The Rise of Cryptocurrency in Bahrain
The Kingdom of Bahrain is on a cryptocurrency growth spurt faster than a kid on a sugar rush. With an increasing number of local companies getting onboard, crypto is not just a fleeting trend; it’s becoming a way of life. The latest buzz? EazyPay is bringing the digital currency world a little closer to local merchants with a fresh partnership with Binance Pay.
EazyPay and Binance: A Match Made in Crypto Heaven
EazyPay, the online payment whiz under the watchful eye of the Central Bank of Bahrain (CBB), recently revealed its collaboration with Binance Pay. By Wednesday’s announcement from EazyPay’s CEO, Nayef Tawfiq Al Alawi, it was clear that crypto payments are ready to rock Bahrain. This new feature rolls out to over 5,000 point-of-sale (PoS) terminals and online payment platforms. Talk about making crypto accessible!
Paving the Way for Over 70 Cryptocurrencies
Imagine walking into a store and paying for your essentials with Bitcoin or Litecoin! Bahrainis won’t just be dreaming, as major retailers like Lulu Hypermarket, Sharaf DG, Al Zain Jewelry, and Jasmi’s have stepped up to the plate. By simply scanning a QR code through the Binance App, customers can now pay with a plethora of over 70 cryptocurrencies. Who knew shopping could feel like a tech-savvy treasure hunt?
A Regulated and Secure Dance
Regulation is the name of the game in Bahrain. Eazy Financial Services boasts licensing from the CBB and is recognized as the fifth PoS and online payment acquirer in the nation. Al Alawi was quick to express his gratitude towards the CBB and Binance, ensuring consumers that they’re in good hands. It’s not just a party for crypto enthusiasts; it’s a step towards comforting any skeptical wallets!
Future Gazing: Bahrain’s Crypto Landscape
Bahrain isn’t just catching up; it’s leading the charge in the MENA region. Binance CEO Changpeng Zhao highlighted this venture as the “first regulated and approved crypto payments service offering” in the Middle East and North Africa. The CBB has been proactive since 2019, establishing a framework that regulates everything from licensing to Anti-Money Laundering practices. Forget your average sandbox; Bahrain is playing on a whole different playground!
