Manama, Oct 27 (BUS): Binance, the leading global provider of blockchain services, today announced the launch of binance.bh, a new and fully regulated platform where users can access Binance’s full suite of products and services – including direct deposits and withdrawals – in local currencies.
New customers can sign up for the newly curated platform and access a range of products and services.
Having received its Class 4 Crypto Asset Service Provider (CASP) license on May 19, 2022, the binance.bh platform now allows Binance to offer a full range of crypto-asset exchange services to clients.
Commenting on the announcement, His Excellency Khalid Humaidan, CEO of the Bahrain Economic Development Board, said: “Bahrain’s strong commitment to crypto assets and fintech investments is long-standing. We are pleased to see Binance reach various milestones in Bahrain, from receiving its first regional license. Live with bahrain.bh.
The launch of binance.bh confirms Bahrain’s position as a leading hub for crypto services and fintech innovations, not only in the region but across the world.
Richard Teng, Binance’s regional head for EMEA, commented, “Watching Bahrain’s forward-thinking perspective on the crypto asset industry was an excellent experience.
Bahrainis have become a solid early adopter of crypto assets, and it is great that Binance is playing a role in addressing the interest of local residents to be at the forefront of financial innovation.”
Tamim Al Mousawi, General Manager of Binance – Bahrain added: “Working closely with the regulators in the Kingdom of Bahrain is a vital part of our approach to the market; not just from a compliance perspective, to protect users by providing consumer protection and market security. We see huge potential in Bahrain, and it is great to be able to contribute and be a part of this region’s journey towards thriving as a global hub for everything related to blockchain technology.”
Binance has identified the Kingdom of Bahrain as a major business hub that will provide areas for growth and employment in the broader industry.
Furthermore, Binance’s focus on strong compliance and security controls, as well as its commitment to working closely with regulators in the region to support user protection and market integrity, has allowed the company to establish a strong foothold in the GCC and contribute to the region’s standing. As a fast emerging global crypto asset hub.
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