{"id":495084,"date":"2022-09-22T13:10:19","date_gmt":"2022-09-22T10:10:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/regulated-fintech-in-bahrain-enables-crypto-payments-with-binance\/"},"modified":"2022-09-22T13:10:19","modified_gmt":"2022-09-22T10:10:19","slug":"regulated-fintech-in-bahrain-enables-crypto-payments-with-binance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/regulated-fintech-in-bahrain-enables-crypto-payments-with-binance\/","title":{"rendered":"# Regulated fintech in Bahrain enables crypto payments with Binance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373c0bba32b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373c0bba32b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/regulated-fintech-in-bahrain-enables-crypto-payments-with-binance\/#%E2%80%9D_Regulated_fintech_in_Bahrain_enables_crypto_payments_with_Binance_%E2%80%9C\" >&#8221; Regulated fintech in Bahrain enables crypto payments with Binance &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Regulated_fintech_in_Bahrain_enables_crypto_payments_with_Binance_%E2%80%9C\"><\/span>&#8221; Regulated fintech in Bahrain enables crypto payments with Binance &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZGIwNjA2N2EtYzkzMS00MjRkLTg2YWYtOWE2M2Y4ZWEzMmFjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local companies enabling payments in crypto like Bitcoin (BTC).<\/p>\n<p>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 founder Nayef Tawfiq Al Alawi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/posts\/nayef-tawfiq-al-alawi-b057958b_cryptomarket-payments-innovation-activity-6978064282575904768-GrwH\">announced<\/a> on Wednesday.<\/p>\n<p>The newly launched crypto payment option will be available in more than 5,000 point-of-sale (POS) terminals and online payment gateway across Bahrain, the CEO said.<\/p>\n<p>Major local merchants and firms, including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry and Jasmi\u2019s, will be able to accept more than 70 cryptocurrencies as payment by scanning the QR code from Eazy\u2019s POS using Binance <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>.<\/p>\n<p>Al Alawi emphasized that \u200e\u200fEazy Financial Services is licensed and regulated by Bahrain\u2019s central bank as the fifth POS and online payment gateway acquirer and payment services provider. <\/p>\n<p>\u201cSpecial thanks go to the Central Bank of Bahrain, Binance and Eazy Financial Services,\u201d he noted. Khalid Hamad Al Hamad, executive director of the banking supervision at the CBB, also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.startupmgzn.com\/english\/news\/eazypay-launches-cryptocurrency-payments-via-binance-pay-for-the-first-time-in-the-me\/\">congratulated<\/a> Eazy on rolling out the new crypto payment service.<\/p>\n<p>Binance CEO Changpeng Zhao <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1572843178184810496?s=20&amp;t=0vvHvhbk3aRcWRnTxvVvgw\">noted<\/a> that EazyPay\u2019s crypto payment feature would be the \u201cfirst regulated and approved crypto payments service offering\u201d in the Middle East and North Africa region. As previously reported, Binance received several regulatory approvals in Bahrain, including a crypto service provider license and the Category 4 license.<\/p>\n<p>The third-smallest country in Asia, Bahrain, has been actively adopting cryptocurrency over the past few years. In 2019, the CBB <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cbb.gov.bh\/media-center\/central-bank-of-bahrain-issues-final-rules-on-crypto-asset-services-and-crypto-asset-exchanges\/\">issued<\/a> a framework for a range of crypto-related activities, officially establishing rules for licensing, governance, risk management, Anti-Money Laundering standards, reporting, security and other rules for crypto-asset services.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>OpenNode sets up BTC payment infrastructure in Bank of Bahrain regulatory sandbox<\/em><\/strong><\/p>\n<p>Bahrain has been actively experimenting with crypto and blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> since adopting crypto regulations. In January 2022, The CBB completed a digital payments trial in collaboration with JPMorgan\u2019s blockchain and cryptocurrency unit Onyx. CoinMENA, a major local crypto exchange regulated by the CBB, in June <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.al-monitor.com\/originals\/2022\/07\/bahrains-coinmena-offer-crypto-services-egypt\">announced<\/a> plans to expand its crypto trading services into Egypt.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/regulated-fintech-in-bahrain-enables-crypto-payments-with-binance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Regulated fintech in Bahrain enables crypto payments with Binance &#8220; Cryptocurrency adoption continues growing in the Kingdom of Bahrain, with local 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,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":495085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvZGIwNjA2N2EtYzkzMS00MjRkLTg2YWYtOWE2M2Y4ZWEzMmFjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,75022,74863,75582,76556,74889,117,71511,25460,70934],"class_list":["post-495084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-central-bank","tag-cryptocurrencies","tag-fiat-money","tag-fintech","tag-payments","tag-business","tag-government","tag-middle-east","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=495084"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/495084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/495085"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=495084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=495084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=495084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}