Thanks to Binance Pay and EazyPay, Bahrainis can now use cryptocurrency to pay for their goods. Eazy Financial Services (EazyPay), a Bahraini financial institution regulated by the Central Bank of Bahrain (CBB), has collaborated with Binance Pay to allow crypto payments in the country.
According to the LinkedIn post shared by EazyPay CEO and founder Nayef Tawfiq Al Alawi, customers will be able to use cryptocurrency for their payments in more than 5,000 point-of-sale (POS) terminals and Online Payment gateways.
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The EazyPay CEO highlighted that popular local merchants, such as Lulu Hypermarket, Al Zain Jewelry, Sharaf DG, and Jasmi’s will now accept more than 70 cryptocurrencies using Binance Pay.
The users who want to pay using cryptocurrency can scan the generated QR code “from Eazy’s POS using their Binance App and pay with preferred cryptocurrency.”
When talking about the collaboration, Binance Middle East and North Africa Head of Business Development Nadeem Ladki noted:
As a leader in its space, EazyPay’s decision to accept cryptocurrency payments and integrate Binance Pay into its systems raises the bar for innovation and demonstrates the way forward when it comes to the payment industry as we transition into the Web3 economy.
Binance’s CEO and founder Changpeng Zhao used Twitter to share the news, stating that EazyPay crypto payment feature is “the first regulated & approved crypto payments service offering in MENA.” It is worth noting that, in March, Binance received regulatory approval from the Central Bank of Bahrain (CBB) to provide crypto services, such as custody, trading, and portfolio management. by Gile K. – Crypto Analyst, BitDegree