Cryptocom Secures Crypto Payment License in Bahrain, Expands GCC Presence
Crypto.com, a leading global crypto exchange, has secured a crypto payment service provider license in Bahrain from the Central Bank of Bahrain, following its earlier licensing by Dubai’s VARA in the UAE.
This license is part of Crypto.com’s strategy to expand its footprint in the GCC region. The license, granted through its Bahrain subsidiary, “FORIS GFS BH B.S.C. CLOSED,” will enable the company to enhance its e-money and fiat payment services, including the launch of its renowned prepaid cards.
H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board, welcomed Crypto.com’s investment, highlighting Bahrain’s commitment to building a digital-first, resilient economy. She added, “Backed by the agility of our Team Bahrain approach, which fosters a streamlined investment environment that champions ease of doing business, Bahrain is successfully building a world-class ecosystem to support the evolution of the fast-growing blockchain, crypto and fintech industry. This is further supported by robust regulations and a diverse, highly skilled, and future-ready talent pool, particularly within the financial services and technology sectors.”
Eric Anziani, President and COO of Crypto.com, praised Bahrain’s innovation-friendly approach and clear regulations, expressing appreciation for the Kingdom’s efforts to balance consumer protection with commercialization. “ We look forward to progressing our relationship as we play our part in growing the crypto industry in Bahrain and across the GCC,” he said.
Bahrain was a pioneer in issuing crypto-asset licenses in the region, having previously licensed companies like Rain, CoinMENA, and Binance.
Crypto.com also holds licenses in various key markets globally, including Singapore, France, Australia, Ireland, Malta, the UK, the US, Canada, and South Korea.
