BPay Global Dapatkan Lisensi Pembayaran dari Bank Sentral Bahrain
Binance Subsidiary BPay Global Secures Payment License from Central Bank of Bahrain https://cryptonews.com/news/bpay-global-psp-license-bahrain/

BPay Global, Binance's Subsidiary, Secures Payment License from Central Bank of Bahrain

Binance's subsidiary, BPay Global, has obtained a Payment Service Provider license from the Central Bank of Bahrain, allowing it to provide regulated fiat services globally. The license enables BPay Global to operate as a PSP in Bahrain, enabling users to conduct fiat transactions through bank transfers and debit or credit cards directly on the platform.

This development marks a significant milestone in Bahrain's efforts to establish itself as a major hub for digital finance in the Middle East and North Africa (MENA) region. The license will enable BPay Global to provide a range of services, including fiat top-ups, withdrawals, custodial services, and e-wallet functions.

The Central Bank of Bahrain's Director of Licensing, Abdulla Haji, said that the license represents a positive step in enhancing the country's digital payments ecosystem. Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, added that the license will provide users with further choice of low-cost fiat on-and off-ramps.

This development is part of a broader trend of regulatory clarity in digital finance, as governments around the world begin to formalize oversight of digital asset platforms. In February, OKX secured passporting rights under the European Union's Markets in Crypto-Assets (MiCA) framework, allowing it to provide services across 28 European Economic Area (EEA) states.

BPay Global's licensing follows similar developments in Europe, where exchanges like Kraken have secured electronic money institution (EMI) licenses from the UK Financial Conduct Authority. These developments reflect the growing effort to integrate crypto services into established financial frameworks.

Binance's move into Bahrain underscores its commitment to expanding its regulated service offerings in the Gulf region. The company has already obtained licenses in several other jurisdictions, including Europe and the United States. With its new PSP license in Bahrain, BPay Global is poised to establish itself as a leading player in the region's digital finance landscape.