Bahrain Regulated Fintech Enables Crypto Payments with Binance

Central Bank of Bahrain gives a nod to EazyPay, launching crypto payments for over 5,000 payment gateways in the world country.

Cryptocurrency adoption continues to grow in the Kingdom of Bahrain, with local businesses enabling crypto payments like Bitcoin (BTC).

EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country, EazyPay CEO and Founder Nayef announced on Wednesday Tawfiq Al Alawi.

The new crypto payment option will be available at more than 5,000 point-of-sale (POS) terminals and online payment gateways in Bahrain, the CEO said.

Major local merchants and businesses, including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry and Jasmi's, will be able to accept over 70 cryptocurrencies as payment by scanning the Eazy POS QR code at Binance app help.

Al Alawi pointed out that Eazy Financial Services is licensed and regulated by the Central Bank of Bahrain as a fifth largest POS and online payment gateway acquirer and payment service provider.

“Special thanks to the Central Bank of Bahrain, Binance and Eazy Financial Services,” he noted. Khalid Hamad Al Hamad, Executive Director of Banking Supervision at CBB, also praised Eazy for rolling out the new crypto payment service.

Binance CEO Changpeng Zhao noted that EazyPay's crypto payment feature will be the "first regulated and approved crypto payment service offering" in the Middle East and North Africa region . As previously reported, Binance has received several regulatory approvals in Bahrain, including one