Crypto.com obtains PSP license in Bahrain: what does it mean for the cryptocurrency market?

Crypto.com Receives PSP License in Bahrain

Crypto.com, a leading global provider of cryptocurrency services, has obtained full approval to operate as a Payment Service Provider (PSP) from the Central Bank of Bahrain. This decision was made through Crypto.com’s subsidiary registered in the Kingdom of Bahrain under the trade name “FORIS GFS BH B.S.C. CLOSED.”

Crypto.com’s Expansion into the Regional Market

With the acquired PSP license, Crypto.com will be able to expand its range of e-money services and fiat payments on a regional level. The company also plans to introduce its renowned prepaid cards to the market, which are highly popular among users worldwide.

Bahrain – Fintech Innovation Hub in the GCC Region

Bahrain plays a crucial role in the development of digital asset regulations in the Gulf Cooperation Council (GCC) countries. It was one of the first in the region to issue licenses for cryptocurrency assets, strengthening its position as a leading hub for cryptographic services and fintech innovation.

Collaboration with Bahrain EDB

The Bahrain Economic Development Board (EDB) collaborates closely with potential and existing clients, offering key services such as industry assessments and strategic advice. Their primary goal is to attract investments to Bahrain and support the growth of the fintech sector in the country.

Crypto.com’s Global Expansion

Crypto.com, which already has over 100 million users worldwide, continues its expansion into international markets. The company has obtained licenses in several countries, including Singapore, France, Australia, Ireland, Malta, the United Kingdom, the United States, Canada, and South Korea, showcasing its commitment to the development of the global cryptocurrency services ecosystem.