According to CoinDesk, ARP Digital obtained a Category 3 license from the Central Bank of Bahrain, becoming the country’s only over-the-counter (OTC) service provider focused on digital asset structured products. Since the U.S. Securities and Exchange Commission approved a Bitcoin spot ETF earlier this year, institutional investor demand for structured products has increased significantly. ARP Digital is a digital asset services company, and one of its co-founders was a partner at Goldman Sachs. The company was awarded a Category 3 license over the weekend to provide services including crypto trading, custody and portfolio management services. The company's products primarily address the complex needs of high net worth, accredited, institutional and family office investors globally. ARP Digital will serve both traditional finance and crypto-native investors. The management team includes co-founder Yusuf Alireza, who spent 20 years at Goldman Sachs and was the first Arab partner in the Wall Street firm's history. The other co-founders Abdulla Kanoo and Abdulaziz Kanoo were former regional directors of Amber Group’s crypto trading firm in the MENA region.