Crypto.com Obtains Payment Service License from Central Bank of Bahrain

Crypto.com Obtains Payment Service License from Central Bank of Bahrain

Crypto.com has announced that it has received a Payment Service Provider (PSP) license from the Central Bank of Bahrain (CBB), making it the first major cryptocurrency platform to obtain such a license in the region. This move represents a significant step forward for Crypto.com, as it will allow the company to offer a broader range of services to its customers in Bahrain, including the ability to buy, sell, and store cryptocurrencies. The PSP license from the CBB adds to Crypto.com's growing list of regulatory approvals worldwide. The company already holds licenses in several other jurisdictions, including the United States, the United Kingdom, and Singapore. Crypto.com's CEO, Kris Marszalek, said that the company is committed to working with regulators around the world to ensure that it operates in a safe and compliant manner. He added that the PSP license from the CBB is a testament to the company's commitment to the region and its customers. The CBB's decision to grant Crypto.com a PSP license is a strong signal that the Bahraini government is supportive of the development of the cryptocurrency industry. It is hoped that this move will encourage other cryptocurrency companies to set up operations in Bahrain and contribute to the growth of the local economy.