Leading crypto exchange Binance, announced today that it has been granted a crypto-asset service provider license from the Central Bank of Bahrain (CBB). Further, this license for Binance represents its first approval as a crypto-asset provider in The Cooperation Council for the Arab States of the Gulf (GCC).
“I would like to thank Team Bahrain, guided by the visionary leadership of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, and Prime Minister, for the great work in facilitating this achievement. Team Bahrain has shown considerable foresight in its development of crypto regulations and provides the regulatory protections that consumers should come to expect from regulators…”
– Changpeng Zhao (CZ), Founder & CEO of Binance
The new crypto-asset license will allow Binance to provide crypto-asset trading, custodial services, and portfolio management to customers under the supervision of the Bahrain regulators.
“Team Bahrain has built a world-class infrastructure to support the fast-growing blockchain and crypto industry, with robust regulations and diverse talent within the financial services, fintech, and technology sectors.”
– Khalid Humaidan, CEO of the Bahrain Economic Development Board (EDB)