Bahrain digital asset exchange ATME issues gold backed tokens

Bahrain digital asset exchange ATME issues gold backed tokens

Bahrain regulated digital assets exchange platform ATME, has issued gold-backed tokens with the support of the Central Bank of Bahrain marking it as the first case of its kind in the Kingdom of Bahrain.


ATME issued two tokens, designed for accredited investors, which were acquired by an eligible investor. Each token is backed by one kilogram of gold to provide a modern and secure way to invest in one of the most trusted assets for wealth preservation.


The company’s tokenized gold offering allows ownership of the physical metal without the complexities of storage or transportation. The tokens represent gold that is securely held in custody until its redemption or trade in ATME’s secondary market.


Commenting on the milestone, Alex Lola, Chief Executive Officer of ATME remarked, “Today marks a defining moment for ATME as we launch our first tokenized gold issuance. By combining the timeless value of gold with the transformative potential of blockchain technology, we are unlocking new ways for investors to access and trade high-value assets. This achievement highlights our team’s tireless dedication and our collective vision of building. We are excited about the possibilities ahead as we plan to expand our offerings to include more asset classes on our platform.”


The announcement also notes that future issuances will provide investors with access to a wider range of alternative assets. ATME remains focused on driving financial inclusivity and efficiency in the capital markets of Bahrain and the wider region.

AFS to offer stablecoin payment platform for merchants in UAE

AFS to offer stablecoin payment platform for merchants in UAE

Arab Financial Services (AFS), regulated by the Central Bank of Bahrain and Egypt, also holding a retail payment license in the UAE has partnered with Ternoa Blockchain to launch stablecoin and crypto payments across POS ( Point of Service) counters for UAE merchants. The partnership will expand across the GCC.

Ternoa, is a fast, secure & cost-efficient PayFi network that is designed to onboard billions of retail customers into crypto. Ternoa as per the announcement will use decentralized consumer finance protocol, Athar, a secure and cost-efficient PayFi network to onboard UAE merchants into the crypto and stablecoin era. Athar will enable stablecoin payments at Point-of-Sales (PoS) terminals.

AFS is owned by a total of 37 banks and financial institutions and services over 60 banks in more than 20 countries across the Middle East and African region.

The Athar protocol will make crypto payments easier and more accessible for every day transactions with AFS deploying the Athar solution for merchants in UAE.

Samer Soliman, AFS CEO noted that AFS is committed to driving innovation in the payments industry and expanding access to seamless, secure, and future-ready solutions.

He stated, “By integrating stablecoins and decentralized finance, we are unlocking new possibilities for merchants and consumers across the UAE, paving the way for the broader adoption of digital payments in the region.”

Ternoa CEO, Mr. Mickael Canu added, “The next big step for blockchain and digital finance is making it useful in everyday life. The payments and financial services industries are massive and bringing them onto Ethereum will open up exciting new possibilities. Our partnership using Athar with AFS will make digital payments faster, more secure, and accessible.”

AFS received UAE Retail Payment Service License in 2024

AFS recently made a strategic expansion into the United Arab Emirates (UAE). The move followed the successful acquisition of a Retail Payment Services License – Category II from the Central Bank of the UAE by Arab Financial Services L.L.C, allowing AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country’s dynamic financial landscape.

At the time Soliman noted that the license was a pivotal juncture in their regional expansion strategy. He noted that they were excited to launch innovative payment solutions in the country.

“Expanding into the UAE is a tremendous opportunity for us to bring our market-leading payment and fintech capabilities to a country that values innovation and security in digital financial services,” said Rizwan Khan, Managing Director for AFS UAE and Oman. “We are delighted to partner with local businesses and regulatory bodies to help nurture an inclusive digital ecosystem that meets the fast-evolving needs of the UAE and contribute to strengthening the country’s standing as a global fintech hub.”

UAE Central Bank passed stablecoin payments regulations

The UAE Central Bank in 2024 passed its stablecoin payment regulations that allowed regulated AED-backed stablecoins to be used inside the country for the purchase of products and services.

Bahrain and Malaysia to cooperate on crypto sandbox

Bahrain and Malaysia to cooperate on crypto sandbox

In a recent official visit by Malaysia’s Prime Minister Datuk Seri Anwar to Bahrain where he met with Bahrain’s Minister of Finance and Economy Shaikh Salman Bin Khalifa Al Khalifa to Malaysia, discussions on cooperating when it comes to cryptocurrencies and fintech were revealed.

