Binance, the world’s leading blockchain service provider, has launched binance.bh. It is a new regulated platform that allows users to access a range of regulated products and services, including direct top ups and withdrawals in local currency.
To celebrate the launch of binance.bh, Binance will host a launch event under the auspices of Rasheed Al Maraj, Governor of the Central Bank of Bahrain (CBB) and Khalid Humaidan, Chief Executive Officer of the Bahrain Economic Development Board. Did. Binance co-founder and CEO Changpeng Zhao (CZ) attends the Bahrain Institute of Banking and Finance (BIBF), which includes other prominent regional and international figures and personalities in the financial and cryptocurrency sector. will be
Attendees were welcomed with an opening speech by Tameem Al Moosawi, General Manager of Binance Bahrain, followed by discussions between Humaidan and CZ on topics of interest such as the state of the cryptocurrency market in the Middle East and the outlook for the financial services sector. Engaging and insightful fireside discussion. It enables innovation and provides future opportunities for the region to become a global crypto hub.
Licensed as a Crypto Service Provider / Category 4 (Crypto Asset Exchange) on 19 May 2022, the binance.bh platform enables Binance to offer a wide range of crypto asset exchange services to its customers. This means that new customers can sign up on the newly regulated platform to access a wide range of products and services.
CBB Governor Rasheed Al Maraj said: Based on global trends and developments in financial services, CBB aims to develop a supervisory framework that promotes innovation and appropriate regulatory controls for crypto-asset trading service providers and their customers. . ”
Humaidan, CEO of EDB, added: We are pleased to announce that Binance has reached various milestones from the first regional license in Bahrain to the launch of Binance.bh. The launch of their platform reaffirms Bahrain’s status as a leading hub for crypto, blockchain and fintech innovation not only in the region but around the world. ”
Richard Teng, Head of Europe, Middle East and North Africa at Binance, commented: The people of Bahrain have been staunch early adopters of crypto assets and it is great to see Binance playing a role in meeting the strong interest of the local population to be on the cutting edge of financial innovation. ”
Al Moosawi adds: Not only from a compliance perspective, but also to protect users by providing consumer protection and market security. We see great potential in Bahrain and it is great to contribute and be part of the journey of the region to become a thriving global hub for all blockchains. ”
Binance sees Bahrain as a key business hub that offers growth and employment areas within the wider industry. In addition, Binance’s focus on robust compliance and security controls, and its commitment to working closely with local regulators to defend user protection and market integrity, has led the company to strengthen its GCC. It was able to establish a foothold and contribute to the status of the region. As a rapidly emerging global cryptocurrency hub, it said.
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