TechFlow reported on September 19 that the cryptocurrency platform Crypto.com obtained a payment service provider (PSP) license from the Central Bank of Bahrain through its local subsidiary. The license will allow Crypto.com to expand payment services in the region, including electronic money business and prepaid card products.
Bahrain’s Minister of Sustainable Development, Her Excellency Noor bint Ali Alkhulaif, welcomed the announcement, stressing that this move will advance Bahrain’s vision of building a digital economy. She noted: “Crypto.com’s choice of Bahrain as an investment destination will further enhance Bahrain’s ability to achieve its vision of developing a digital, resilient and innovative economy.”