Crypto.com, a prominent global cryptocurrency platform, and BENEFIT, the leading fintech provider in Bahrain, have initiated discussions to enhance the fintech ecosystem in Bahrain. This collaboration was unveiled to Finbold on Tuesday, October 15, marking a significant step towards fostering innovation in the region.
The partnership was formalized through the signing of a Memorandum of Understanding (MOU) at Bahrain’s Fintech Forward event on October 3, 2024, laying the groundwork for potential future cooperation.
BENEFIT brings its expertise as the largest financial transaction network in Bahrain, while Crypto.com contributes its extensive experience in the crypto trading sphere. Together, they aim to explore solutions related to payment integration and the introduction of Crypto.com’s prepaid cards in Bahrain.
Eric Anziani, President and COO of Crypto.com, commended BENEFIT’s commitment to advancing electronic payment solutions in Bahrain, emphasizing the mutual interest in nurturing the digital assets industry. On the other hand, Abdulwahed AlJanahi, CEO of BENEFIT, expressed enthusiasm for the collaboration with Crypto.com, highlighting the alignment with their mission to drive innovation in the financial services sector of Bahrain.
These ongoing discussions reflect Crypto.com’s growing presence in Bahrain, exemplified by the recent acquisition of a Payment Service Provider License from the Central Bank. This regulatory approval reinforces Crypto.com’s dedication to strengthening the fintech landscape in the region, promising valuable contributions to the growth of digital assets in the Kingdom.
