ANKARA (AA) – Binance, the world’s largest cryptocurrency exchange, has launched its Bahrain platform under the patronage of the country’s central bank and the Economic Development Board.
Bahraini users are able to access ‘binance.bh’ for making transactions related to cryptocurrency assets in local currencies by connecting bank accounts with binance.bh account, the crypto giant said in a statement.
Speaking at a launch event, the Bahrain Central Bank Governor Rasheed Al Maraj welcomed Binance’s decision to establish a regional headquarters for its regional operations in the Middle Eastern country.
“CBB (Central Bank of Bahrain) 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,” he added.
Khalid Humaidan, the chief executive at the Bahrain Economic Development Board, praised the country’s “strong” commitment to fintech investments.
The launch of the 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, he said.