Summary:
- Binance has announced the launch of its Bahrain trading platform, Binance,bh
- Binance received a license as a Crypto Asset Service Provider (CASP) in Bahrain in May 2022
The largest crypto exchange in terms of trade volume and users, Binance, has just announced the launch of its Bahrain platform, binance.bh.
Binance.bh to Be Fully Regulated by the Central Bank of Bahrain
The Central Bank of Bahrain will fully regulate the new platform, and Bahrain users can access Binance’s full range of regulated crypto-asset exchange services.
In addition, the new platform will have local banking options ‘including direct deposits and withdrawals in local currencies, under the supervision of the Central Bank of Bahrain.’
Binance Received a Category 4 License as a Crypto-Asset Service Provider in May 2022
Binance opening a local trading platform in Bahrain comes less than five months after the exchange received a category 4 license to operate in the country as a crypto-asset service provider. Binance got the license in late May, and it was also issued by the Central Bank of Bahrain.
The team at Binance added that the license would pave the way for the country to become a global crypto hub. They explained:
By granting the license, Bahrain is well on its way to becoming a leading global hub for crypto in the area. Specifically, the Category 4 license will allow Binance Bahrain to offer crypto-asset exchange services to customers under the supervision of the Bahrain regulators.
[Feature image of the Bahrain World Trade Center courtesy of Unsplash.com]
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