Fintech Firm In Bahrain Collaborates With Binance To Enable Crypto Payments

The mainstream adoption of cryptocurrencies continues to grow tremendously throughout the world. It is quite promising to see that the cryptocurrency industry is seeing no borders or jurisdictions as it expands.

Cryptocurrency Adoption Goes to Bahrain

The adoption of cryptocurrencies has also risen in the middle-eastern region where the state with the highest adoption interest is Dubai.

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Now, it is Bahrain, which is interested to adopt cryptocurrencies and offer them to their locals and businesses.

The local businesses in Bahrain are also excited about the adoption of cryptocurrencies. They are actually excited to adopt and offer cryptocurrencies as a mode of payment.

There is a great wind of crypto adoption in Bahrain among the local businesses eager to offer cryptocurrencies as a mode of payment to the locals.

The Kingdom of Bahrain has also entered the race to adopt cryptocurrencies and offer them to their locals.

EazyPay Partners with Binance Pay

EazyPay, currently operating in Bahrain has made an announcement about its adoption of cryptocurrencies. The company has expanded itself to offering cryptocurrency services to the locals.

The online payment platform has announced its collaboration with Binance Pay. Following their deal, both companies will be working to offer cryptocurrency services to Bahrain locals.

Nayef Tawfiq, Al Alawi, the founder and CEO at EazyPay made the announcement of their partnership with Binance Pay on Wednesday.

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Availability of the Service

Following their partnership, the ability to make payments with cryptocurrencies will be made available at thousands of point-of-sale (PoS). As per sources, the cryptocurrency payment capability will be introduced to over 5,000 PoS terminals.

In addition to the PoS terminals, cryptocurrency payment services will available for locals all over Bahrain via online payment gateways.

Service Providers to Accept Crypto Payments

Major firms and merchants found locally in Bahrain will be able to accept cryptocurrency payments through the same partnership.

The firms and merchants would include Jasmi’s, Al Zain Jewelry, Sharaf DG, and Lulu Hypermarket. These businesses would be able to accept over 70 cryptocurrencies facilitating the locals.

They would be able to accept payments in cryptocurrencies using the Binance Application on the PoS powered by EazyPay. The transactions will be made by scanning the QR codes.

Eazy Financial Services is one of the only online financial services companies in Bahrain that is regulated by the central bank of Bahrain.

As per records, it is the fifth payment services provider and online and PoS payment gateway acquirer in Bahrain.

The latest development in regard to cryptocurrencies in the country is a huge step towards crypto adoption in Bahrain. This would help increase the adoption rate of cryptocurrencies not only in Bahrain but also increase their demand in the market.