Binance Achieves Historic Milestone: First Crypto Exchange with Bahrain Category 4 License
In a landmark achievement, Binance becomes the first cryptocurrency-asset service provider to be granted a complete Category 4 license in Bahrain, solidifying its position as a leader in the Middle Eastern crypto market. This significant development underscores Binance's commitment to regulatory compliance and its dedication to providing innovative crypto services in the region.
Binance received the highly sought Category 4 license two months after obtaining a full license to conduct crypto services in Bahrain, including trading, custody, and... further demonstrating its rapid progress and strong relationship with the Central Bank of Bahrain (CBB). This upgrade allows Binance to offer a wider range of services to its users in Bahrain, enhancing the overall crypto experience.
Binance Bahrain is the first exchange to be granted a category 4 license by the CBB. This achievement is a testament to Binance's rigorous adherence to regulatory standards and its proactive approach to working with authorities worldwide. This milestone sets a new precedent for crypto exchanges operating in the region and highlights Bahrain's progressive stance on digital assets.
Two months after Binance received an operational license as a crypto-asset service provider from the Central Bank of Bahrain (CBB), the cryptocurrency exchange has... now achieved even greater regulatory approval, solidifying its long-term commitment to the Bahraini market.
Richard Teng, Head of MENA at Binance, said: The upgrade to a Category 4... license is a major step forward for Binance's operations in Bahrain. This upgrade enables Binance to offer a broader suite of services and further contribute to the growth of the crypto ecosystem in the region.
Binance has announced that its Bahrain operation would be upgraded with more crypto services after acquiring the category 4 license. This makes it the first crypto... exchange to hold such a license in the country, paving the way for increased adoption and innovation in the Bahraini crypto market. This development marks a significant step in Binance's expansion strategy, positioning it as a key player in the evolving digital asset landscape of the Middle East.
This Category 4 license allows Binance to offer a more comprehensive range of services, including regulated crypto trading, to users in Bahrain, reinforcing its commitment to providing a secure and reliable platform for digital asset enthusiasts.