Bahrain SGB bank appoints ex U.S. Federal Reserve Vice chairman

Bahrain SGB bank appoints ex U.S. Federal Reserve Vice chairman

Bahrain based Singapore Gulf Bank, a fully licensed digital bank in MENA with permission to integrate customers from across the world digitally and to serve crypto clients, has appointed the former U.S. Federal Reserve vice chair Randal Quaties as vice chairman of its newly-formed global advisory board. The new appointment aims to support the international growth.

Singapore Gulf Bank, which is backed by Whampoa Group and Bahrain’s sovereign wealth fund Mumtalakat, noted that the global advisory board would be chaired by Whampoa Group’s founder Amy Lee. Other board members include co-founder of China’s largest online travel agency Ctrip Fan Min, founding CEO of Boyu Capital Louis Cheung and Beyon Digital’s CEO Shaikh Mohamed Khalifa Al Khalifa.

Matrixport’s chairman Wu Jihan and Jiangsu General Chamber of Commerce’s president Fan Yurong are also members. Matrixport offers a comprehensive suite of innovative and easy-to-use crypto investment products and financial services tailored for all levels of expertise.

In April 2025, Singapore Gulf Bank (SGB) launched its personal banking services, and will enable instant movement between crypto and fiat via top licensed exchanges with instant off and on ramping. Earlier in 2024 Singapore Gulf Bank was in talks with a Middle East sovereign wealth fund to raise $50 million to acquire a stablecoin payments company in 2025 either in the Middle East or Europe.

The bank already offers digital asset/crypto custody services.

Daleel financial marketplace to integrate Binance Bahrain crypto products

Daleel financial marketplace to integrate Binance Bahrain crypto products

Daleel, a Middle East leading personalized financial marketplace will integrate and showcase cryptocurrency products from Binance Bharain. Through the Binance Link Program, Daleel will be able to access the top 10 crypto trading pairs from the largest and most liquid crypto exchange.

As per the press release, Daleel will become the first financial marketplace in the Middle East to present and compare information on cryptocurrency products alongside traditional financial services such as credit cards, loans and mortgages.

Users of Daleel’s platform will benefit from greater choice, the ability to seamlessly explore and access a wider range of financial products, while bridging the gap between traditional banking and digital assets.

Tameem Al Moosawi, Binance Bahrain GM, commented, “Cryptocurrency is being embraced around the world and providing access and visibility to crypto within a marketplace alongside traditional financial services will further legitimize crypto as an asset class. By adding cryptocurrency into everyday financial decision-making, we’re not just offering more choice, we’re defining what the future of finance looks like for millions of customers across the Middle East.”

PK Shrivastava, CEO at Daleel said, “We’re proud to be the first Middle East marketplace to offer crypto pricing from Binance, the largest crypto exchange. Through Daleel, customers in the Middle East will be able to access transparent information about cryptocurrency right alongside more traditional financial products.”

Daleel is a marketplace registered and licensed in the UAE and Bahrain and provides services in accordance with local regulations.

stc Bahrain collaborates with a new blockchain network, Conflux

stc Bahrain collaborates with a new blockchain network, Conflux

Conflux Network, a Layer 1 Blockchain network and stc Bahrain, a telecom operator anddigital enabler in the Middle East have collaborated in stc Bahrain’s Web3 Launchpad Program, specifically within the Pearling Path initiative, which aims to support emerging Web3 protocols as they expand in the Middle East.

Through this collaboration, stc Bahrain joins Conflux as a validator on the Conflux Network which will reinforce the security and efficiency of its consensus mechanism.

“This partnership with Conflux Network represents another step forward in our mission to position Bahrain as a hub for emerging technologies,” said Saad Odeh, Chief Wholesale Officer at stc Bahrain. “By operating a validator and supporting Conflux’s advanced blockchain infrastructure, we are empowering developers and enterprises to build transformative solutions, aligning with Bahrain’s Vision 2030.”

