- BPay Global gets Bahrain approval to offer fiat services and e-wallets for Binance users worldwide.
- Crypto.com secures Bahrain license to expand payment services and launch prepaid cards in the region.
- Bahrain strengthens its position as a hub for fintech by licensing global crypto and payment companies.
The Central Bank of Bahrain (CBB) has granted a Payment Service Provider (PSP) license to BPay Global. This license allows the company to offer fiat services to Binance customers worldwide. BPay Global is part of the Binance Group, which continues to expand its financial services globally.
This license allows BPay Global to perform fiat top ups and withdrawals via the Binance platform. In addition, customers will be able to access e wallet services to make bank transfers and payments using cards. The company can also now offer custody services on customer funds.
Bahrain has strengthened its position as a leader in digital payment solutions by this move. The country’s ongoing efforts to further its financial technology sector is supported by its approval. Bahrain wants to continue operating as a trusted hub for regulated fintech services.
Binance Enhances Global Payment Network
BPay Global is the first Binance-affiliated company to secure a PSP license. This milestone expands Binance’s payment network and improves access to fiat services for its users. Customers will enjoy lower fees and more convenient ways to manage their transactions.
The new services offer Binance users the flexibility to handle fiat currencies efficiently. With this step, Binance continues to strengthen its global presence in the payment services market. BPay Global’s license highlights Bahrain’s appeal as a base for digital finance operations.
The Bahrain Economic Development Board actively supports companies by providing strategic investment guidance. This assistance helps Bahrain attract fintech companies seeking a secure and regulated environment.
Crypto.com Expands Services in Bahrain
Crypto.com has also recently gained full approval from the CBB to operate as a Payment Service Provider. Its Bahrain-based subsidiary, FORIS GFS BH B.S.C. CLOSED, will now offer expanded fiat and e-money services. The company plans to introduce prepaid cards in the region to enhance its offerings.
Bahrain remains a pioneer in regulating crypto assets within the Gulf Cooperation Council. The country’s clear regulatory approach continues to draw international fintech companies. Crypto.com’s expansion reflects growing interest in Bahrain as a center for digital finance.
Bahrain Strengthens Fintech Leadership
The approval of Crypto.com and BPay Global is a recognition of Bahrain’s efforts towards the advancement of its own fintech ecosystem. The country is determined to provide secure and innovative financial services and so it is attracting both regional and global players in the financial industry.
The issuance of licenses by Bahrain makes its financial landscape more competitive and diverse in support of its long term economic goals.
