Bahrain Telecom Operator Begins Accepting Crypto Payments – Bitcoin news from emerging markets
Stc Bahrain, a subsidiary of Bahraini telecom operator Stc Group, recently said its partnership agreement with payment service provider Eazy Financial Services has created an opening that allows customers to pay bills using crypto. According to a statement, the telecom operator’s move demonstrates its “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.”
“Rapid digitization worldwide”
Bahraini telecom operator Stc Bahrain recently revealed in a statement that it now accepts cryptocurrencies, apparently making it the first in the kingdom to do so. The statement also said the company merged with payment service provider Eazy Financial Services. This partnership allows Stc Bahrain’s customers to settle their bills using the Binance wallet, the statement added.
Commenting on the partnership with Eazy Financial Services, Nezar Banabeela, CEO of Stc Bahrain, said:
Rapid digitization worldwide is transforming every aspect of our lives, and payments are the most crucial element. From online shopping and streaming videos to money transfers, almost every digital activity relies on a payment system.
Banabeela also claimed that the telecom operator’s move to accept crypto payments demonstrates Stc Bahrain’s “strong focus on promoting Bahrain’s fintech sector as a world-class digital enabler.” In addition, the CEO said his company plans to make accepting crypto “a seamless process and increase adoption as crypto is the future of payments.”
Meanwhile, the founder and CEO of Eazy Financial Services, Nayef Tawfiq Al Alawi, claimed that the partnership arrangement enables the telecom operator to accept cryptocurrency payments, but “in a regulated, secure and extremely fast way.”
For his part, Tameem Al Moosawi, General Manager of Binance Bahrain, praised Stc Bahrain for taking the initiative and for potentially setting the standard for telecom operators looking to transition to the Web3 economy.
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