The Central Bank of Bahrain has given EazyPay a green signal to conduct crypto payments and also launch Bitcoin in the region.
EazyPay is an online payment gateway platform. This was announced by the CEO of EazyPay, Nayef Alawi.
EazyPay has now partnered with Binance, which is a renowned crypto exchange along with a payment services provider.
This partnership will enable EazyPay to carry out more than 5,000 point-of-sale (POS) terminals and payment gateways in Bahrain, which will help accept Bitcoin.
Users who are willing to use Bitcoin as a payment method shall be provided with a QR code from EazyPay’s platform.
This QR code from EazyPay that users will receive has to be scanned with the Binance App. This will help with smooth and instant payments in the chosen currency.
Binance will also offer convenience for businesses such as payment merchant EazyPay and for those merchants who wish to use the platform in order to get quick fiat conversions for these merchants.
Local merchants and firms, which include Lulu Hypermarket, Sharf DG, Al Zain Jewelry, and Jasmi’s, shall accept over 70 crypto as payment options.
The payment has to go through by scanning the QR code from the EazyPay platform and then heading over to the Binance App.
Developments Within The Crypto Industry In Bahrain