Hassan Maishera
Leading cryptocurrency exchange Crypto.com has partnered with BENEFIT, the leading company in FinTech and electronic financial transactions services in Bahrain.
Crypto.com revealed that the two entities have started discussions on combining their expertise and help expand the digital assets and fintech ecosystem in Bahrain. They signed an MOU at the Fintech Forward event in Bahrain on October 3, 2024, committing to investigate mutual collaboration leveraging BENEFIT’s knowledge-base as Bahrain’s electronic network for financial transactions, alongside Crypto.com’s core capabilities as one of the world’s leading crypto trading platforms.
The partnership will include areas like payment integration and Crypto.com’s prepaid card capabilities. While commenting on this latest partnership, Eric Anziani, President and COO of Crypto.com, said,
“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. Bahrain has created an innovation-friendly environment, and we’re looking forward to expanding our services here.”
Abdulwahed AlJanahi, Chief Executive of BENEFIT added that,
“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. 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 latest development comes after the crypto exchange’s Bahrain entity recently received a Payment Service Provider Licence from the Central Bank. Crypto.com also recently became a virtual asset service provider in Ireland, allowing it to offer crypto-to-fiat exchanges and fiat wallets to its users in the EU.
Founded in 2016, Crypto.com is trusted by more than 100 million customers worldwide and is the industry leader in regulatory compliance, security, and privacy. The exchange’s vision is simple: Cryptocurrency in Every Wallet. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation.
Meanwhile, BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom’s financial services industry. BENEFIT is owned by Banks in Bahrain, regulated by the CBB, to provide innovative Payment Capabilities, Information Management Solutions, and Business Process Outsourcing Services across different sectors in the Kingdom of Bahrain and the Region.
