- The Kingdom of Bahrain approved EazyPay to enable Bitcoin payments for over 5,000 merchants in the MENA region.
- EazyPay partnered with Binance to enable instant POS and online payments in bitcoin and crypto.
- Bahrain recently began testing bitcoin payments through the central bank’s Financial Services Testing Platform.
The Central Bank of Bahrain (CBB) has approved EazyPay, an online payments platform, to launch Bitcoin and cryptocurrency payments in the region, according to an announcement by the company’s CEO, Nayef Alawi.
Binance, a leading cryptocurrency exchange and payment service provider, partnered with EazyPay to enable more than 5,000 point-of-sale (POS) terminals and payment gateways in Bahrain to accept bitcoin.
Users in the zone who want to use bitcoin as payment will be prompted for a QR code from the EazyPay terminal, which can then be scanned with the Binance app, enabling near-instant payments in the chosen currency. Additionally, Binance provides convenience for companies like EazyPay and merchants who choose to leverage the platform by enabling instant fiat conversions for merchants.
Khalid Hamad, CBB’s executive director of banking supervision, reportedly congratulated EazyPay for getting the bank’s approval. Also, the CEO of Binance celebrated that EazyPay would be the first regulated and approved Bitcoin and cryptocurrency payment service offering in the Middle East and North Africa (MENA) region.
“Our strategic partnership between EazyPay and Binance is a historic regional and local milestone for both companies in the payment space,” Alawi said.
Alawi concluded by thanking the CBB “for their support for the launch of this product, which enabled Eazy to offer its valued merchants and customers competitive and innovative payment services, which cements Eazy’s position as a leading gateway provider ·online payment and POS in the Kingdom of Bahrain.”
Recently, the Kingdom of Bahrain, in partnership with the CBB and OpenNode, began testing Bitcoin payments through the central bank’s sandbox financial platform.