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.

Serenity and MTA to launch blockchain real estate investment portal in UAE

Serenity and MTA to launch blockchain real estate investment portal in UAE

Serenity, a blockchain technology company specializing in secure digital finance solutions, has partnered with MTA Real Estate to develop a secure, blockchain-powered real estate investment portal targeting allowing for crypto to property purchases.

As per the press release, the initiative arrives amid growing momentum for real estate tokenization in the UAE. With growing institutional interest and clear regulatory support for blockchain-based asset infrastructure, the Dubai Land Department expects the market value for tokenized real estate to exceed $16 billion by 2033.

The portal, to be rolled out in phases, will allow qualified crypto users to explore select Dubai real estate listings, complete biometric-based KYC, and execute regulated crypto-to-property purchases through smart contracts. Also crypto buyers who purchase properties using this portal will be eligible for exclusive discounts, which brings in a valid commercial value proposition.

Serenity and MTA’s expertise will bring to market a full-technology stack serving as a blockchain window into property sourcing, transaction facilitation, and compliance with local real-estate regulations. 

“This partnership allows us to extend blockchain’s utility into tangible ‘real-world services’,” said Robert Boris Mofrad, Co-founder and Chief Product Officer of Serenity. “Dubai is already setting the pace on real estate tokenization – our goal is to operationalize that vision with compliant infrastructure that bridges Web3 and real-world ownership.”

Venket Naga, CEO of Serenity commented, “This agreement brings our ‘real-world services’ vision closer to reality,” said Venket Naga, Co-Founder and CEO of Serenity. “It’s about turning blockchain infrastructure into sustained, revenue-generating use cases – not just for Serenity, but for the entire Web3 ecosystem engaging with real-world assets.”

The platform’s KYC layer, built on Serenity’s decentralized identity protocol, will be integrated with the company’s sAxess biometric card, the world’s first fingerprint-authenticated blockchain multi function cold wallet card. Payments will be conducted through licensed intermediaries or accepted directly by developers that support crypto transactions. Off-plan purchases will be protected under the Dubai Land Department’s escrow framework, ensuring milestone-based fund releases and buyer safeguards.

At MTA Real Estate, we specialize in unlocking high-growth opportunities in Dubai’s real estate market – one of the most secure and lucrative in the world,” said Mohamed Taher Ali, Founder & CEO of MTA Real Estate. “This collaboration empowers crypto investors to diversify their portfolios with stable, income-generating assets backed by full regulatory transparency. Our goal is simple: bridge the gap between digital wealth and real-world property ownership through innovation, speed, and trust.

Serenity’s roadmap for the portal includes smart contracts for automated rent distribution, on-chain storage of ownership records with survivability and inheritance mechanisms, and future integration of DeFi-based mortgage tools. 

Mesh launches crypto payment app on Shopify Store

Mesh launches crypto payment app on Shopify Store

Mesh, a global crypto payments network, has launched a crypto payments app on the Shopify App Store, enabling millions of Shopify merchants to seamlessly accept crypto payments and settle transactions in stablecoins like USDC, USDT, and PYUSD.

The company also partnered with UAE regulated CoinMENA, crypto broker in 2024 to make it easier to trade crypto assets, without the hassle of entering long crypto addresses, QR codes or seed phrases.

Mesh’s crypto payments app allows merchants to tap into the rapidly growing digital asset economy while eliminating volatility concerns. Whether customers pay using Bitcoin, Ethereum, or Solana, they can simply connect their exchange accounts or wallets to Shopify, while merchants receive stable assets.

“This milestone represents another step forward in our mission to enable frictionless, borderless commerce powered by digital assets,” said Bam Azizi, CEO and Co-Founder of Mesh. “With global stablecoin usage soaring and crypto payments becoming more mainstream, we’re making it easier than ever for merchants to participate in this growing economy.”

PawCo Foods, pioneers in premium, healthy dog nutrition, is among the company’s first launch partners. Their Shopify store is already offering crypto payments through Mesh, making it easier for pet parents to provide their pups with healthy, delicious meals.

“We’re excited to be among the first to integrate Mesh’s crypto payments solution,” said Dr. Mahsa Vazin, CEO and Founder of PawCo. “As innovators in pet nutrition, we’re always looking for ways to enhance our customers’ experience. Offering crypto payment options aligns with our forward-thinking approach and makes it easier for dog parents everywhere to access our products.”

