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CoinEdition: Binance launches a CBB-Regulated Branch Marketplace in Bahrain


Binance Launches CBB Regulated Branch Platform in Bahrain
  • Binance launches today binance.bh, its Bahrain platform.
  • Binance Bahrain platform will become fully regulated by the CBB.
  • Bahrain users can access Binance’s full range of regulated crypto-asset exchange services.

Binance’s Bahrain platform, binance.bh, is now available. Binance Bahrain platform will now be fully regulated and managed by the Central Bank of Bahrain.

Bahrain users can access Binance’s full range of regulated crypto-asset exchange services as well as local banking options, including direct deposits and withdrawals in local currencies, under the supervision of the CBB.

Binance Bahrain, the first crypto asset services provider (CASP), received a category 4-license from CBB. Binance Bahrain will be able to offer crypto-asset trading services to customers with the Category 4 license. This license will be under the supervision and control of the Bahrain regulators. Binance is reported to be one step closer in becoming a global hub for crypto.

Richard Teng, Binance’s Head of MENA explained:

Binance is proud to have been granted a Category 4 license in Bahrain. This is a significant accomplishment that demonstrates our commitment as a compliance-first exchange.

CBB provides a regulatory framework that allows crypto financial service firms in Bahrain to work with crypto.

Monday saw LuLu become the first hypermarket to accept crypto. Lulu customers will be able make purchases in crypto and use Eazy machines at the checkout.

In another report by Chainalysis, the Middle East & North Africa (MENA) was one of the smaller crypto markets in the 2022 Global Crypto Adoption Index study, but it’s also the region with the fastest growth in crypto transactions.

Coin Edition’s first article, Binance Launches CBB-Regulated Branch Platform for Bahrain, appeared first on Coin Edition.

See original on CoinEdition

News Source and Credit

Stocksak Editorial

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