Sun, January 15, 2023 ▪ 2.00 pm ▪
4
min read – from
For Changpeng Zhao, the list of Bahraini qualities is long. In a recent tweet, you mentioned 7 of them, among others: the sympathy of the Bahrainis, the quality of their food or the speed with which they have adopted cryptocurrencies.
Bahrain, “nice people” and a crypto-friendly country
Qatar used the 2022 FIFA World Cup to celebrate its reconciliation with cryptocurrencies. Located just 84 kilometers from this West Asian state, Bahrain is not hiding its openness with this new digital asset that is currently getting a lot of ink flowing. CZ does not hesitate to speak well of this state which opened his losses at the beginning of the year 2022.
Bahrain, a crypto friendly state? This is what the Binance boss wants to clarify in this tweet. A very compelling argument since the country has long aspired to become the crypto hub of the Middle East. In fact, unlike the central banks of some countries, that of Bahrain has chosen the path of opening up to cryptocurrencies. This has ensured that crypto payments enjoy a well-regulated framework in the country.
Binance, which planned to establish itself there in December 2021, was able to obtain a license as a cryptocurrency-related service provider in mid-March 2022.
Growing adoptions
Last September, Cointelegraph reported that Bahrain is increasingly involved in cryptocurrencies. At that time, the local central bank authorized EazyPay to facilitate payments with these assets throughout Bahrain. A partnership with Binance Pay has enabled leading local merchants and businesses to accept over 70 cryptocurrencies simply by scanning an EazyPay PoS QR code.
” The newly launched cryptocurrency payment option will be available at over 5,000 point-of-sale (PoS) terminals and online payment gateways across Bahrain said Nayef Tawfiq Al Alawi, CEO of Eazy.
CZ, for his part, defined this initiative as “ first regulated and approved cryptocurrency payment service offering in the Middle East and North Africa.
Sure, Bahrain is the third smallest country in Asia, but that doesn’t stop it from posting a good economic performance. Surprisingly, the country is in 23And position in the list of richest countries in the world. To say that some countries largely spoiled by Mother Nature that have not taken the plunge, such as El Salvador or the Central African Republic, are struggling to free themselves from the yoke of financial institutions thanks to cryptocurrencies.
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The blockchain and cryptocurrency revolution is underway! And the day the impacts are felt on this world’s most vulnerable economy, against all hope, I’ll say I had something to do with it.