The Bahrain Economic Development Board (EDB) has officially joined the Swiss Crypto Valley Association in a move towards fostering international collaboration in the blockchain and cryptocurrency industry.
The announcement marks a unique partnership between the nonprofit Crypto Valley Association and Bahrain’s EDB, which plays a pivotal role in attracting investments to the Gulf nation.
The Bahrain Economic Development Board (EDB) is a public agency responsible for attracting investment into Bahrain and supporting the growth of the country’s economy. It focuses on economic sectors that capitalize on Bahrain’s competitive advantages and provide significant investment opportunities, including information and communications technology (ICT), financial services, manufacturing, and logistics.
The EDB offers a range of services to support businesses, including assistance with setting up a business in Bahrain, access to funding and financing, and support for research and development. Over the years, it has been successful in attracting significant investment into Bahrain, with USD 295 million in direct investments within the ICT sector alone.
The Crypto Valley Association (CVA) is a non-profit organization based in Switzerland focused on developing a leading ecosystem for blockchain and distributed ledger technologies. The association is dedicated to fostering growth, collaboration, and integrity in the global blockchain and crypto space.
It engages in various activities such as events, international outreach, and the operation of working groups. The CVA provides access to a deep talent pool of innovators and subject matter experts across the crypto and blockchain sectors, and it has partnerships with leading institutions such as ETH Zürich, HSLU, and IDAXA.
The association is committed to enabling innovation through collaboration and partnerships and advocating for growth-enhancing regulation and policy. It also organizes thought leadership events, conferences, and industry networking events to support the growth of the industry.
Expressing their enthusiasm about the latest addition, the Crypto Valley Association stated that it is excited to announce its collaboration with the Bahrain Economic Development Board (EDB). This means that the EDB becomes its newest corporate member, which will foster more development in the region.
It’s also worth noting that Bahrain leads the way in the Golf Cooperation Council by being the first to regulate crypto exchanges. Currently hosting three licensed crypto exchanges, including RAIN, Binance, and CoinMENA, Bahrain’s collaboration with the Swiss Crypto Valley Association signals its commitment to being a central hub for crypto and blockchain activities in 2024.
The nation’s proactive stance positions it at the forefront of the fast-moving blockchain and cryptocurrency landscape.
