Binance Representative Office Launches in Bahrain

The largest cryptocurrency exchange announced that users of Binance.bh will be able to access the full range of products and services of the site in national currencies.

Binance sees the Kingdom of Bahrain as a key business hub that will provide the exchange with new growth opportunities in the Gulf countries. Preliminary activities for the launch of a fully-fledged regulated representative office of the crypto exchange in Bahrain were launched in May, after obtaining a license for a crypto asset service provider (CASP) of the fourth category (crypto asset exchange).

Five months later, the Binance team was able to convince the kingdom's regulators of their willingness to cooperate to ensure user protection and market integrity. This allowed Binance.bh to gain a foothold.
in the country.

Commenting on the announcement of the exchange about the launch of the full-fledged operation of the Binance.bh platform, the Executive Director of the Bahrain Economic Development Council, Khalid Humaidan, Khalid Humaidan assured:

“The launch of Binance.bh strengthens Bahrain’s position as a leading center for crypto services and fintech innovation in the region.”

Earlier, the cryptocurrency exchange announced
on the launch of the Binance Oracle service in the BNB Chain ecosystem, which will combine off-chain data needed by applications, including in the decentralized finance sector.