EazyPay, an online payment platform regulated by the Central Bank of Bahrain (CBB), has partnered with Binance Pay to enable crypto payments in the country by EazyPay CEO and founder Nayef Tawfiq Al Alawi. announceon wednesday
The newly launched crypto payment option will be available at the service point. More than 5000 point-of-sale (PoS) locations and online payments across Bahrain, according to the CEO.
Major local merchants and companies including Lulu Hypermarket, Sharaf DG, Al Zain Jewelry and Jasmi’s will now be able to accept more than 70 cryptocurrencies by scanning a QR code from Eazy’s PoS using the Binance App.
“Special thanks to the Central Bank of Bahrain, Binance , and Eazy Financial Services,” Al Alawi said, Khalid Hamad Al Hamad, Executive Director of Banking Supervision at CBB.congratulatewith Eazy starting this new crypto payment service.
Changpeng Zhao, CEO of Binance notedthat EazyPay’s crypto payment feature will be “the first regulated and approved crypto payment service” in the Middle East and North Africa region.
Bahrain has seen more use of cryptocurrencies in the past few years, with CBB in 2019. got outA framework for crypto-related activities and defines rules for licensing, governance, risk management, anti-money laundering standards.
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