Binance Receives License to Operate in Bahrain

Binance Receives License to Operate in Bahrain

The world’s largest crypto exchange Binance has received a license from the Central Bank of Bahrain to operate in the country. The exchange is now allowed to offer its services to Bahraini customers, including crypto trading, custody, and portfolio management services.

Preliminary approval for the license was given to Binance in December of 2020, pending the completion of the application process. The Bahrain license is the company’s first in the Middle East/North Africa (MENA) region.

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Changpeng ‘CZ’ Zhao, founder and CEO of Binance, said:

“The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world.”

Khalid Humaidan, CEO of the Bahrain Economic Development Board, commented:

“Team Bahrain has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with robust regulations. … Collaboration with industry leaders such as Binance will further enhance our mission to establish the Kingdom of Bahrain as a leading business hub.”

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Source: igaming