August 31, 2023

Binance Bahrain Introduces Crypto Futures Products

Binance Bahrain

Binance Bahrain

Binance, a prominent blockchain infrastructure provider and cryptocurrency ecosystem, has introduced its futures products in Bahrain.

The company has obtained regulatory approval to offer these products to eligible users in the region. Binance Bahrain BSC is the first exchange in the region to provide these services, and it holds a CAT4 license.

A thorough regulatory examination and consultation phase were carried out before the launch of these products. Binance Bahrain BSC, which runs the regulated Binance Bahrain platform, has met the required compliance and governance standards to provide futures products in a regulated manner.

Local users who meet the requirements must complete and pass a mandatory suitability assessment questionnaire to access the products.

Binance‘s futures products are utilized by users worldwide for liquidity and hedging, offering low slippage and highly competitive prices. Binance is a leading global market for digital assets, with high volume in both spot and futures trading, as well as deep order book depth.

In this regard, General Manager of Binance Bahrain Tameem Al-Moosawi said: “We are pleased to be able to offer crypto futures to our users and meet market demand for liquidity products. We want to take the opportunity to express our gratitude to the Central Bank of Bahrain for their consultation that has allowed us to bring to market these products in a regulated manner. Binance is committed to compliance and its users, and we are focused on building the local digital assets ecosystem that is sustainable for the long-term.”

It is worth mentioning that Binance Bahrain obtained a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB) in May 2022.

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