As per Malaysia’s Prime Minister Datuk Seri Anwar both Malaysia and Bahrain are committed to strengthening their economies including areas related to cryptocurrencies and a potential sandbox platform.

“In addition, we also discussed cooperation in tourism, the connectivity between Kuala Lumpur and Manama, as well as in the manufacturing sector,” he said in a statement today.

Anwar said that Bahrain had also expressed its commitment to the success of the Asean-Gulf Cooperation Council (GCC) Summit and the Asean-GCC+China Summit, which will be attended by Crown Prince and Prime Minister Sheikh Salman Hamad al-Khalifa.

Malaysia discussed crypto regulatory frameworks with Binance and UAE as well

Earlier in January 2025, Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim met with Binance founder Changpeng Zhao and UAE officials to discuss potential crypto regulatory frameworks. The discussions, which took place during Anwar’s three-day official visit to Abu Dhabi, centered on establishing policies that could recognize the crypto industry and modernize Malaysia’s financial system.

As noted at the time, Ibrahim stated, “I had lengthy discussions with the Abu Dhabi leadership and Changpeng Zhao, co-founder of the world’s largest cryptocurrency platform, Binance,” Anwar said, adding that he has urged the central bank and Treasury to study digital finance to avoid being left behind and protect the public interest.”

UAE policymakers expressed willingness to collaborate with Malaysia in developing its crypto regulatory approach.

Bahrain one of leading crypto regulated MENA countries

Bahrain was one of the first countries in the Middle East and Gulf to regulate cryptocurrencies through its Central Bank. It also launched a crypto sandbox and has since licensed several crypto exchanges including Binance, Crypto.com, CoinMENA, RAIN, BitOasis and others.

It is currently working on its stablecoin regulations as well as researching CBDC implementations.

Crypto Regulations in Malaysia need further development

Malaysia considers crypto as securities and are traded as such in the country, however The Central Bank of Malaysia Act establishes the ringgit as the country’s sole legal tender, effectively excluding cryptocurrencies from this status. Oversight of cryptocurrencies is shared between Bank Negara Malaysia and the Securities Commission. The central bank handles general crypto matters, while the securities regulator regulates digital currencies classified as securities.

Yet their crypto regulations still lack transparency and consistency.

There have been calls from within the government to adopt a more progressive stance towards cryptocurrencies. In March 2022, Zahidi Zainul Abidin, the deputy minister of the Communications and Multimedia Ministry, suggested that Malaysia should adopt bitcoin and other cryptocurrencies as legal tender. “We hope the government can allow this,” Zahidi said in Parliament, according to Bloomberg.

Additionally, religious authorities in Malaysia, such as the Shariah Advisory Council of the Securities Commission, have recognized digital currencies as a form of property from an Islamic perspective, further legitimizing their use within the country’s predominantly Muslim society, according to a study published in the Journal of Fatwa and Falak Selangor.

Still Malaysia faces one major issue with crypto and that is illegal crypto mining. stimates from the Deputy Energy Minister put the cost of this illegal activity at roughly $723 million in stolen electricity between 2018 and 2023.

UAE Haifin offers blockchain trade finance solution in Bahrain with BENEFIT

UAE Haifin offers blockchain trade finance solution in Bahrain with BENEFIT

Bahrain based BENEFIT, aFintech and electronic financial transactions service, has partnered with haifin, an e& enterprise company (part of e&) formerly known as UAE Trade Connect offering Blockchain enabled trade financing platform,to revolutionize Bahrain’s banking sector by fostering innovation, and enhancing financial resilience across the industry.

With a proven track record in de-risking trade finance lending, haifin—live in UAE since 2021—has leveraged cutting-edge technologies such as blockchain and advanced analytics to prevent fraud in real-time, saving over $150 million for its consortium members.

As per the press release, the partnership is set to enhance the ability of Bahrain’s banking industry to mitigate risks and prevent fraud, particularly in trade finance. By improving risk management, the collaboration is expected to boost banks’ lending confidence, increase revenues, and improve access to liquidity for SMEs and corporate borrowers.

Abdulwahed AlJanahi, Chief Executive of BENEFIT, commented that this partnership marks a significant step in strengthening Bahrain’s financial ecosystem through advanced technology. He added, “By equipping banks with cutting-edge tools to proactively combat fraud and streamline trade finance, we are empowering the sector to operate with unparalleled efficiency and confidence. By uniting our expertise, we are reinforcing trust, security, and innovation at the heart of the industry’s future, setting the stage for a more resilient and digitally advanced banking landscape in Bahrain.”

