Binance expands its licence in Bahrain

On 24 May, the Central Bank of Bahrain (CBB) granted Binance a Category 4 licence to provide digital-asset services.

We’re excited to announce that #Binance has become the first exchange to be granted a category 4 license by the Central Bank of Bahrain.

This licence allows Binance to offer a wider range of crypto exchange services to users in the country.

— Binance (@binance) May 26, 2022

According to the regulator’s statement, the approval will allow the company to offer consumers “a full range of crypto-asset exchange services”.

“Obtaining the Category 4 licence in the Kingdom of Bahrain is a landmark achievement for Binance and again underscores our commitment to regulatory compliance,” said the Regional Director for the MENA region, Richard Teng.

The Central Bank of Bahrain a licence to operate as a digital-asset services provider in March.

The exchange also received a licence in Dubai and approval in principle from the Abu Dhabi Global Market’s Financial Services Regulatory Authority as a broker-dealer in digital assets.

Binance announced the launch of a regulated crypto platform in the Middle East in June.