Stablecoins
How Bahrain treats stablecoins.
Stablecoin Issuance and Offering module live since 2 July 2025. Single-currency fiat-backed only, BHD or USD, 100 percent reserves. No licensed issuer announced yet.
What each regime asks for
Requirements.
Bahrain Cat 1
CBB
BHD 25,000
Fixed, paid-up share capital, unimpaired by losses. CRA-3.1.2.
To applyBHD 100
Each yearBHD 2,000 to 6,000
Decision60 days
Foreign firmsBahrain incorporation or a branch, with locally present management
Bahrain SIO
CBB
BHD 250,000
Plus 2% of average par value in circulation, plus a liquid fund of one quarter of fixed overheads. SIO-4.
To applyBHD 100
Each yearBHD 5,000 to 12,000
Decision60 days
Reserve rule1:1 in BHD or USD, permanent redemption at par, independent audit
Foreign firmsBahrain incorporation or a branch
Bahrain Cat 4
CBB
BHD 300,000
Fixed. Operating a crypto-asset exchange.
To applyBHD 100
Each yearBHD 5,000 to 12,000
Decision60 days
Foreign firmsBahrain incorporation or a branch
Licences
Who holds what in Bahrain.
Every row links to the regulator's own entry.
| Company | Regulator | Licensed for | Granted | Source |
|---|---|---|---|---|
| ARP Digital unconfirmed | CBB | Crypto-Asset Service Provider, Category 3 | 01 Apr 2024 | register ↗ |
| BPay Global stablecoin unconfirmed | CBB | Payment Service Provider licence, not a crypto-asset licence | 09 Apr 2025 | register ↗ |
| Binance Bahrain B.S.C. (c) unconfirmed | CBB | Crypto-Asset Service Provider, Category 4 | 26 May 2022 | register ↗ |
| CoinMENA | CBB | Crypto-Asset Service Provider, Category 3 | 25 Jan 2021 | register ↗ |
| Fasset Financial Services W.L.L. | CBB | Crypto-Asset Service Provider, Category 3 | 23 Jan 2025 | register ↗ |
| Rain Management W.L.L. | CBB | Crypto-Asset Service Provider, Category 3 | 01 Jul 2019 | register ↗ |