The National Bank of Bahrain (NBB), in collaboration with ARP Digital, has launched Bahrain's first $BITCOIN investment product aimed at accredited investors, providing exposure to $BITCOIN while safeguarding against volatility through a capital protection mechanism. This initiative positions Bahrain as a competitor to the UAE in the GCC’s cryptocurrency landscape, where both countries are leading in crypto adoption. The UAE has recently eliminated taxes on cryptocurrency transactions, enhancing its attractiveness as a crypto hub, while Bahrain continues to develop its regulatory framework, exemplified by granting a crypto license to Crypto.com. Overall, the MENA region has become a significant player in the global cryptocurrency market, accounting for 7.5% of total transaction volume from mid-2023 to mid-2024.