GFH Financial Group (“GFH” or the “Group”) announced a partnership with “Binance”, the world’s leading blockchain and digital asset trading platform, to launch a first-of-its-kind initiative in the Kingdom of Bahrain, which is the first cryptocurrency payment solution integrated with banking services. This strategic partnership harmoniously combines the trust and security provided by traditional finance, and the innovation provided by blockchain technology, which consolidates GFH’s position as the first financial institution in the Kingdom of Bahrain that enables its customers to make direct and instant transfers from cryptocurrencies to cash currencies.
Under this partnership, GFH customers will be able to use the Binance Pay service directly through the GFH application to fund their investments instantly. This new feature provides a secure and fully digital payment experience, bypassing the traditional obstacles that separate digital assets from regular banking services.
Commenting on this partnership, Mr. Osama Nasr, CEO of Digital Banking at GFH Financial Group, said: “Our partnership with Binance represents a milestone in GFH’s digital transformation journey. By combining traditional banking services with blockchain technology, we are ushering in a new era of convenience, security and accessibility for our customers. This initiative reinforces our vision to provide smarter, more connected financial experiences.”
Customers can now choose the Binance Pay service to fund their investments via the GFH app and complete subscriptions within seconds, simplifying the mechanics of using digital assets in daily financial transactions. This initiative represents a qualitative shift, the first of its kind in the Bahraini banking sector, and is consistent with the Kingdom’s commitment to promoting innovation and leadership in financial technology.
For his part, Mr. Tamim Al-Mousawi, General Manager of Binance Bahrain, added: “We are proud to cooperate with GFH in this pioneering initiative, which directly supports the pillars of Bahrain’s Economic Vision 2030. By building a bridge between the cryptocurrency and traditional finance ecosystems, we are contributing to building a more competitive and sustainable digital economy. This partnership not only enhances financial innovation, but also supports digital culture and consolidates the Kingdom’s position as a leader in the future of the financial sector. We are committed to supporting the transformation process.” digital technology in the region by providing secure and easy-to-access blockchain technology.”
This collaboration is in line with GFH’s strategy to lead digital transformation across the region, by integrating AI, blockchain and financial technology innovations to redefine customers’ interactions with financial services.
