Real estate developer Bin Faqeeh and Binance, the world’s leading cryptocurrency exchange have partnered to enable the purchase of a crypto property in Bahrain using Binance Pay. This new acceptance of crypto confirms the status of a crypto stronghold that Bahrain is gradually building.
Accessing real estate in Bahrain with crypto
It is now possible to buy an apartment or a house using crypto in the Kingdom of Bahrain. This is all that Bin Faqeeh Real Estate Investment Company, the largest real estate developer working in Bahrain, announced on Instagram. To make it possible to buy the buildings in crypto, Bin Faqeeh has partnered with Binance, the largest cryptocurrency exchange. CZ, the CEO of Binance actually shared the news excitedly on Twitter.
At the moment, Bin Faqeeh has not given any preference for a specific cryptocurrency. All indications are that more than 80 cryptocurrencies supported by Binance Pay are thus accepted.
Bahrain, a land of crypto
Crypto is increasingly confirmed as a means of payment for goods and services in the world. The Kingdom of Bahrain is one of the countries at the forefront of this technological and financial development.
In 2019, the country passed a clear law regulating the cryptocurrency sector. This regulatory framework has attracted several companies in the crypto sector. The Central Bank of Bahrain even seems to want to get into the Bitcoin business with OpenNode.
A few months ago, fintech Eazypay partnered with Binance, the world’s largest cryptocurrency exchange to enable crypto payments in more than 5,000 businesses in Bahrain. Through this partnership, Binance is also making it easier for businesses to quickly convert fiat to crypto.
United Arab Emirates, Saudi Arabia…, the Middle East continues to open up to crypto. Although small in size, the Kingdom of Bahrain is clearly determined to remain at the forefront of this crypto revolution.
I dream of a world where every citizen has total control over themselves, including their finances. I believe that Bitcoin is one of the tools that will achieve this revolution. Since 2019, I am learning about this cryptocurrency and spreading the word around.
