SIO-1.2 Type of Stablecoins Permitted for Offering
SIO-1.2.1
Stablecoin issuers are permitted to issue single currency stablecoins backed byreserve assets in one of the following fiat currencies:(a) Bahraini Dinar (BHD);(b) United States Dollar (USD); and(c) Any other fiat currency acceptable to the CBB and in respect of which a prior CBB approval has been obtainedAdded: July 2025SIO-1.2.2
For the purpose of Paragraph SIO-1.2.1, a
stablecoin issuer must ensure that the value of thereserve assets backing theapproved stablecoin is at least equal to the par value of theapproved stablecoin in circulation at all times.Added: July 2025SIO-1.2.3
With regards to Paragraph SIO-1.2.1(c) above, the CBB while determining the suitability of stablecoins backed in any other fiat currencies (other than Bahraini Dinar and US Dollar), will take into consideration various factors including but not limited to the stabilisation mechanism as well as the availability of high quality and highly liquid with minimal market, credit and concentration risk reserve assets in those currencies.
Added: July 2025SIO-1.2.4
In order to distinguish stablecoins approved by the CBB for offering pursuant to the requirement of this Module from other types of stablecoins, the stablecoins approved by the CBB shall be referred to as approved stablecoins.
Added: July 2025CBB’s Right of Refusal or Restrictions on Stablecoin Offering
SIO-1.2.5
The CBB may reject an application for issuance of a stablecoin if it determines that the issuance thereof might cause damage, dilute or be contrary to the interests of national economy, the holders of the stablecoin or public investors in general. The CBB may also refuse to grant its approval, postpone granting such approval, or impose additional terms and conditions on the issuance of stablecoins, if the CBB deems that the market condition or circumstances justifies such action.
Added: July 2025
