BPay Global, a payment services company in the Binance Group, has announced that it has been licensed as a Payment Service Provider by the Central Bank of Bahrain. This will allow the company to provide fiat services to Binance users around the world*, including fiat deposits and withdrawals, custody and other payment services.
BPay Global will provide Binance users with a fiat e-wallet designed to allow them to hold and store their own funds in global fiat currencies. This will enable users to open a wallet and make fiat deposits on the Binance platform through bank transfers and debit/credit card payments. The license will also allow BPay Global to custody fiat on behalf of users.
Tameem Almoosawi, General Manager of Binance Bahrain and BPay Global, commented: “We are glad to announce the launch of BPay Global and the first Payment Service Provider license received by a Binance company, allowing it to act as a payment service provider, acquirer and e-wallet provider for users around the world. With this license, BPay Global will provide Binance users with further choice of low-cost fiat on- and off-ramps.”
Thomas Gregory, VP of Fiat at Binance and Chairman of BPay Global , added: “Choice and resilience in our fiat channel offering is essential as a centralised exchange. By now having a licenced PSP within the Binance Group, our consumer and corporate users around the world will benefit from enhanced on- and off-ramp experiences and can have increased confidence that the fiat services they depend on are designed and catered exactly for their needs.”
BPay Global will be available to Binance users in eligible countries as a fiat deposit and withdrawal channel during Q2 2025 once it is fully integrated into the Binance platform.
*BPay Global will service Binance users globally except for those in: the EEA, sanctioned countries, and certain other restricted countries.
