Crypto.com, a renowned global cryptocurrency exchange, and BENEFIT, the leading fintech provider in Bahrain, have joined forces to support the fintech ecosystem in the country. This collaboration, confirmed on October 15th, aims to solidify Bahrain’s position as a hub for innovative financial technology.
During the Fintech Forward event that took place on October 3, 2024, both companies signed a Memorandum of Understanding (MOU), signaling their commitment to explore potential synergies and establish a strong partnership.
BENEFIT brings its extensive experience as Bahrain’s largest financial transaction network to the table, while Crypto.com leverages its global reputation as a leading crypto trading platform. Together, they will focus on developing payment integration solutions and implementing Crypto.com’s prepaid cards in Bahrain.
Eric Anziani, President and COO of Crypto.com, commended BENEFIT’s notable work in developing electronic payment solutions in Bahrain. He expressed his excitement about partnering with a forward-thinking company that is eager to support the growth of the digital assets industry. Anziani also emphasized Bahrain’s innovation-friendly environment, which aligns with Crypto.com’s expansion plans.
Abdulwahed AlJanahi, Chief Executive of BENEFIT, shared his enthusiasm for the potential partnership with Crypto.com. He believes that by combining BENEFIT’s expertise in electronic financial transactions with Crypto.com’s cutting-edge capabilities in the crypto realm, they can bring value to Bahrain’s evolving fintech landscape and promote the growth of digital assets in the Kingdom.
These ongoing discussions mark Crypto.com’s increasing investment in Bahrain. The company recently obtained a Payment Service Provider License from the Central Bank, further demonstrating its dedication to strengthening the fintech sector in the region.