Crypto.com bags Payment Service Provider License in Bahrain

Crypto.com has received full approval from the Central Bank of Bahrain to provide payment service provider (PSP) services. The approval comes through its subsidiary registered in the Kingdom of Bahrain under the commercial name “FORIS GFS BH B.S.C. CLOSED.”

Crypto.com is now operational in Bahrain

According to Crypto.com’s official announcement, the PSP license will allow the crypto exchange to expand its offerings of e-money and fiat-based payment services regionally. This will also include the launch of its world-renowned prepaid cards. 

On the partnership, H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain Economic Development Board, said, “With its extensive international presence and an earned reputation for regulatory compliance, we are delighted that Crypto.com has chosen the Kingdom of Bahrain as a destination for investment, which will further bolster Bahrain’s ability to deliver on its vision of developing a digital-first, resilient economy that celebrates innovation and progress.”

Bahrain intends to foster a streamlined investment environment prioritizing ease of doing business. Bahrain is successfully creating a world-class ecosystem to support the rapidly expanding blockchain, crypto, and fintech industries. 

To that end, Eric Anziani, President and COO of Crypto.com, says, “We appreciate the work of the Kingdom and look forward to progressing our relationship as we play our part in growing the crypto industry in Bahrain and across the GCC.”

Earlier in April, the Singapore-based digital asset exchange Crypto.com received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for its local entity.

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