Ripple announced a strategic partnership with Bahrain Fintech Bay on Thursday to expand blockchain and stablecoin infrastructure across the Middle East. The collaboration positions the Kingdom of Bahrain as a potential hub for compliant blockchain deployments in the Gulf region.
The partnership builds on Ripple's Dubai Financial Services Authority license, obtained earlier this year. Growing demand from Gulf institutions to adopt digital asset technologies under clear regulatory frameworks is driving the expansion.
Reece Merrick, Ripple's managing director for the Middle East and Africa, noted that Bahrain emerged as an early adopter of blockchain technology and was among the first jurisdictions globally to regulate crypto‑assets. Ripple plans to offer its digital assets custody solution and RLUSD stablecoin to Bahrain's financial institutions.
Under the agreement, Ripple and Bahrain Fintech Bay will collaborate on pilot projects, educational programs, and local accelerator initiatives. The partnership aims to expand digital asset use cases, including tokenisation, cross‑border payments, and stablecoin applications.
Ripple is participating in the Fintech Forward 2025 conference in Sakhir this week alongside regional banks, regulators, and global fintech firms.
Suzy Al Zeerah, chief operating officer at Bahrain Fintech Bay, stated that Bahrain has long been recognised as a financial services hub. The partnership reflects Bahrain FinTech Bay's commitment to connecting global innovators with the local ecosystem, creating opportunities for pilots, talent development, and solutions shaping finance's future.
Bahrain Fintech Bay launched in 2018 as a major fintech hub in Manama through a public‑private initiative involving the Bahrain Economic Development Board and the FinTech Consortium. The organisation emerged as a major fintech partner of the Central Bank of Bahrain, establishing collaborations prior to its formal foundation in late 2017.
The Central Bank of Bahrain introduced a framework for licensing and regulating stablecoin issuers in July. Licensed issuers are permitted to issue single‑currency stablecoins backed by the Bahraini Dinar, U.S. Dollar, or other fiat currencies acceptable to the CBB.
Ripple operates over 60 regulatory licences and registrations globally. The company's RLUSD stablecoin, designed for enterprise use and regulatory clarity, has become central to its strategy of linking tokenised assets with traditional payment infrastructure.