The Bahrain Economic Development Board announced that it has welcomed Singapore Based digital asset bank Whampoa Group to Bahrain. Whampoa will be setting up its new digital bank headquarters in Bahrain. The digital bank, which offers integrated financial solutions to serve institutions, innovators, and sophisticated investors globally, including digital banking services and the trading, custody, and asset management of digital assets, will open its operations in Bahrain by the end of year. In 2022, Whampoa Group had announced plans to raise $50 million for a crypto hedge fund and had announced plans to set up a venture capital fund to invest in digital assets. "We are delighted that Whampoa Group intends to set up the headquarters of their new digital bank in Bahrain as they would benefit from Bahrain's pro-innovation environment and forward-looking regulatory framework. The establishment of these types of institutions is vital to further strengthen the existing digital