CoinDesk
Abdulla Kanoo, an heir to Bahrain's 135-year-old Kanoo business dynasty, is building blockchain-based settlement infrastructure for the growing flow of trade between emerging economies through his firm ARP Digital. The company has already processed more than $3.5 billion in transaction volume for over 450 institutions, with Kanoo reporting a fourfold increase in volume last year. Trade between emerging economies exceeded $6 trillion in 2024, representing roughly a quarter of global trade, and could reach $32 trillion by 2030.
Why it matters
The Kanoo family has spent more than a century building the Gulf's commercial spine across shipping, logistics, travel and finance, with a net worth of up to $6 billion. Kanoo has personally invested in digital assets since 2015 and calls himself "faithful" to bitcoin, but ARP Digital is not pitching a token or another exchange. The bet is structural: Global South institutions increasingly trade with one another, yet most still route payments through multiple correspondent banks with multi-day settlement, offshore capital lock-up, and uneven access to dollar liquidity. "The Gulf was where global capital was stored," Kanoo told CoinDesk. "The next chapter is about movement."
Market impact
ARP holds a Category 3 Crypto-Asset Service Provider license from the Central Bank of Bahrain and has in-principle approval from Dubai's Virtual Assets Regulatory Authority. Its integration with the Fireblocks Network for Payments opens access to a digital asset network spanning more than 100 countries, while giving Fireblocks a regulated entry point into Gulf payment corridors. Kanoo's framing puts the Gulf as a future hub for moving and settling global capital: "For a century, the Gulf stored the world's capital. By 2030, it will move it and settle it." The immediate read is institutional legitimization of blockchain rails for cross-border B2B settlement, anchored by a regulated, dynasty-backed operator in two Gulf jurisdictions.
Frequently asked questions
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Who is Abdulla Kanoo and what is ARP Digital?
Abdulla Kanoo is an heir to Bahrain's 135-year-old Kanoo business dynasty, a family with a net worth of up to $6 billion spanning shipping, logistics, travel and finance. He is the co-founder of ARP Digital, a Bahrain-headquartered digital asset infrastructure firm building blockchain-based settlement rails for…
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How much volume has ARP Digital processed so far?
Kanoo said ARP Digital has processed more than $3.5 billion in transaction volume across over 450 institutional and corporate entities, and that volume grew fourfold last year. The firm is regulated by the Central Bank of Bahrain and has in-principle approval from Dubai's VARA.
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What is the size of the emerging-market trade market ARP is targeting?
Trade between emerging economies exceeded $6 trillion in 2024, representing roughly a quarter of global trade, according to Kanoo. He cited forecasts putting the addressable market at up to $32 trillion by 2030.
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What does ARP's Fireblocks integration actually do?
ARP has integrated with the Fireblocks Network for Payments, a platform that connects payment providers, fintechs and financial institutions across more than 100 countries. For ARP, the deal grants access to one of the largest institutional digital asset networks in the world. For Fireblocks, it provides a regulated…
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Why is the Gulf positioning itself as a blockchain settlement hub?
Kanoo argues the Gulf has historically been a storage hub for global capital and is now aiming to become its movement and settlement layer. With Category 3 CASP licensing in Bahrain, in-principle VARA approval in Dubai, and dynasty-backed capital, ARP is one of several Gulf-based efforts positioning the region as…
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