Binance Launches in Bahrain with the Support of Central Bank and Economic Development Board

Binance, a leading global centralized exchange services provider, launched binance.bh, a new and regulated platform where users can access Binance's range of regulated products and services, including direct top ups and withdrawals in local currencies. To celebrate the launch, Binance hosted a high-profile event under the patronage of the Governor of the Central Bank of Bahrain, H.E. Rasheed Al Maraj, and the Chief Executive of the Bahrain Economic Development Board, H.E. Khalid Humaidan, at the Bahrain Institute for Banking and Finance (BIBF).

HZM are among the attendances. Founders Mohamed Al Zobaei, Yusuf Haji, and Fahad Faqeeh were present to witness the launch and we welcome "Binance to Bahrain"

Tameem Al Moosawi, General Manager of Binance Bahrain, welcomed attendees with an opening speech, followed by a fireside discussion between H.E. Khalid Humaidan and Changpeng Zhao (“CZ”), co-Founder and CEO of Binance. They covered topics of interest including the state of the crypto market in the Middle East, the financial services sector's landscape, enabling innovation, and the future opportunities for the region to become a global crypto hub.

Binance received its license as a Crypto Asset Service Provider / Category-4 (crypto-assets Exchange) on May 19, 2022, and the binance.bh platform now allows Binance to provide a wide range of crypto-asset exchange services to customers. This means that new customers can sign up to the newly regulated platform and access a range of products and services.

His Excellency Rasheed Al Maraj, Governor of the Central Bank of Bahrain (CBB), welcomed Binance's decision to establish a regional headquarters in Bahrain, saying "The 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."

His Excellency Khalid Humaidan, Chief Executive at the Bahrain Economic Development Board, added that "the launch of [Binance's] platform reaffirms Bahrain's position as a leading hub for crypto assets, blockchain, and fintech innovations, not just in the region but around the world."

Binance views the Kingdom of Bahrain as a key business hub for growth and employment within the industry. The company's focus on compliance and security controls, as well as its commitment to working closely with regulators, has allowed Binance to establish a strong presence in the GCC and contribute to the region's status as a fast-emerging global crypto asset hub.

About Binance

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by trading volume. Trusted by millions worldwide, Binance is committed to increasing financial freedom for users, and features an unmatched portfolio of crypto products and offerings, including: crypto trading, education, research, decentralization and infrastructure solutions, charity and more. For more information, visit: https://www.binance.com