Zul Javaid, Chief Executive of haifin, highlighted the importance of this partnership added, “After our success in the UAE and our ambition to address similar challenges across the MEA region this collaboration with BENEFIT marks a major milestone. Together, we aim to deliver advanced technology solutions that enhance risk management which ultimately drives growth for banks.”

The members of Haifin platform include UAE Banks Federation, Al Masraf, Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Commercial Bank International, Commercial Bank of Dubai, Dubai Islamic Bank, First Abu Dhabi Bank (FAB), Habib Bank AG Zurich, Invest Bank, Mashreq Corporate & Investment Banking Group, National Bank of Fujairah, RAKBANK, Sharjah Islamic Bank, United Arab Bank, Beehive Fintech, CredibleX, DP World, and Finneva.

Prior to the recent agreement with Bahrain’s BENEFIT, Zul Javaid expressed his interest in expanding Haifan offering to countries across the GCC and MENA regions, including KSA hiring Wissam Massud to lead their international expansion in 2023.

CoinMENA launches Bitcoin campaign in MENA

CoinMENA launches Bitcoin campaign in MENA

CoinMENA, a regulated crypto trading platform in the UAE and Bahrain, serving the MENA region, has launched an innovative crypto campaign “Your Future, Your Choice” Partnering with creative agency Bigsea, the campaign uses sharp satire to critique today’s harsh economic realities.
The crypto exchange‘s bold approach addresses two universal challenges: rising living costs and the struggle to grow savings. Through two short films, the campaign humorously highlights modern-day financial struggles with relatable scenarios and a touch of mobster menace.


The films utilize metaphors for painfully familiar scenarios. In the first film, a young man looking to pay his rent is strongarmed by mobsters into emptying his wallet, a situation many can relate to as rent prices rise year after year. In the second film, the same man tries to grow his savings, only to watch helplessly as a mobster clerk and his gang pocket his hard-earned cash, leaving
him with a single coin in “interest.” The scene cleverly reflects how difficult it is for the average person to grow their savings.


Enter Bitcoin, Enter CoinMENA


The campaign flips the script with a call to action: “Don’t get bullied by inflation” and “Don’t get bullied for wanting more.” Instead of settling for the status quo, CoinMENA positions Bitcoin as a reliable alternative, one that protects against inflation and serves as the best
savings vehicle in the digital era.


Founders Dina Sam’an and Talal Tabbaa highlight the bold vision behind the campaign, “We wanted to tell it like it is. Bitcoin is humanity’s first purposefully engineered money, designed to preserve and appreciate in value, unlike fiat money, which is designed to
depreciate and lose value continuously. It represents hope for everyone struggling with the rising cost of living, offering an alternative way to save your time and energy.”

Serge Asaad, CEO of Bigsea, explains the creative inspiration stating, “This campaign is about giving people a moment of realization, that the ‘old way’ is not working out for them. CoinMENA offers not just an alternative, but a real sense of control and optimism
for the future. That’s where the satire comes in: we wanted to make people laugh, then think, and ultimately act.”


CoinMENA’s films deliver a simple yet powerful message: when rising living costs and the struggle to save leave you feeling powerless, choose Bitcoin with CoinMENA and take back control. As the signoff powerfully states: “Your Future, Your Choice.”

Bahrain Ministry of Justice launches Blockchain notarization platform

Bahrain Ministry of Justice launches Blockchain notarization platform

Bahrain Ministry of Justice has announced the launch of its Blockchain remote visual notarization system in collaboration with the Information and eGovernment Authority (iGA).

As per the press release, the initiative aligns with Bahrain’s Economic Vision 2030, expanding the private sector’s role while the Ministry of Justice overseed licensed private notaries.

Nawaf bin Mohammed Al Maawda, Minister of Justice, Islamic Affairs, and Endowments, announced this stating, ” Private notaries will receive training from the Judicial and Legal Studies Institute, with access requiring electronic key authentication.” The minister urged users to register for government notifications via bahrain.bh, as registered details will be used for service access.

Al Maawda reaffirmed the ministry’s commitment to digital transformation, introducing the service gradually for specific transactions through a blockchain powered platform ensuring confidentiality, authenticity, and fraud prevention, including digital signature verification.

