Binance awarded Bahrain crypto service provider license

Crypto Exchange Binance will provide fully regulated services in the first country in the Middle East for a license issued by the Central Bank of Bahrain.

Bahrain was able to issue licenses through the Gulf Arab States of the Cooperation Council (GCC). The world's largest exchange and CEO Chang Peng Zhao March 14 announced the licensing of crypto-asset service providers.

Binance's new license allows it to offer crypto services, including trading, custody and portfolio management, to clients in the Middle East's smallest economy. Last December, Binance received a policy approval to operate in Bahrain. That approval has now become a full-fledged license.