Manama, Bahrain – Bahrain FinTech Bay, a subsidiary of The Benefit Company (BENEFIT), has announced a strategic partnership with MonetaGo to develop and deploy the Kingdom’s first Digital Public Infrastructure (DPI), marking a regional first for the GCC. The initiative aims to strengthen Bahrain’s trade finance ecosystem, address SME challenges, and advance the goals of the Kingdom’s Economic Vision 2030.
This national initiative will establish a secure, transparent, and inclusive trade finance ecosystem, reinforcing Bahrain’s leadership in fintech innovation. Through this collaboration, Bahrain FinTech Bay and MonetaGo aim to close a critical market gap by building a trusted digital infrastructure that enhances transparency, mitigates risk, and unlocks new liquidity sources for SMEs.
The first milestone of the initiative will be the development and deployment of a Trade Finance Registry. This digital platform enables real-time validation of financing transactions across banks and financial institutions. The registry will play a pivotal role in preventing duplicate financing, invoice fraud, and falsified documentation, safeguarding lenders and empowering borrowers. Following its launch, the initiative will onboard leading Bahraini banks and will be open to participation from all licensed lenders across the Kingdom.
“This is more than a partnership; it’s a national effort to build foundational digital infrastructure that strengthens Bahrain’s trade finance landscape. Through this initiative, we aim to empower SMEs, enhance market confidence, and reinforce Bahrain’s leadership in financial innovation,” said Bader Sater, CEO of Bahrain FinTech Bay.
MonetaGo brings extensive international experience to the initiative, having successfully deployed trade finance registries in several global markets.
Neil Shonhard, CEO of MonetaGo, said, “We are delighted to partner with Bahrain Fintech Bay to empower SMEs and secure trade finance. This initiative will be the foundation for building public infrastructure that supports SME growth and strengthens Bahrain’s position as a regional fintech leader. Our trade finance registry has already proven its value in markets worldwide, and together we will ensure the Kingdom of Bahrain is at the forefront of secure and inclusive digital financial systems.”
This initiative underscores the Kingdom’s commitment to digital innovation, SME development, and the creation of world-class financial infrastructure, positioning Bahrain as a forward-thinking and resilient fintech hub in the region.
About MonetaGo
MonetaGo is the global leader in building Digital Public Infrastructure (DPI) that brings greater transparency, trust, and resilience to financial ecosystems. Its DPI solutions provide secure, interoperable platforms that reduce risk, prevent fraud, and enable financiers, institutions, and ecosystems to validate and authenticate critical information in real time.
Its flagship offering, Secure Financing, is the world’s first trade finance registry of its kind, designed to prevent fraud related to invoices and other trade documents. By reducing fraud and unlocking liquidity, Secure Financing demonstrates how MonetaGo’s DPI empowers financial institutions to support businesses more confidently, especially SMEs, and drive sustainable economic growth.
Since entering production in 2018, MonetaGo’s solutions have prevented tens of billions in losses. The company made history as the first third-party service integrated into Swift’s API-enabled infrastructure, giving Swift members worldwide access to tools that de-risk and digitize trade finance.
MonetaGo and its solutions have been recognized with numerous international awards, including Fintech of the Year at the GTR Leaders in Trade Awards, Fraud Prevention Solution of the Year at the Asia Risk Awards, and Most Innovative Technology Vendor of the Year at the BCR RFIx Awards, among others. For further information, please visit www.monetago.com.
About Bahrain Fintech Bay:
Bahrain FinTech Bay, a subsidiary of The Benefit Company (BENEFIT), is the Kingdom’s leading fintech hub, driving collaboration, innovation, and ecosystem development across the financial sector. Through strategic partnerships with government entities, financial institutions, and technology providers, Bahrain FinTech Bay accelerates innovation and supports Bahrain’s vision of becoming a global fintech hub.
For media inquiries, please contact:
Ghaidaa Abdulaziz,
Comms & Outreach Manager
ghaidaa.mohamed@bahrainfintchbay.com