In the UAE as well in 2024, DIFC ( Dubai International Financial Center) and Swiss The Hashgraph Association also announced, a digital Notary Service, which will be the notarizing English documents only and is the first-of-its-kind service in the UAE. The service will provide three (3) options for users; an automated self-service; a live virtual system; and an in-person service. Users of the service will also have the option to utilize an authentication service through primary source verification (PSV).

Central Bank of Bahrain grants crypto trading license to Fasset

Central Bank of Bahrain grants crypto trading license to Fasset

The Central Bank of Bahrain (CBB) has granted a Category 3 license to Fasset Financial Services, a Crypto Asset Service Provider, to operate in Bahrain, allowing the company to provide crypto-asset trading services. Fasset joins the ranks of Binance, Crypto.com, CoinMENA, BitOasis and others in Bahrain who are now offering regulated crypto service activities. The total number of crypto VASP licensed in Bahrain is now eight.


Abdulla Haji Director – Licensing Directorate, CBB noted, “We are pleased to announce the issuance of a license to a new Crypto Asset Service Provider in the Kingdom of Bahrain, marking our continuous commitment to fostering a robust and progressive regulatory environment. This reflects CBB’s continued efforts to create a secure and transparent ecosystem for businesses and investors in the digital asset space, in addition to the increased appetite for crypto services regionally and globally. By maintaining high standards of compliance and innovation, we remain dedicated to strengthening Bahrain’s position as a regional leader in fintech.”

Mr. Mohamed Sabra, General Manager and Board Member at Fasset Financial Services W.L.L., said that, “We are honored to receive this license from the Central Bank of Bahrain, marking a significant milestone in our mission to democratize access to digital assets in the region. This approval underscores Bahrain’s progressive stance towards fintech innovation and reinforces our commitment to providing secure and compliant digital asset products. We look forward to contributing to the Kingdom’s dynamic digital economy and supporting its vision for continued leadership in financial innovation.”

Fasset has also received a VASP crypto broker license in the UAE from Dubai’s regulatory VARA back in November 2023. Since then it has launched its application in the UAE as well as embarked on a gold tokenization product.

AI decentralized network Allora and stc Bahrain to advance AI

AI decentralized network Allora and stc Bahrain to advance AI

Allora Network, an AI decentralized network has collaborated with stc Bahrain, a world-class digital enabler, through its Web3 Launchpad Program under the Pearling Path initiative.

As per the blog, the collaboration highlights Allora’s commitment to partnering with leading innovators like stc Bahrain to advance decentralized AI, fostering innovation and growth across the GCC region and beyond.

As part of this collaboration, stc Bahrain will join the Allora Network as a validator node, contributing to the network’s security, reliability, and consensus. By joining the Allora Network as a validator node, stc Bahrain takes on a critical role in bolstering network security and maintaining consensus. This collaboration reflects stc Bahrain’s commitment to harnessing the transformative capabilities of decentralized AI, powered by Allora’s advancements in crowdsourced intelligence, reinforcement learning, and regret minimization.

Allora powers innovative, secure, and decentralized applications, driving cutting-edge protocols and unlocking new use cases for advanced solutions.

Mr. Saad Odeh, Chief Wholesale Officer at stc Bahrain, commented, “At stc Bahrain, we are dedicated to embracing emerging technologies that redefine industries and contribute to Bahrain’s Vision 2030 goals. Allora Network’s cutting-edge AI capabilities are a valuable addition to our Web3 Launchpad Program, further cementing Bahrain’s position as a hub for innovation and digital transformation.”

Nick Emmons, Co-Founder and CEO of Allora Labs, added, “We are thrilled to partner with stc Bahrain under the Web3 Launchpad Program. Their role as a validator node directly strengthens the security, consensus, and reliability of the Allora Network, which is essential for fostering trust and driving growth in decentralized infrastructure. Together, we strive to advance blockchain technology and explore AI innovations within and beyond telecommunications.”

Allora blog notes, “As the Web3 and AI ecosystems continue to expand, our collaboration with stc Bahrain strengthens the foundation for a robust, innovative, and decentralized digital economy. By working together to foster a collaborative environment for emerging technologies, we are proud to contribute to Bahrain’s Vision 2030 program, advancing progress toward a more innovative and sustainable future.”

Telecom operator stc Bahrain partners with ZetaChain blockchain

Telecom operator stc Bahrain partners with ZetaChain blockchain

stc Bahrain, Bahrain telecom operator and digital service provider has partnered with ZetaChain, the first Universal Blockchain, as part of its Web3 Launchpad Program under the Pearling Path initiative.

