Binance launches crypto futures in Bahrain

Binance has launched its futures products in Bahrain after receiving regulatory permission to offer the products to eligible local users.

Binance Bahrain BSC is the first regulated exchange in the region to offer these services and the only exchange with a CAT4 licence.

The launch of these products follows a comprehensive regulatory review and consultation period to ensure that Binance Bahrain BSC, which operates the regulated Binance Bahrain platform, has met the necessary compliance and governance requirements to offer futures products locally in a regulated manner.

Eligible local users must complete and pass a mandatory suitability assessment questionnaire in order to access the products.

Users worldwide utilise Binance’s futures products for liquidity and hedging and enjoy low slippage and highly competitive prices. Binance leads the global digital assets market in both spot and futures trading volume and order book depth.

Tameem Al-Moosawi, general manager of Binance Bahrain, 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.”

Read: Binance gets in-principle approval in Bahrain to provide crypto services

Read: Why Bahrain remains a key player in GCC’s financial sector