FinTech

Crypto.com Receives Full Approval from the Central Bank of Bahrain to Offer Digital Payment Services

Crypto.com announced that it has received full approval from the Central Bank of Bahrain to provide payment services through its subsidiary, Foris GFS Bahrain. This achievement marks a significant addition to the company’s growing list of licenses to expand its operations in the Gulf region.

The license will enable Crypto.com to offer e-money and FIAT currency payment services in Bahrain and the region, including the launch of its globally renowned prepaid payment cards as part of its regional expansion.

Commenting on the announcement, Noor bint Ali Al Khalif, Minister of Sustainable Development and CEO of the Economic Development Board, expressed her pleasure at Crypto.com’s decision to choose Bahrain as an investment destination. She highlighted that this decision strengthens Bahrain’s efforts to build a resilient digital economy that fosters innovation and financial technology.

Al Khalif added: “Bahrain has successfully created an environment conducive to the growth of blockchain technology and cryptocurrencies, supported by the flexible investment environment that facilitates ease of doing business.”

Eric Anziani, Chief Operating Officer at Crypto.com, stated: “Bahrain has established an ideal environment for innovation in financial technology, supported by clear regulations that balance consumer protection with commercial growth. We are proud to partner with Bahrain and look forward to contributing to the advancement of the digital asset sector across the Gulf Cooperation Council (GCC) countries.”

Bahrain is recognized as a leading hub for digital asset regulation in the region and was one of the first countries to issue licenses for cryptocurrencies, further enhancing its position as a regional leader in financial technology and digital innovation.

Crypto.com continues its global expansion, now serving more than 100 million users worldwide. The company recently obtained a Virtual Asset Service Provider license from the Dubai Virtual Assets Regulatory Authority, and in April 2024, it launched the Crypto.com Exchange for institutional investors.

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