KEY TAKEAWAYS
- Crypto.com and Beyon Money signed an MOU to explore strategic collaboration in digital payments and AI innovation.
- The partnership aims to enhance customer experiences in Bahrain by leveraging both companies’ strengths in payments and financial services.
- Crypto.com recently obtained a Payment Service Provider license from the Central Bank of Bahrain, reinforcing its commitment to the region.
- The collaboration will focus on co-marketing and integrating platforms to streamline cryptocurrency purchases.
Bahrain, 31 October 2024 – Crypto.com and Beyon Money have announced their intention to explore a strategic collaboration in the transaction and payments space. The partnership will also focus on joint innovation opportunities in artificial intelligence and open banking. This collaboration was formalized through a Memorandum of Understanding (MOU) signed by both companies.
The partnership aims to leverage Beyon Money’s expertise as a payment platform and financial super-app, alongside Crypto.com’s core capabilities and retail products. The goal is to enhance the overall experience for their customers in Bahrain.
Focus on Digital Payments and Innovation
Eric Anziani, President and COO of Crypto.com, expressed the company’s interest in partnering with Beyon Money, highlighting their leadership in the digital payments space within the Kingdom. Anziani noted that Beyon Money’s product structure and reach in Bahrain, coupled with a strong user base, make them an ideal partner for expanding innovative product ranges and services.
Roberto Mancone, CEO of Beyon Money, emphasized the company’s commitment to forming partnerships with leading global players. He stated that the collaboration with Crypto.com will focus on co-marketing and promoting their respective cards. Additionally, the partnership will work on integrating platforms to streamline cryptocurrency purchases on the Crypto.com app.
Regulatory Milestones and Future Plans
This announcement follows Crypto.com’s recent achievement of obtaining a Payment Service Provider license from the Central Bank of Bahrain. This regulatory milestone underscores the company’s commitment to the Bahraini market.
The collaboration between Crypto.com and Beyon Money is set to explore innovative technologies that create value through tangible use cases for clients. The companies aim to enhance their offerings and provide seamless financial services to their customers in Bahrain.
For more details, the announcement can be found here.
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