Stc Bahrain, a subsidiary of Bahraini telecom provider Stc Group, recently announced that customers can now settle their invoices with cryptocurrencies by creating a partnership with a payment services provider called Eazy Financial Services. According to a statement, this move by the telecom operator demonstrates its “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.”
Rapid Digitalization of the Global Economy
In a statement, Bahrain’s telecom provider Stc Bahrain announced that it is now accepting cryptocurrency payments. This makes it the first kingdom to do so. The statement also stated that the company had partnered with a payment service provider named Eazy Financial Services. This collaboration enables Stc Bahrain customers to pay their bills with the Binance wallet.
Commenting on the partnership with Eazy Financial Services, Nezar Banabeela, CEO of Stc Bahrain, said:
The world is quickly digitizing, and payments are a critical part. Virtually every digital activity, from online shopping to video streaming to money transfer, is dependent on a payment system.
Banabeela also claimed that the decision of the telecom operator to accept crypto payments is a sign of their commitment to this technology. Stc Bahrain’s “strong focus on advancing Bahrain’s fintech sector as world-class digital enablers.” The CEO also said that his company will be increasing its adoption of cryptocurrencies, as they are “the future of payments.”
Meanwhile, the founder and CEO of Eazy Financial Services, Nayef Tawfiq Al Alawi, said that the partnership agreement allows the operator to accept cryptocurrency payments “in a regulated, secure and extremely fast way.”
For his part, Tameem Al Moosawi, General Manager Of Binance Bahrain, praised Stc Bahrain for being the leader and possibly setting the standard for other telecom operators who are looking to move to the Web3 economy.
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