Blockchain service provider, Binance has reportedly launched binance.bh in Bahrain, a new and fully regulated platform where all its products and services can be accessed in local currencies.
In a statement, the company said that new customers can now sign up on the new platform to access a range of services and products.
Though binance.bh was granted a license to operate as Crypto Asset Service Provider (CASP) Category-4 (Crypto Assets Exchange) earlier in May, the platform will now allow Binance to offer a wide range of crypto-asset exchange services.
Khalid Humaidan, CEO of the Bahrain Economic Development Board, claimed that the country has a longstanding commitment to fintech investments and crypto assets and is pleased to witness Binance reach different milestones here.
He commented that the launch of the new platform reaffirms the country’s position as the leading hub in fintech innovations and crypto services in the region and the world.
Richard Teng, Regional Head of Binance Europe and MENA, commented that the people in the country were some of the early adopters of crypto assets. He said that it was fantastic to have Binance play an essential role in addressing the people’s keen interest to be on the cutting edge of financial innovation.
Tameem Al Moosawi, GM at Binance Bahrain, quoted that working closely with Bahrain’s regulatory bodies was a key part of its approach to the market to provide market security and consumer protection.
Tameem added that the company sees huge potential in the country and looks forward to contributing and being a part of its journey to emerge as the global hub for all blockchain-related things.
Binance has been eyeing the Kingdom of Bahrain as a core business hub that will offer scope for industry-wide growth and employment.
Additionally, the company has been focusing on strong compliance and security controls and has worked closely with regional regulators for market integrity and user protection. This has allowed Binance to have a strong foothold in the region and contribute to its status as a fast-emerging global hub for crypto assets.
Source credit: https://www.zawya.com/en/business/fintech/binancebh-goes-live-in-bahrain-vj6zctk7