Binance, a global blockchain, and cryptocurrency infrastructure provider, said that Binance Bahrain has received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB).
The license allows it to offer a full suite of crypto exchange services in Bahrain. Binance Bahrain is the first exchange to be granted a category 4 license by the CBB.
Richard Teng, Head of MENA at Binance, said: “The upgrade to a Category 4 license in the Kingdom of Bahrain is a landmark achievement for Binance and further signifies our commitment to being a compliance-first exchange.”
“This will allow us to provide the full suite of products and services that users have come to expect from an exchange, in a safe and well-regulated environment.”
The Category 4 license will allow Binance Bahrain to provide a full range of crypto-asset exchange services to customers under the supervision of the Bahrain regulators.
The recent move comes after Binance signed an MOU with Kazakhstan as it moves to develop the country’s virtual asset market.
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