“We are thrilled to partner with stc Bahrain as a Pearling Path Partner under the Web3 Launchpad Program,” said Christian Oertel, Global Expansion Lead at Conflux Network. “Bahrain’s strategic location as a gateway between the Middle East and Asia creates a unique opportunity to drive blockchain innovation and connect decentralized economies across these regions. Together with stc Bahrain, we aim to build a secure and scalable foundation for decentralized applications.”

stc Bahrain has partnered with several blockchain networks over the past few years. Earlier this year decentralized privacy-focused network Nillion partnered with stc Bahrain as well as with Nirvana Labs.

Kratos decentralized gamer network launches regional headquarters in Bahrain

Kratos decentralized gamer network launches regional headquarters in Bahrain

Kratos Gamer Network (KGeN), a global Blockchain and AI decentralized gamer network, has launched its Middle East and North Africa (MENA) regional headquarters (HQ) in Bahrain. With over 21 million global gamers, KGeN begins on-ground operations in the MENA region to cater to the growing gaming market, which continues to experience unprecedented growth.

KGeN MENA headquarters introduces the universal gamer reputation framework, enabling gamers in the region to claim their legacy through the globally accepted “Proof of Gamer” system and to join the KGeN gamer network. KGeN’s Bahrain HQ is set to serve as a bridge between gaming communities in MENA and global game publishers seeking to engage with the passion of the gaming community in the region.

KGeN’s MENA headquarters in Bahrain also aims to drive innovation and growth in the rapidly evolving gaming and gamification ecosystem in the region via its blockchain-based user identity, reputation and loyalty framework to consumer-facing regional publishers who are looking at engaging their consumers via cutting-edge gamified and immersive offerings.

Manish Agarwal, Co-Founder of KGeN, highlighted that Bahrain’s progressive digital infrastructure and supportive business environment make it an ideal location for KGeN’s regional expansion. He emphasised that KGeN are excited to contribute to the region’s thriving gaming industry by providing top-tier technology solutions, partnerships, and expertise.

KGeN’s expansion aligns with its vision to empower consumer enterprises through AI-driven and blockchain-enabled gamification offerings. By leveraging Bahrain’s advanced ICT sector, KGeN aims to tap into emerging opportunities and collaborate with local and international consumer-facing entities.

Ali Al Mudaifa, Chief of Business Development at the Bahrain Economic Development Board (Bahrain EDB), emphasised that the strategic decision to establish their regional headquarters in Bahrain is a strong testament to the Kingdom’s dynamic and rapidly evolving tech ecosystem, which continues to attract a diverse range of innovative companies. He noted that it also highlights Bahrain’s growing reputation as a destination of choice for companies seeking access to skilled digital talent and world-class infrastructure.

Al Mudaifa noted that this milestone further strengthens Bahrain EDB’s commitment to supporting the development of the MENA region’s gaming industry, which is projected to reach a market value of USD 2.8 billion by 2026.

Binance payment service company BPay receives license in Bahrain

Binance payment service company BPay receives license in Bahrain

The Central Bank of Bahrain (CBB) has granted BPay Global B.S.C.(c) (BPay Global), a Binance Group payment services company, a Payment Service Provider (PSP) license to operate in the Kingdom of Bahrain. Binance customers will be able to top up and withdraw on an e-wallet fiat currency, as well as custody their fiat and crypto and make payments.

As per the press release, the PSP license will allow BPAY to offer fiat services to Binance customers globally, including fiat top ups and withdrawals, custody and other payment services. This will enable Binance customers to open an e-wallet and make fiat top ups on the Binance platform through bank transfers and debit/credit card payments. The license will also allow BPay Global to custody fiat on behalf of customers.

Commenting on this announcement, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new payment service provider in Bahrain. This license represents a positive step in enhancing Bahrain’s digital payments ecosystem, particularly in its support for crypto-related sector as well as fiat payment solutions. The CBB remains committed to enabling a dynamic and progressive payment landscape that aligns with global advancements in financial technology.”

Mr. Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, commented: “We are glad to announce the launch of BPay Global and the first Payment Service Provider license received by a Binance company, allowing it to act as a payment service provider and e-wallet provider for users around the world. With this license, BPay Global will provide Binance users with further choice of low-cost fiat on- and off-ramps.”

Binance had previously received a license from the Central Bank of Bahrain back in 2023 and was able to offer crypto payments through Binance Pay.

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.”