Central Bank of Bahrain (CBB) has granted Binance in-principle approval to become a crypto-asset service provider in the kingdom. The CBB granted Binance in-principle approval after the company applied for a license. The company hopes to become a centralized, fully regulated cryptocurrency exchange. Binance is the world’s largest cryptocurrency exchange by trading volume.
According to Binance, the full application process would still need to be completed in due course.