As per the press release, this collaboration underscores stc Bahrain’s commitment to advancing cutting-edge technologies and driving blockchain innovation across the Middle East and beyond.

ZetaChain’s Universal Blockchain provides native access to all major blockchains, including native Bitcoin, enabling developers to create Universal Apps that seamlessly operate across these ecosystems from one unified interface. Its design eliminates the need for bridges or middleware, offering a secure, scalable, and simple framework for cross-chain applications.

As part of this collaboration, stc Bahrain will operate a validator on ZetaChain’s mainnet. This moves the network’s security and scalability while enabling developers to build and deploy Universal Apps, natively accessible from all major blockchains, including the Bitcoin network.

“This partnership with ZetaChain represents a major step forward in enabling secure access to fully interoperable Web3 applications,” said Saad Odeh, Chief Wholesale Officer at stc Bahrain. “ZetaChain’s Universal Blockchain simplifies the Web3 user experience across all chains, including Bitcoin, while aligning with our commitment to advancing blockchain technology in the region.”

“stc Bahrain’s leadership in telecom and its award-winning Web3 Launchpad program makes them an ideal partner for ZetaChain,” said Jonathan Covey, Core Contributor at ZetaChain. “Their role as a validator will strengthen our ecosystem in the Middle East and unlock new Universal Apps that operate natively across Bitcoin and any blockchain from a single platform.”

This partnership affirms the company’s commitment to creating an interoperable and accessible Web3 ecosystem and bringing unique blockchain solutions and new technologies to the region, in alignment with Bahrain’s Vision 2030. With ZetaChain’s growing ecosystem including over 4 million unique wallets, 154 million transactions, and 300+ dApp integrations, stc Bahrain is enabling developers and enterprises to deliver seamless cross-chain functionality, advancing the adoption of blockchain technologies across the Middle East and beyond.

In August of Stc Bahrain announced the launch of “Intersect the Network” on Avalanche Blockchain. The initiative aimed to advance Web3 innovation, promote digital transformation for decentralized applications (dapps). In April 2024, stc Bahrain announced its partnership with Avalanche Blockchain to build Web3 in the MENA region.

Earlier the telecom operator placed operating nodes on Core Chain Bitcoin Layer 1 blockchain. Stc Bahrain also partnered with Core Chain DAO as part of its Web3 launchpad initiative.

Crypto.com presents Bahrain’s Crown Prince and Prime Minister with new crypto Mastercard prototype

Crypto.com presents Bahrain’s Crown Prince and Prime Minister with new crypto Mastercard prototype

Bahrain’s Crown Prince and Prime Minister, His Royal Highness Prince Salman bin Hamad Al Khalifa, has met with the President and Chief Operating Officer of Crypto.com, Eric Anziani, at Gudaibiya Palace where he presented His Royal Highness with the company’s new Mastercard prototype and is regarded as the first of its kind in the Middle East.

Crypto.com which recently secured a crypto payment service provider license in Bahrain partnered with Mastercard to directly issue cards on Mastercard’s network. It is a principal license that allows Crypto.com to launch a card in Bahrain powered by Mastercard. The new program will leverage Mastercard’s trusted, scalable and secure payments network to enable the crypto exchange customers to use their card at over 150 million in-store and online locations worldwide. Users can easily fund their cards through the Crypto.com app using e-money wallets or third party-issued credit and debit cards.

The innovative payment product will be available across all five Crypto.com card tiers, including Black Obsidian, offering rewards up to 8% on spending and will be denominated in USD.

During the meeting, HRH Prince Salman bin Hamad emphasized the Kingdom’s commitment to advancing the financial services and digital technology sectors, both of which are priorities that contribute to supporting the Kingdom’s comprehensive development under the leadership of His Majesty King Hamad bin Isa Al Khalifa.

HRH the Crown Prince and Prime Minister highlighted the significance of digital transformation in driving progress across key economic sectors to realise the Kingdom’s aspirations. He also reaffirmed the Kingdom of Bahrain’s commitment to attracting international companies across promising sectors, strengthening its regional and international position, and expanding growth across various industries.

Crypto.com President, Anziani concluded by expressing his gratitude for the opportunity to meet His Royal Highness and extended his wishes for the Kingdom of Bahrain’s continued progress and prosperity.

The Minister of Finance and National Economy, HE Shaikh Salman bin Khalifa Al Khalifa, and the Governor of Central Bank of Bahrain (CBB), HE Khalid Ebrahim Humaidan, also attended the meeting.