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Bahrain’s Central Bank approved a partnership between EazyPay and Binance enabling 5,000 POS and online payment gateways to accept Bitcoin and Crypto merchants.
The central Bank of Bahrain (CBB) has approved EazyPay, an online payments platform, to launch Bitcoin and Cryptocurrency payments in the region, per an announcement from the company’s CEO Nayef Alawi.
Binance, a leading cryptocurrency exchange, and payment services provider, partnered with EazyPay enabling over 5,000 points of sale (POS) terminals and payment gateways in Bahrain to accept Bitcoin.
EazyPay partnered with Binance enabling instants POS and online payments in bitcoin and crypto.
Bahrain recently began testing bitcoin payments through the central bank’s financial services testing platform.
Users in the area looking to use bitcoin as payment will be prompted with a QR code from EazyPay’s terminal, which can then be scanned with the Binance App, allowing almost instant payments with the chosen currency. Additionally, Binance offers convenience for businesses such as EazyPay and the Merchants who choose to leverage the platform by enabling instant fiat conversions for merchants.
Khali Hamad, executive director of banking supervision at CBB, reportedly congratulate EazyPay on gaining approval from the bank. However, the CEO of Binance celebrated that EazyPay would be the first regulated and approved Bitcoin and Cryptocurrency payment service offered in the Middle, Eastern, and North African (MENA) region.
“Our strategic partnership between EazyPal and Binance is a historic regional and local milestone for both companies in the payment field,” said Alawi
Alawi concluded by thanking the CBB “for their support towards launching this product, which empowered EazyPay to provide its valued merchants and customers with competitive and innovative payment services, which cements EazyPay position as the leading POS and Online payment gateway provider in the Kingdom of Bahrain.
Recently, the Kingdom of Bahrain, in collaboration with the CBB and OpenNode, began testing Bitcoin Payments through the central bank’s financial sandbox platform