Palmex, a digital asset exchange powered by ArabianChain Technology, has become the first and only cryptocurrency exchange in the Middle East and North Africa to receive a Regulatory Sandbox License.
The announcement is the most recent in a series of steps affirming the CBB’s commitment to developing Bahrain into a leader of fintech innovation.
Algo Bahrain will support the regional Islamic banking sector through the R&D of fintech products and other innovative, sharia-compliant banking solutions.
The Regulatory Summit will debate key challenges that financial institutions and corporates face in complying with international standards, fighting financial crime and promoting strong internal compliance cultures.
“For Bahrain to own its digital economy, we need a proper ecosystem that will have a network with end-to-end digitisation. I think that will take at least two years more for Bahrain, even though we have a robust beginning,” said B. Chandrasekhar.