Stc Bahrain, a subsidiary of the Bahraini Telecom operator Stc Group, recently declared that it had inked an agreement with a payment service provider, Eazy Financial Services. This arrangement allows customers to make payments using digital currencies, thus creating a path for the emergence of the Web3 economy.
Increasing Digitization of the Global Economy
In a statement released by the Bahraini Kingdom, it was revealed that Stc Bahrain is now accepting cryptocurrency payments. This makes it the first kingdom to do so. The statement also indicated that the company has partnered up with a payment services provider, Eazy Financial Services. This partnership enables Stc Bahrain customers to settle their invoices using the Binance wallet.
Commenting on the partnership with Eazy Financial Services, Nezar Banabeela, CEO of Stc Bahrain, said:
Rapid digitalization is transforming all aspects of our lives, with payments at the forefront. Virtually every digital activity, from online shopping to video streaming to money transfer, depends on a payment system.
The telecom operator also stated that this move was a demonstration of its commitment to advancing Bahrain’s fintech sector as a world-class digital enabler. In addition, the CEO further added that the company intends to further increase adoption of digital currencies, since they are the future of payments.
Meanwhile, according to a report, the partnership agreement between the two companies allows the telecom operator to accept cryptocurrency payments in a regulated, secure and extremely fast way. Nayef Tawfiq Al Alawi, the Founder and CEO of Eazy Financial Services, commented on the matter.
For his part, Tameem Al Moosawi, General Manager Of Binance Bahrain, lauded 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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