The Bank of Bahrain and Kuwait (BBK) has entered into a Memorandum of Understanding (MoU) with Binance, the world's largest cryptocurrency exchange, to integrate Crypto-as-a-Service (CaaS) into its mobile banking platform, marking the first such initiative by a Gulf Cooperation Council (GCC) banking institution. The announcement was made during the two-day Gateway Gulf Investment Forum Bahrain 2025, which concluded on Monday, in the presence of government officials, investors, and business leaders focused on advancing financial innovation in the region.
Under the Binance Link Program, BBK will leverage white-label CaaS solutions and plug & play APIs to enable customers to buy, sell, and manage cryptocurrency holdings directly within the BBK mobile app, eliminating the need for separate Binance accounts. A dedicated dashboard will allow users to view digital assets alongside traditional investments, enhancing the unified banking experience. Yaser Alsharifi, Group Chief Executive of BBK, emphasized that this partnership supports the bank's digital transformation and aligns with Bahrain's vision to become a fintech hub, providing secure access to broader investment opportunities.
Tameem Al Moosawi, General Manager of Binance Bahrain, praised the collaboration, stating it reinforces Bahrain's leadership in crypto-asset innovation. Catherine Chen, Head of VIP and Institutional at Binance, highlighted the exponential growth in institutional demand for crypto services in the GCC and expressed commitment to helping BBK scale these offerings to unlock new growth potential. The integration is pending regulatory approval from the Central Bank of Bahrain (CBB), which has been proactive in licensing crypto exchanges and promoting blockchain adoption.
In a related development, BBK also signed an MoU with ATME, a CBB-licensed digital asset exchange, to explore tokenization opportunities using Distributed Ledger Technology (DLT) for asset management and investments. Additionally, BBK reported strong Q3 2025 financial results, with net profit reaching BD 17.9 million, earnings per share rising 8.5% to 10 fils, and total comprehensive income surging 115% to BD 44.5 million, driven by a 6.1% increase in net fees and commission income.
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