- Bitcoin services are approved by over 5000 Eazypay merchants in Bahrain.
- This is an excellent development for Bitcoin.
- The Middle East has focused a lot of emphasis on cryptocurrencies.
The king of crypto assets, Bitcoin, is still respected by businesses, investors, and states worldwide. Recently, Bitcoin services have been approved by over five thousand Eazypay merchants in Bahrain.
According to reports, customers may now use their Binance App to scan the generated QR from Eazy’s POS and pay with their choice cryptocurrency at Merchant Stores in “Real-Time.”
This is an excellent development for the cryptocurrency pair in the journey to worldwide adoption following mass adoption in the Middle East. Nayef Tawfiq Al Alawi, the founder, MD, and CEO of Eazy revealed in a LinkedIn post that customers may now use the Binance App to pay in stores using any chosen cryptocurrency.
Effortless Financial Services A Bahraini financial institution called “EazyPay” specializes in online payment gateways and point-of-sale (POS) systems. The Central Bank of Bahrain issues licenses and regulates the purchase of services.
Bitcoin is expanding quickly. The Middle East has focused a lot of emphasis on cryptocurrencies over the last several years and is well-positioned to benefit from the enormous expansion of the industry.
According to Chainalysis, the overall transaction volumes increased by nearly 500% to $15.8 trillion in 2021. There is a specialized supervisory organization in the UAE. The emirate of Dubai proposed a legal framework for virtual assets, including cryptocurrencies, after establishing a new regulatory organization, the Virtual Assets Regulation Authority.
Large cryptocurrency exchanges are also opening offices in Dubai, including FTX. Binance expanded and entered Bahrain and the United Arab Emirates, hiring for more than 100 roles there. In 2022, Dubai wants to be a regional hub for cryptocurrency, hosting a thousand crypto businesses.
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