Binance Bahrain’s full range of cryptocurrency exchange services has been approved by the Bahraini government.

By Samantha Allen

Published: May 30, 2022 | 3:07 PM GMT

The Government of Bahrain has welcomed the decision of the Central Bank of Bahrain to issue a Category 4 licence to Binance Bahrain as a crypto-asset service provider, a first for the Kingdom, enabling the exchange platform to provide a full-suite of crypto exchange services it has available in Bahrain.

The Category 4 licence approval is a significant upgrade from an initial licence granted to Binance in March of this year, the firm’s first such license in the GCC.

In addition to the rights to providing crypto trading, custodial, and portfolio management services in the Kingdom, new services that will be available on the licenced Binance platform include:

• Futures

• Spot Trading

• Initial Coin Offering

• Initial Exchange Offering

The Central Bank of Bahrain, as the Kingdom’s sole regulator, will ensure that service providers meet strict requirements on money laundering and terrorist financing, to protect platform and service users. It has an efficient regulatory framework applied to all financial services entities operating in Bahrain, whether they are providing crypto-services, or those within conventional banking, insurance, investment business and capital market activities.

The Chief Executive of the Bahrain Economic Development Board, His Excellency Khalid Humaidan, said:

“The international appetite for crypto-services remains strong, and this licence approval confirms Bahrain’s place as a leading hub for cryptocurrency exchange services, not just in the region but globally.

“Complementing the Kingdom’s established and trusted world class infrastructure to support the blockchain and crypto industry, is a young, enthusiastic, well educated, and talented workforce – with skills ready made for the jobs of the future.

“Projects such as Bahrain’s Fintech Bay and Citi Global Technology Hub are already bringing exciting new opportunities to the Kingdom, and Government reforms are creating an environment in which businesses and talent will thrive, in a truly diversified economy. The growth of regulated crypto-services in Bahrain is wholly consistent with Kingdom’s confidence, ambition and vision.”

ZHB

About Samantha Allen

Samantha Allen is a seasoned journalist and senior correspondent at TDPel Media, specializing in the intersection of maternal health, clinical wellness, and public policy. With a background in investigative reporting and a passion for data-driven storytelling, Samantha has become a trusted voice for expectant mothers and healthcare advocates worldwide. Her work focuses on translating complex medical research into actionable insights, covering everything from prenatal fitness and neonatal care to the socioeconomic impacts of healthcare legislation. At TDPel Media, Samantha leads the agency's health analytics desk, ensuring that every report is grounded in accuracy, empathy, and scientific integrity. When she isn't in the newsroom, she is an advocate for community-led wellness initiatives and an avid explorer of California’s coastal trails.