Mesh’s direct integration with Shopify brings its patent-pending SmartFunding technology to millions of merchants worldwide through the new app. This ensures that while customers pay with any crypto they hold, merchants receive stable assets without volatility concerns. The result is a frictionless experience with no extra steps or manual conversions – just instant, secure, and efficient transactions.


Ripple to offer crypto payments in UAE after receiving license

Ripple to offer crypto payments in UAE after receiving license

Ripple, which offers enterprise blockchain and crypto solutions can now offer crypto payment services in the UAE after receiving its license from the Dubai Financial Services Authority (DFSA) in the Dubai International Financial Centre (DIFC). Ripple will be the first blockchain-enabled payments provider licensed by the DFSA.

This is the first license for Ripple in MENA allowing it to offer seamless compliant crypto payments in UAE to financial institutions who want to utilize digital assets.

“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, Chief Executive Officer of Ripple. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

According to a 2024 business survey carried out by Ripple, 64% of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest value proposition for incorporating blockchain-based currencies into their cross-border payments business.

His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority commented, ”We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC. This milestone not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond. As the Middle East, Africa and South Asia’s leading global financial centre, DIFC is proud to support forward-thinking companies like Ripple as they shape the future of finance and accelerate the adoption of blockchain technology in the payments industry.”

Since establishing its Middle East headquarters in DIFC in 2020, Ripple has continued to deepen its presence in the region. With around 20% of its global customer base already operating in the Middle East, this latest regulatory approval positions Ripple to further accelerate growth and innovation in a high-potential market. The MEA region has one of highest levels of institutional readiness when it comes to crypto adoption, with over 82% of MEA finance leaders stating they are “very or extremely confident” when it comes to integrating blockchain solutions into their business.

Reece Merrick, Ripple’s Managing Director for Middle East and Africa. “Securing this DFSA license is a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs. We’re grateful for the support of our partners at DIFC, and we’re ready to hit the ground running with a growing local team and strong customer pipeline.”

Ripple’s DFSA license adds to its growing list of over 60 regulatory approvals worldwide.

Prior to this license Ripple had partnered with the DIFC Innovation Hub to accelerate blockchain and digital assets innovation in the UAE, while in 2023 its token XRP was one of two new crypto tokens to join Bitcoin (BTC), Ethereum, and Litecoin as recognized crypto tokens by the Dubai Financial Services Authority (DFSA).

Aquanow and Hubpay partner for crypto convergence payments in UAE

Aquanow and Hubpay partner for crypto convergence payments in UAE

Hubpay, a UAE cross-border payments platform, has partnered with UAE regulated Aquanow, a global digital asset infrastructure provider, to introduce the UAE’s first fully regulated crypto payments facility tailored for businesses and SMEs. This collaboration will allow businesses across various sectors – including real estate, manufacturing, and general trading to accept cryptocurrency payments securely and seamlessly alongside traditional fiat transactions.

Aquanow ME regulated by Dubai’s Virtual Asset Regulatory Authority (“VARA”), and Hubpay also regulated by the Financial Service Regulatory Authority (“FSRA”), in the Abu Dhabi Global Market (“ADGM”) will lpartner Hubpay’s platform powered by Aquanow can offer regulated crypto payments for UAE businesses globally.

By integrating Aquanow’s digital asset infrastructure with Hubpay’s regulated payment network, both local and global users can seamlessly transact in cryptocurrencies within a familiar payments environment.

Speaking to Lara on the Block, spokesperson for HubPay explained, ” Crypto can be exchanged to fiat via Over the counter crypto exchanges or migrated to respective crypto wallets and transferred into USDT or fiat. This integration adds crypto as a payment mode, like credit card, debit card under VARA stipulated regulations via tradfi payment interface.”

Speaking on the partnership, Kevin Kilty, CEO and Founder of Hubpay stated “We are thrilled to partner with Aquanow to launch the UAE’s first fully regulated crypto payment gateway for businesses. Stablecoins are a game-changer, combining the security of traditional currencies with the speed of digital assets. By integrating Aquanow’s infrastructure with our regulated network, we’re empowering businesses to transact seamlessly in both fiat and crypto—advancing the UAE’s agenda to drive economic diversification, foster fintech innovation, and position itself as a global hub for digital assets.”

