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Binance goes live in Bahrain


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Popular crypto exchange, Binance has unveiled its platform in Bahrain. The exchange announced the development in its Thursday Twitter post. According to Binance, the launching of its platform in Bahrain manifested after it received an approval to run as a crypto asset service provider (CASP) last May.

According to the announcement, the platform, identified as binance.bh will run as a fully regulated platform by the Central Bank of Bahrain. Notably, it will allow Bahrain users to access Binance’s full range of regulated crypto-asset exchange services. More so, Binance through the platform intends to avail local banking options, including direct deposits and withdrawals in local currencies, under the supervision of the Central Bank of Bahrain.

Binance, however, urges new users to sign up with the new regulated platform. According to the exchange, it offers them direct banking alternatives and a variety of regulated crypto products.

Binance standing tall despite market conditions

Worth noting, despite the prevailing bear market, Binance has continued to stand tall in its quest to widen its offerings across the globe. The crypto exchange, in recent times, obtained numerous licenses in different countries across the globe. In July, Binance secured an operational license for its Spanish subsidiary, Moon Tech Spain. Also, the crypto exchange recently obtained an in-principle license to operate in Kazakhstan. Additionally, Binance has already expanded its operations to France, Italy and others after obtaining the regulatory permits of these countries.

Chanpeng Zhao, Binance founder said the exchange gives utmost priority to compliance. According to him, this principle guides the exchange to always avail its products in well-regulated environments across the globe.

Also, the leading crypto exchange, has over time, engaged in numerous partnerships to improve its services. Recently, it collaborated Mastercard to initiate its card in Argentina. According to the exchange, launching the product in the country was driven by its unrelenting commitment to enhance global crypto adoption. The card allows its Argentina users to enjoy user-friendly transactions in converting their crypto to fiat. Also, it allows them to take about 8% in crypto cash back on every suitable purchases with zero fees on withdrawals.

Binance also dominated the airspace last June after it partnered Manchester United star player, Cristiano Ronaldo. The partnership as reported manifested so as to boost the popularly of cryptocurrencies among lovers of football. Further, it also collaborated with Busan to aid blockchain development in the city. As revealed, Binance, through this partnership, will avail technological and infrastructural aid to Busan.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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