Crypto.com and Bahrain based BENEFIT, a FinTech and electronic financial transactions services have signed an MOU ( Memorandum of Understanding) which aims at discussing combining their expertise and help expand the digital assets and fintech ecosystem in Bahrain including areas such as payment integration and prepaid card capabilities.

The companies signed an MOU at the Fintech Forward event in Bahrain on October 3, 2024.

“BENEFIT’s innovative work to develop the electronic payments space in Bahrain is impressive and we’re excited at the prospect of partnering with a company that is forward-thinking and eager to support the growth of the digital assets industry,” said Eric Anziani, President and COO of Crypto.com. “Bahrain has created an innovation friendly environment and we’re looking forward to expanding our services here.”

“We are pleased to explore this collaboration with Crypto.com as it aligns with our mission to continuously drive innovation in Bahrain’s financial services sector,” said Abdulwahed AlJanahi, Chief Executive of BENEFIT. “By leveraging our expertise in electronic financial transactions and Crypto.com’s cutting-edge capabilities in the realm of cryptocurrency, we are confident this partnership can bring added value to Bahrain’s evolving fintech landscape and support the growth of digital assets in the Kingdom.”

This comes after Crypto.com Crypto.com, the 13th largest global crypto exchange according to CoinMarketCap, received a crypto payment service provider license from the Central Bank of Bahrain allowing it to offer e-money and fiat based payment services regionally, including prepaid cards.