Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has launched its futures products in Bahrain.
The move comes after receiving regulatory approval to offer the products to eligible local users. It is the first regulated exchange in the region to offer these services and the only exchange with a CAT4 license.
Mr. Tameem Al-Moosawi, General Manager of Binance Bahrain, said that, “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,” Mr. Al-Moosawi added.
According to the statement, “The launch of Binance USD-Margined and Coin-Margined Futures follows a comprehensive regulatory review and consultation period to ensure that Binance Bahrain has met the necessary compliance and governance requirements to offer futures products locally in a regulated manner.”
The company noted that the eligible local users must complete and pass a mandatory suitability assessment questionnaire in order to access the products.
The Binance platform is dedicated to increasing the freedom of money for users. It features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and so on, as per the statement.