- Ripple has partnered with Bahrain Fintech Bay to introduce its RLUSD stablecoin and digital custody solutions to Bahrain’s financial institutions.
- The move aligns with the country’s progressive stablecoin regulations and reinforces Ripple’s expanding global presence.
Ripple, the blockchain firm behind the XRP cryptocurrency, is extending its footprint in the Middle East through a strategic partnership with Bahrain Fintech Bay (BFB), one of the region’s leading fintech incubators. This collaboration marks Ripple’s most significant move yet toward establishing its Ripple USD (RLUSD) stablecoin and digital asset custody solution within Bahrain’s rapidly evolving financial ecosystem.
Announced on Thursday, the partnership will see Ripple and BFB join forces to strengthen Bahrain’s digital asset infrastructure. The two entities plan to launch fintech pilot programs and test blockchain-based solutions in key areas such as cross-border payments, tokenization, and stablecoin applications.
According to Reece Merrick, Ripple’s Managing Director for the Middle East, the company ultimately aims to bring RLUSD and its institutional-grade custody services to Bahrain’s financial institutions, further integrating blockchain into the nation’s banking framework.
Founded in 2018, Bahrain Fintech Bay serves as a cornerstone of the country’s innovation ecosystem, formed through a public-private partnership between the Bahrain Economic Development Board (EDB) and the FinTech Consortium.
Over the years, BFB has worked closely with the Central Bank of Bahrain (CBB), which has repeatedly recognized it as a key fintech partner in fostering digital transformation across the financial sector.
Ripple’s collaboration with BFB comes at a pivotal time, as Bahrain continues to position itself as a regional leader in blockchain regulation.
In July 2025, the CBB introduced a comprehensive framework for licensing and regulating stablecoin issuers, permitting entities to issue fiat-backed stablecoins tied to the Bahraini Dinar (BHD), US Dollar (USD), or other approved currencies. The new regulation aims to enhance financial stability while encouraging innovation in the digital asset space.
Bahrain has long been recognized as a financial services hub, and today this legacy is being further enhanced in the digital assets and blockchain space,
said Suzy Al Zeerah, Chief Operating Officer at BFB.
She added that the Ripple partnership “reflects BFB’s commitment to bridging global innovators with the local ecosystem,” fostering collaboration and technological advancement in the region.
Ripple’s expansion into Bahrain underscores the company’s global regulatory and operational growth. With over 60 regulatory approvals worldwide, Ripple continues to solidify its position as a major player in cross-border finance and blockchain integration.
Meanwhile, XRP, Ripple’s native cryptocurrency, maintained its position as the fifth-largest digital asset by market capitalization, despite recent shifts in the rankings following BNB’s surge earlier in the week.
As Ripple’s RLUSD stablecoin gears up for its Middle East debut, the move signals a deepening connection between traditional finance and blockchain innovation in Bahrain, potentially setting a precedent for broader stablecoin adoption across the Gulf region.