Singapore-based cryptocurrency exchange Crypto.com continues to expand its presence in the MENA region by securing a full payment service provider license from the Central Bank of Bahrain (CBB). This license authorizes the exchange’s local subsidiary to offer e-money and fiat services in the Gulf Cooperation Council (GCC) countries.

Crypto.com is one of the few crypto exchanges licensed in Bahrain. Binance and BitOasis also hold similar licenses. Crypto.com COO Eric Anziani said that Bahrain is creating an innovation-friendly crypto and fintech ecosystem.

Crypto.com has also secured a virtual asset service provider license from Dubai’s VARA, strengthening its presence in the GCC. Share your thoughts in the comments.