Bahrain Telecom Operator Starts Accepting Crypto Payments

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Stc Bahrain, a subsidiary of the Bahrain telecoms operator Stc Group, recently said its partnership arrangement with payment service provider Eazy Financial Services has created an opening that allows clients 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 Across the Globe’

The Bahrain telecom operator, Stc Bahrain, recently revealed in a statement that it now accepts cryptocurrencies, ostensibly making it the first in the kingdom to do so. The statement also said the company teamed up with the payment service provider Eazy Financial Services. This partnership allows the 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, the CEO of Stc Bahrain, said:

Rapid digitization across the globe is transforming all aspects 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 the telecom operator’s move to accept crypto payments demonstrates Stc Bahrain’s “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.” In addition, the CEO said his company plans to make the acceptance of crypto “a seamless process and increase adoption as crypto is the future of payments.”

Meanwhile, the founder & CEO of Eazy Financial Services, Nayef Tawfiq Al Alawi, claimed that the partnership arrangement makes it possible for the telecom operator to accept cryptocurrency payments but “in a regulated, secure and extremely fast manner.”

For his part, Tameem Al Moosawi, the general manager at Binance Bahrain, commended Stc Bahrain for taking the initiative and for potentially setting the benchmark for telecom operators that want to transition to the Web3 economy.

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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