Bahrain Telecom Operator Begins Accepting Payments in Cryptocurrencies – Bitcoin Emerging Markets News

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 for customers to pay bills using encryption . 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”

Bahrain’s telecom operator Stc Bahrain recently revealed in a statement that it now accepts cryptocurrencies, seemingly making it the first in the kingdom to do so. The statement also said the company has partnered with payment service provider Eazy Financial Services. This partnership allows STC Bahrain customers to pay bills using the Binance wallet, the statement added.

Commenting on the partnership with Eazy Financial Services, Nezar Banabeela, CEO of Stc Bahrain, said:

Rapid digitalisation around the world is transforming all aspects of our lives and payments are the most crucial element. From online shopping and streaming video to money transfers, almost every digital business relies on a payment system.

Banabeela also said the telecom operator’s move to accept payments in cryptocurrencies demonstrates Stc Bahrain’s “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.” Furthermore, the CEO said that his company intends to make the acceptance of cryptocurrencies “an ongoing process and increase adoption as cryptocurrencies are the future of payments”.

Meanwhile, Eazy Financial Services founder and CEO Nayef Tawfiq Al Alawi said the partnership deal allows 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, commended STC Bahrain for taking the lead and potentially setting the benchmark for telecom operators looking to transition to the Web3 economy.

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Terence Zimwara

Terence Zimwara is a Zimbabwean journalist, author and award-winning writer. He has written extensively on the economic woes of some African countries and how digital currencies can provide Africans with an escape.

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