EazyPay and Binance Launch MENA’s First Regulated Crypto Payment Service

EazyPay and Binance Pioneer Regulated Crypto Payments in MENA

EazyPay, a Bahrain-based financial institution specializing in POS and online payment solutions, has joined forces with Binance, the world’s largest digital asset exchange, to launch the MENA region’s first regulated and approved crypto payment service. This strategic partnership marks a significant milestone in the adoption of cryptocurrency for everyday transactions.

Key Features of the New Service

The collaboration enables consumers to make payments using cryptocurrencies through Binance Pay at over 5,000 POS terminals and online payment gateways in Bahrain. Merchants, including major retailers like Lulu Hypermarket and Sharaf DG, can now accept payments in over 70 cryptocurrencies. Transactions are processed in real-time by scanning a QR code generated through Binance Pay.

Executive Insights

Nadeem Ladki, Head of Business Development at Binance MENA, highlighted EazyPay’s innovative move, stating that this partnership sets a new standard for the payments industry as it transitions into the Web3 economy. Nayef Tawfiq Al Alawi, CEO of Eazy Financial Services, expressed his enthusiasm, calling the partnership a historic achievement for both companies in the payment sector.

Regional Significance

This partnership underscores the growing acceptance of cryptocurrencies in the MENA region, positioning Bahrain as a hub for fintech innovation. By integrating Binance Pay, EazyPay is paving the way for broader cryptocurrency adoption, offering a seamless and regulated payment solution for businesses and consumers alike.