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Follow on Google News | Belfrics Global all set to tap the USD 50 billiondigital payment markets in the MENA regionMr. Praveen Kumar Vijayakumar, Chairman& The Sandbox license is a type of regulatory framework that is being adopted by central banks to allow FinTech firms to showcase their innovative technologies through lighter capital and entry requirements. The Sandbox license will give Belfrics Groupdirect access to the emerging market of Bahrain, which has been competing with Dubai and other Middle Eastmarkets in the FinTech space. Bahrain has been at the forefront of FinTech adoption in the Middle East by adopting innovation in payment systems, providing an incubation and funding ecosystem for startups and establishing a FinTech Regulatory Sandbox. Speaking about the approval, Jabeer KM, Chief Operating Officer for Belfrics Group of companies said,"We are set to establish our KYC-based solution and exchange services in 7 more countries in 2018 and the approval from CBB is a perfect start for the year 2018. We are also working closely with central banks in Africa, Middle East and Asia to regulate the crypto currency space using our innovative KYC-based blockchain, Belrium." About Belfrics: Belfrics, a blockchain technology development and crypto exchange firm, operates their exchanges in Singapore, India and Kenya. The exchange recently raised capital from the market by launching the Initial Coin Offering for Belrium blockchain, which can propel exchanges and many blockchain-based businesses to comply with regulatory requirements of KYC and AML compliance. Contact Details: Global HQ Belfrics Global Sdn Bhd Office #B1-16- 6, Soho Suites @KLCC, Jalan Perak, 50450, Kuala Lumpur. http://malaysia.belfrics.com support@belfrics.com End
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