Ripple expands into Bahrain… partners with FinTech Bay to expand stablecoin infrastructure

Minseung Kang

Summary

Ripple said it will collaborate with Bahrain FinTech Bay to pursue a project that integrates blockchain and stablecoin infrastructure centered on the RLUSD stablecoin into the local financial market.
Under the agreement, both parties said they will jointly carry out proof-of-concept projects related to digital assets, such as tokenization, cross-border payments, and stablecoin use, as well as education and accelerator programs.
Ripple said the cooperation is part of a strategy to nurture Bahrain as a regulation-friendly blockchain hub and to make RLUSD a core business pillar for institutional payments and asset tokenization.

Ripple said it has formalized a partnership with Bahrain FinTech Bay as it steps up its entry into the Middle East. The collaboration is described as part of a strategy to link tokenized assets and existing financial payment networks centered on Ripple's stablecoin, RLUSD.

On the 9th (local time), crypto asset (cryptocurrency) specialist media CoinDesk reported that Ripple has signed an agreement with Bahrain FinTech Bay to pursue a project that integrates blockchain and stablecoin infrastructure into the local financial market. The cooperation is seen as a continuation of Ripple's Middle East expansion following its acquisition of authorization from the Dubai Financial Services Authority (DFSA) in Dubai earlier this year.

Reece Merrick, Ripple's Managing Director for Middle East and Africa, said, "Bahrain is one of the countries that early adopted blockchain technology and was among the first in the world to introduce virtual asset regulation. Ripple will work with FinTech Bay to strengthen the foundation of the local blockchain industry and ultimately provide digital asset custody and RLUSD stablecoin solutions to financial institutions."

The two sides said they will jointly promote proof-of-concept (PoC) projects related to digital assets, such as tokenization, cross-border payments, and stablecoin use, as well as education and accelerator programs under the agreement. Ripple will also participate in the 'Fintech Forward 2025' event this week in Sakhir, Bahrain, to strengthen cooperation with local financial authorities and major banks.

Suzy Al Zeerah, Chief Operating Officer (COO) of Bahrain FinTech Bay, said, "Bahrain has long maintained its position as a financial hub and is now expanding its stature in digital assets and blockchain. The collaboration with Ripple will connect global innovation companies with the local ecosystem to create opportunities for new financial solutions and talent development."

Meanwhile, Ripple said it has secured more than 60 regulatory licenses and registrations worldwide, and that this cooperation aims to develop Bahrain into a 'regulation-friendly blockchain hub' for the Gulf region. RLUSD is a stablecoin designed to support institutional payments and asset tokenization, and it is positioned as a core business pillar for Ripple.

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