BPay Global, a subsidiary of Binance, secured a Payment Service Provider license from the Central Bank of Bahrain, as confirmed in an announcement on April 9.

The license allows Binance to expand its fiat services through BPay Global, operating as a regulated entity in Bahrain.

BPay Global is authorized to provide fiat top-ups, withdrawals, custodial services, and e-wallet functions.

Binance users can now conduct fiat transactions through bank transfers and debit or credit cards directly on the platform.

The Central Bank of Bahrain (CBB) has granted a payment service provider license to BPay Global, a subsidiary of Binance, to operate in the Kingdom of Bahrain. The PSP license will allow the company to provide fiat services to Binance customers worldwide, including fiat deposits…

— Wu Blockchain (@WuBlockchain) April 10, 2025

“This license represents a positive step in enhancing Bahrain’s digital payments ecosystem, particularly in its support for the crypto-related sector as well as fiat payment solutions,” said Abdulla Haji, Director of the CBB’s Licensing Directorate.

Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, said this marks the first time a Binance entity has been licensed to act as a full-fledged payment service provider.

“With this license, BPay Global will provide Binance users with further choice of low-cost fiat on-and off-ramps,” Almoosawi said.

Bahrain’s Crypto Strategy: From Bitcoin Products to BPay Licensing

BPay’s entry into the Bahraini market strengthens Binance’s regulated service offerings in the Gulf region.

The approval of BPay Global’s PSP license adds to Bahrain’s broader push for regulatory clarity in digital finance.

The Kingdom has moved quickly to establish itself as a digital finance hub in the MENA region.

According to a report from October 2024, the National Bank of Bahrain (NBB) launched the region’s first Bitcoin-linked structured investment product.

@NBBOnline has introduced Bitcoin investment product, which will be available “exclusively for accredited investors.”#Bitcoin #NBB #InvestmentFundhttps://t.co/NlKyXMPaBj

— Cryptonews.com (@cryptonews) October 8, 2024

This product, developed in collaboration with ARP Digital—co-founded by a former Goldman Sachs partner—offers accredited investors exposure to Bitcoin’s potential gains, with a capped upside and full capital protection on the downside.

In April 2024, ARP Digital also received an operational license from the NBB, allowing it to expand its crypto custody, trading, and portfolio management services.

Just prior to this, Crypto.com was also granted a PSP license in Bahrain, adding to the country’s expanding ecosystem of regulated crypto entities.

Between July 2023 and June 2024, Chainalysis data showed that the MENA region accounted for 7.5% of global crypto transaction volume.

Bahrain’s proactive regulatory approach has made it a base of operations for several cryptocurrency firms.

Crypto Licensing Trends Across Global Markets

Bahrain’s stance on crypto licensing mirrors a broader international trend, as regulators in Europe and beyond begin to formalize oversight of digital asset platforms.

On February 18, OKX announced that it had secured passporting rights under the European Union’s Markets in Crypto-Assets (MiCA) framework.

@okx secures MiCA licensing, unlocking passporting rights across 28 EEA nations. Users benefit from a compliant crypto platform, seamless Euro transactions, and expanded trading options.#CryptoRegulations #MiCA #CryptoEuropehttps://t.co/p3OujF5d0V

— Cryptonews.com (@cryptonews) February 18, 2025

From its Malta headquarters, OKX is now legally authorized to provide services across all 28 European Economic Area (EEA) states.

This includes spot and bot trading, OTC infrastructure, and over 300 trading pairs.

Users in countries such as Germany, France, Italy, and Sweden now have access to localized platforms, Euro-denominated trading pairs, free bank transfers, and local-language customer support.

Kraken also recently secured an Electronic Money Institution (EMI) license from the UK Financial Conduct Authority.

This allows the exchange to issue electronic money and improve deposit and withdrawal services for users in the UK.

@krakenfx has received an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA).#Kraken #UKhttps://t.co/xTOqpCUZfu

— Cryptonews.com (@cryptonews) March 11, 2025

Crypto adoption in the UK has reached 12% of the adult population.

Kraken’s licensing, along with its recent approval under the EU’s MiFID framework, enables the exchange to offer regulated derivatives trading across Europe.

BPay Global’s licensing, along with similar developments across Europe, reflects the growing effort to integrate crypto services into established financial frameworks.

The post Binance Subsidiary BPay Global Secures Payment License from Central Bank of Bahrain appeared first on Cryptonews.

The G7 tariff talks have taken a rather dramatic turn recently as member nations met without US participation. Italy’s Economy Minister Giorgetti actually confirmed that G7 countries, excluding the United States, have been actively discussing potential responses to President Trump’s sweeping tariff announcements. This unexpected development marks a significant shift in international trade dynamics and also raises some serious concerns about potential US global trade isolation.

Also Read: Sanctions on Russia Are Rapidly Accelerating De-dollarization

G7’s Bold Trade Move Raises Global Tensions And US Isolation Fears

Italy’s Mediating Stance

Italy’s G7 trade policy currently positions the nation as a potential mediator in these escalating tensions, which continue to develop day by day.

Giorgetti told reporters in Rome:

“Within the G7 all of us outside the U.S. spoke to try to calm the situation and find a way to bring the Trump administration to the table and to a reasonable position.”

The decision to exclude the US from G7 tariff talks represents an unprecedented move by nations that are typically aligned on major economic policies. Additionally, Italy welcomed Trump’s subsequent 90-day suspension of many tariff hikes, which came as somewhat of a surprise to many observers.

Trump’s Shifting Tariff Position

President Trump’s policy shift came just hours after new levies against approximately 60 trading partners actually took effect. The sudden change introduced a 10% tariff for most nations during a 90-day negotiation period, creating an atmosphere of uncertainty.

Trump stated regarding his decision:

“I did a 90-day pause for the people that didn’t retaliate because I told them ‘if you retaliate, we’re going to double it’ – and that’s what I did with China.”

However, US-China relations have deteriorated rather quickly, with tariffs on Chinese goods increasing to 125% after Beijing announced retaliatory measures. This particular development has further complicated G7 tariff talks among the remaining members at the time of writing.

Also Read: Two Economic Giants Team Up to Shatter US Dollar Dependence with 6 De-Dollarization Projects

Market Reactions

Markets responded quite dramatically to these trade developments. After Trump suspended higher tariffs for most countries, US shares surged with the S&P 500 closing up an impressive 9.5%.

Senior Democrat Chuck Schumer said:

“Trump is reeling and retreating.”

While a UK government source suggested:

“Cool and calm can pay off.”

Also Read: US Inflation Drops to 2.4% in March 2025

As G7 tariff talks continue without US participation, the international community watches closely to see whether diplomatic efforts will actually avert a full-scale trade war. This exclusion may indeed represent a turning point in how international trade negotiations proceed in the future.