Crypto leading giant Binance launches platform in Bahrain

‌The largest blockchain services company Binance initiated a brand-new platform in Bahrain on Monday called binance.bh which grants users access to a number of regulated products and services.

It allows direct top-ups, and withdrawals in local currencies. Users only have to connect their bank accounts with their binance.bh account to start benefitting from the services of the platform.

According to Tameem Al Moosawi, General Manager Binance Bahrain statement: “Working closely with cities and regulatory bodies is a vital part of our approach to market; not just from a compliance perspective, but also to safeguard users by providing consumer protection and market security. We see huge potential in Bahrain and it is fantastic to be able to contribute and be a part of this region’s journey towards flourishing as a global hub for all things blockchain.”

“As part of the ongoing collaboration between banks and industry and sector leaders, The Central Bank of Bahrain (CBB) welcomes Binance’s decision to establish a regional headquarters for its Middle East operations in Bahrain. CBB aims to develop a supervisory framework that facilitates innovation and appropriate regulatory controls for encrypted asset trading service providers and their clients, based on global trends and developments in financial services,” Bahrain Central Bank governor Rasheed Al Maraj stated.