Gandeng OpenNode, Bank Sentral Bahrain Bitcoin Payment Trial

Bahrain doubles OpenNode to provide Bitcoin payment infrastructure. (OpenNode)

JAKARTA Bahrain's financial institutions are testing payments with Bitcoin. This is the result of the collaboration between Bank Sentral Bahrain (CBB) and OpenNode, a Bitcoin (BTC) payment infrastructure company.

Collaborating with OpenNode, CBB will test a Bitcoin payment processing solution. According to an official press release, the BTC payment processor plans to provide infrastructure for the solution.

Regulatory Sandbox was first launched in 2017, after which CBB authorized OpenNode to participate in its framework that would allow financial technology companies to test their ideas and solutions in the country.

"The leading Bitcoin infrastructure solution OpenNode continues to pave the way for leading countries, governments and financial institutions to adopt Bitcoin standards and transact on lightning networks," said OpenNode CEO and Co-Founder, as reported by CryptoPotato.

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Bahrain's move is part of an regulated digital economy. According to the Executive Director of Investment Development for Financial Services at the Bahrain Economic Development Council, Dalal Buhejji stated that the initiatives that will soon be tested in this new payment process are very important. He highlighted the importance of innovation in the financial and regulatory fields.

Not only that, Bahrain has also attracted various of the largest crypto companies including Binance which was granted a license as a crypto asset service provider from Bank Sentral Bahrain.

This country has become the first country in the Middle East to give the green light to the world's largest crypto exchange company based on its trading volume, Binance. Later, Binance will offer its services according to the rules of the Cooperation Council for Gulf Arab States or GCC. With the partnership between CBB and OpenNode, Bahrain will be one of the countries that are ready with a digital financial system.

For information, OpenNode is a Bitcoin payment infrastructure provider using the Ligtning Network. We built the best payment infrastructure today, without sacrificing tomorrow. We believe that bitcoin is the future of global digital payments and no other payment methods can compete, reads OpenNode's statement on its official website.