In an effort to enhance Bahrain’s fintech landscape, Crypto.com, a prominent global cryptocurrency exchange, and BENEFIT, the primary financial technology provider in Bahrain, have engaged in discussions to fortify the country’s fintech ecosystem. This collaboration, unveiled to Finbold on a notable Tuesday in October, signifies a promising stride towards a prospective partnership following the signing of a Memorandum of Understanding (MOU) at Bahrain’s Fintech Forward event on October 3, 2024.
BENEFIT, recognized for its role as the largest financial transaction network in Bahrain, brings a wealth of experience to the table, while Crypto.com’s stellar reputation as a leading crypto trading platform globally further solidifies the partnership. The primary focus of this collaboration involves exploring solutions related to payment integration and the potential deployment of Crypto.com’s prepaid cards in Bahrain.
Eric Anziani, Crypto.com’s President and Chief Operating Officer (COO), commended BENEFIT’s strides in electronic payment solutions, highlighting their innovative contributions to Bahrain’s electronic payments space. Meanwhile, Abdulwahed AlJanahi, BENEFIT’s Chief Executive, expressed enthusiasm about the collaboration with Crypto.com, emphasizing their joint mission to drive innovation in Bahrain’s financial services sector.
These ongoing conversations underscore Crypto.com’s increasing investment in Bahrain, exemplified by the recent acquisition of a Payment Service Provider License from the Central Bank. This strategic move further illustrates the company’s dedication to fortifying the fintech landscape in the region and fostering the growth of digital assets in the Kingdom.