Opennode, a bitcoin payment infrastructure company has stated that it plans to test a bitcoin payment processing solution and pay outs solution through the Central Bank of Bahrain’s regulatory sandbox. Opennode, a bitcoin payment infrastructure company, stated that it will provide the infrastructure necessary to help Bahrain grow its economy and show why Bitcoin is synonymous for better business.
Opennode has been authorized by the CBB to test its crypto payment solution on Bahraini soil. Dalal Buhejji (executive director, Bahrain Economic Development Board) commented on Opennode’s authorization to conduct trials:
“We are proud to have collaborated with the Central Bank in establishing a strong financial services sector within the Kingdom. Our regulator’s flexibility, forward-thinking and innovation have allowed us to stay ahead of the curve when it comes to adopting Fintech solutions.
Buhejji said that the CBB’s Sandbox allows Bahrain’s fintechs to continue innovating while following best regulatory practices.
The Bitcoin Standard:
Afnan Rahman (CEO and co-founder) of Opennode described the company’s planned tests not only as a watershed for Bahrain, but for the entire Middle East.
The CEO stated that Opennode’s top-of-the-line Bitcoin infrastructure solution continues to make it possible for governments, countries, and other reputable financial institutions, to adopt the Bitcoin standard, and transact on its lightning network.