GFH Financial Group (“GFH” or “the Group”), a Gulf Islamic Investment Bank, headquartered in Bahrain has partnered with Binance crypto and Blockchain infrastructure provider to launch Bahrain’s first bank-integrated crypto payment solution.
As per the press release, the collaboration seamlessly merges the trust and security of traditional finance with the innovation of blockchain technology. GFH has become the first financial institution in Bahrain to enable direct, real time crypto-to-fiat transactions, using Binance Pay. GFH customers can use Binance Pay directly within the GFH’s App to fund their investments in real time. The new functionality delivers a secure, fully digital payment experience, eliminating traditional barriers between digital assets and everyday banking.
Mr. Osama Nasr, the Chief Digital Banking Officer at GFH Financial Group, commented, “Our partnership with Binance marks a defining moment in GFH’s digital transformation journey. By bridging traditional banking with blockchain technology, we are introducing a new era of convenience, security, and accessibility for our customers. This initiative reinforces our vision to deliver smarter, more connected financial experiences.”
Customers can now choose Binance Pay to fund their investments on GFH App, and complete subscriptions within seconds, simplifying how digital assets can be used in everyday financial transactions.
Tameem Al Moosawi ,General Manager Binance Bahrain, explained that this supports pillars of Bahrain’s Economic Vision and bridges crypto with traditional finance ecosystems. He explains,” We are contributing to a more competitive and sustainable digital economy. This partnership not only enhances financial innovation but also fosters digital literacy and positions the Kingdom as a leader in the future of finance. We are committed to supporting the region’s digital transformation journey with secure and accessible blockchain technology.”
The UAE has also made similar collaborations between banking entities such as Liv Bank a subsidiary of Emirates National Bank, which collaborated with Aqua Now, for seamless fiat crypto settlements, and UAE Rak Bank which has collaborated with BitPanda. The GCC region is slowly integrating digital assets with traditional financial systems.
