Bahrain enables crypto payments with Binance

The Central Bank of Bahrain gives the nod to EazyPay, launching crypto payments for further than,000 payment gateways in the country
Cryptocurrency relinquishment continues growing in the Kingdom of Bahrain, with original companies enabling payments in crypto like Bitcoin( BTC).

EazyPay, an online payment platform regulated by the Central Bank of Bahrain( CBB), has partnered with Binance Pay to enable crypto payments in the country, EazyPay CEO and author Nayef Tawfiq Al Alawi blazoned on Wednesday.

The recently launched crypto payment option will be available in further than,000 point- of- trade( PoS) outstations and online payment gateways across Bahrain, the CEO said.

Major original merchandisers and enterprises, including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry and Jasmi’s, will be suitable to accept further than 70 cryptocurrencies as payment by surveying the QR law from Eazy’s PoS using Binance App.
Al Alawi emphasized that Eazy Financial Services is certified and regulated by Bahrain’s central bank as the fifth PoS and online payment gateway acquirer and payment services provider.

“ Special thanks go to the Central Bank of Bahrain, Binance and Eazy Financial Services, ” he noted. Khalid Hamad Al Hamad, administrative director of the banking supervision at the CBB, also complimented Eazy on rolling out the new crypto payment service.

Binance CEO Changpeng Zhao noted that EazyPay’s crypto payment point would be the “ first regulated and approved crypto payments service immolation ” in the Middle East and North Africa region. As preliminarily reported, Binance entered several nonsupervisory blessings in Bahrain, including a crypto service provider license and the order 4 license.

The third- lowest country in Asia, Bahrain, has been laboriously espousing cryptocurrency over the once many times. In 2019, the CBB issued a frame for a range of crypto- related conditioning, officially establishing rules for licensing, governance, threat operation,Anti-Money Laundering norms, reporting, security and other rules for crypto- asset services.
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Bahrain has been laboriously experimenting with crypto and blockchain technology since espousing crypto regulations. In January 2022, The CBB completed a digital payments trial in collaboration with JPMorgan’s blockchain and cryptocurrency unit Onyx. CoinMENA, a major original crypto exchange regulated by the CBB, in June blazoned plans to expand its crypto trading services into Egypt.