- Today, Binance launches its Bahrain platform, binance.bh.
- Binance Bahrain platform will be a fully regulated platform by the CBB.
- Bahrain users can access Binance’s full range of regulated crypto-asset exchange services.
Today, Binance launches its Bahrain platform, binance.bh. Binance Bahrain platform will be a fully regulated platform by the Central Bank of Bahrain (CBB).
Bahrain users can access Binance’s full range of regulated crypto-asset exchange services as well as local banking options, including direct deposits and withdrawals in local currencies, under the supervision of the CBB.
Last May, Binance Bahrain became the first crypto asset service provider (CASP), that received a category 4 license from CBB. The Category 4 license will allow Binance Bahrain to offer crypto-asset exchange services to customers under the supervision of the Bahrain regulators. Reportedly, Binance comes one step closer to becoming a leading global hub crypto.
The Head of MENA at Binance, Richard Teng explained:
The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange.
When it comes to CBB, the bank provides an efficient regulatory framework for crypto financial services firms in Bahrain looking to work with crypto.
On Monday, LuLu became the first hypermarket in Bahrain to accept crypto. Customers at Lulu will be able to make purchases in crypto and use the Eazy machines at checkout.
In another report by Chainalysis, the Middle East & North Africa (MENA) was one of the smaller crypto markets in the 2022 Global Crypto Adoption Index study, but it’s also the region with the fastest growth in crypto transactions.
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