Bahrain Approves Bitcoin, Crypto Payments For Over 5,000 Merchants

Bahrain’s cardinal slope approved a concern betwixt EazyPay and Binance enabling 5,000 POS and online outgo gateways to judge bitcoin and crypto.

• The Kingdom of Bahrain approved EazyPay to alteration Bitcoin payments for implicit 5,000 merchants successful the MENA region.
• EazyPay partnered with Binance enabling instant POS and online payments successful bitcoin and crypto.
• Bahrain precocious began investigating bitcoin payments done the cardinal bank’s fiscal services investigating platform.

The Central Bank of Bahrain (CBB) has approved EazyPay, an online payments platform, to motorboat Bitcoin and cryptocurrency payments successful the region, per an announcement from the company’s CEO Nayef Alawi.

Binance, a starring cryptocurrency speech and outgo services provider, partnered with EazyPay enabling implicit 5,000 point-of-sale (POS) terminals and outgo gateways successful Bahrain to judge bitcoin.

Users successful the country looking to usage bitcoin arsenic outgo volition beryllium prompted with a QR codification from EazyPay’s terminal, which tin past beryllium scanned with the Binance App, allowing astir instant payments with the chosen currency. Additionally, Binance offers convenience for businesses specified arsenic EazyPay and the merchants who take to leverage the level by enabling instant fiat conversions for the merchants.

Khalid Hamad, enforcement manager of the banking supervision astatine CBB, reportedly congratulated EazyPay connected gaining support from the bank. Additionally, the CEO of Binance celebrated that EazyPay would beryllium the archetypal regulated and approved Bitcoin and cryptocurrency outgo services offering successful the Middle Eastern and North African (MENA) region.

“Our strategical concern betwixt EazyPay and Binance is simply a historical determination & section milestone for some companies successful the outgo field,” said Alawi.

Alawi concluded by thanking the CBB “for their enactment towards launching this product, which empowered Eazy to supply its valued merchants & customers with competitory and innovative outgo services, which cements Eazy’s presumption arsenic the starring POS & Online outgo gateway supplier successful the Kingdom of Bahrain.”

Recently, the Kingdom of Bahrain, successful collaboration with the CBB and OpenNode, began testing Bitcoin payments done the cardinal bank’s fiscal sandbox platform.