“We’re excited to collaborate with Hubpay to bring real-world utility to digital assets in the MENA region,” said Phil Sham, CEO of Aquanow. “Cryptocurrency is no longer just an investment tool. It’s a practical, efficient means of conducting high-value transactions. By integrating our technology with Hubpay’s regulated payments framework, we are removing friction from large-scale transactions for buyers, sellers, and investors alike.”

Both partners believe that real estate and SME sector will benefit the most from this partnership.

Arab Financial Services and Ternoa also to offer crypto payments in UAE

The Aquanow Hubpay announcement comes days after Arab Financial Services (AFS), regulated by the Central Bank of Bahrain and Egypt, also holding a retail payment license in the UAE partnered with Ternoa Blockchain to launch stablecoin and crypto payments across POS ( Point of Service) counters for UAE merchants.

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.

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.

Crypto.com and MasterCard partner to issue cards in Bahrain

Crypto.com and MasterCard partner to issue cards in Bahrain

Crypto.com which recently secured a crypto payment service provider license in Bahrain has now 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.

As per the press release, 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.

“We’re really proud to be partnering with Mastercard, a global technology leader in the payments industry, and utilising our recently issued Payment Service Provider licence from the Central Bank of Bahrain to launch our world-renowned prepaid card to our users in Bahrain and beyond,” said Karl Mohan, General Manager APAC & MEA of Crypto.com. “Mastercard has shown its support for the digital assets industry by creating a robust card programme service that’s specifically tailored for our customers, allowing us to expand our product offering into new markets whilst proving our continued commitment to the highest levels of security and compliance.”

“We are delighted to welcome Crypto.com as a Mastercard Principal Member. The programme provides a wide range of benefits and opportunities beyond the direct issuance of Mastercards. Crypto.com will now have access to our global network, enabling transactions wherever Mastercard is accepted, our innovative payment solutions powered by cutting-edge technology, and our comprehensive tools for enhancing transaction security and fraud protection,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

According to Eric Anziani, President and Chief Operating Officer at Crypto.com on LinkedIn, “We launched our first card in Bahrain, with plans to expand to other eligible GCC markets soon!”

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

The crypto exchange even partnered with Bahrain based Beyon Monay, to enhance transaction solutions and explore innovative opportunities in digital payments and AI.

Bahrain Beyon Money partners with Crypto.com for digital payments and AI

Bahrain Beyon Money partners with Crypto.com for digital payments and AI

Bahrain based Beyon Monay, and Crypto.com have partnered to enhance transaction solutions and explore innovative opportunities in digital payments and AI.

As per the press release, the companies will explore collaborations in the transaction and payments sectors, as well as pursue joint innovation in artificial intelligence and open banking.

The partnership will leverage Beyon Money’s role as a financial super-app and payment platform, along with Crypto.com’s established retail products. The aim is to improve the overall experience for customers through enhanced services.

“As we continue to expand our presence in Bahrain, we are excited to investigate ways we can partner with Beyon Money, who are really leading the way in the digital payments space in the Kingdom,” said Eric Anziani, President and COO of Crypto.com.

“Beyon Money has an exciting product structure and reach in Bahrain, with a solid reputation and strong user base and by working together we hope to grow both of our brand’s innovative product range and services we provide to our Bahrain customers.”

“Beyon Money is committed to forging partnerships with leading global players,” states Roberto Mancone, CEO of Beyon Money. “Our collaboration with Crypto.com, which has recently obtained its Payment Service Provider license in Bahrain, will focus on co-marketing and promoting our respective cards. We will also work on integrating our platforms to streamline cryptocurrency purchases on the Crypto.com app, along with other projects that explore innovative technologies creating value through tangible use cases for our clients.

Previously, Crypto.com and Bahrain based BENEFIT, a FinTech and electronic financial transactions services 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.

In September 2024, Crypto.com 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.

Crypto.com had already received a crypto exchange license from Dubai’s virtual asset regulator in UAE, and considers this license as part of its expansion plans in the GCC region.

Crypto.com and Bahrain BENEFIT explore digital asset payment integration

Crypto.com and Bahrain BENEFIT explore digital asset payment integration

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.