Manama, Kingdom of Bahrain, 23 January 2025 – The Central Bank of Bahrain (“CBB”) has granted “Fasset Financial Services W.L.L.” a Crypto Asset Service Provider – Category 3 license to operate in the Kingdom of Bahrain, allowing the company to provide crypto-asset trading services.

On this occasion, Mr. Abdulla Haji, Director of Licensing Directorate at CBB, said “We are pleased to announce the issuance of a license to a new Crypto Asset Service Provider in the Kingdom of Bahrain, marking our continuous commitment to fostering a robust and progressive regulatory environment. This reflects CBB’s continued efforts to create a secure and transparent ecosystem for businesses and investors in the digital asset space, in addition to the increased appetite for crypto-services regionally and globally. By maintaining high standards of compliance and innovation, we remain dedicated to strengthening Bahrain’s position as a regional leader in fintech.”

Commenting on this announcement, Mr. Mohamed Sabra, General Manager and Board Member at Fasset Financial Services W.L.L., said “We are honored to receive this license from the Central Bank of Bahrain, marking a significant milestone in our mission to democratize access to digital assets in the region. This approval underscores Bahrain’s progressive stance towards fintech innovation and reinforces our commitment to providing secure and compliant digital asset products. We look forward to contributing to the Kingdom’s dynamic digital economy and supporting its vision for continued leadership in financial innovation.”

It is worth noting that this is the fifth Category 3 crypto service license to be granted by CBB since the first license of this type was granted in 2020, bringing the total number of Crypto Asset Service Providers of all categories to eight.