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Belfrics Granted ‘Sandbox License’ to Open Crypto Exchange in Bahrain



Bitcoin Network

The Central Bank of Bahrain has awarded bitcoin technology provider, Belfrics Global, a sandbox license to open and operate a cryptocurrency exchange in the Arabian Gulf nation. As such, Belfrics is reported to have become the first company to receive an official mandate to open a cryptocurrency exchange in the Middle Eastern/North African region.

Central Bank of Bahrain Grants Sandbox License to Belfrics

Belfrics Granted 'Sandbox License' to Open Cryptocurrency Exchange in BahrainMalaysian-based cryptocurrency technology provider, Belfrics Global, has successfully received a mandate from Bahrain’s central bank to open a cryptocurrency exchange in the nation. The approval granted by the central bank of Bahrain is expected to give Belfrics access to the $50 billion USD digital transaction industry of the Middle Eastern/North African nation.

The Chairman and CEO of Belfrics Global, Mr. Praveen Kumar Vijayakumar, has welcomed the sandbox licensing, stating “We are excited to receive this approval from the Central Bank of Bahrain (CBB) as it provides access to a $50 billion digital transaction market in the MENA region alone. This is a first of many licenses that we are targeting for the year 2018. Bahrain is an ideal region for us to showcase our cryptocurrency-based payment systems, and with the help of CBB and other central banks, we will be able to implement our identity management solutions using the Belrium Blockchain pretty soon.” Jabeer KM, Belfrics’ Chief Operating Officer, described the approval as “a perfect start for the year 2018,” adding, “We are also working closely with central banks in Africa, Middle East and Asia to regulate the cryptocurrency space using our innovative KYC-based blockchain, Belrium.”

Belfrics Expands International Operations

Belfrics Granted 'Sandbox License' to Open Cryptocurrency Exchange in BahrainThe news comprises a follow-up to announcements from Bahrain’s government in September 2017 that indicated the country’s intention to develop ‘sandbox’ legislation for the cryptocurrency, industryakin, to those enacted by Singapore and the United Kingdom. Alongside the announcement, Khalid Al Rumaihi, the chief executive of the Economic Development Board of Bahrain, then indicated the country’s desire to issue bonds via distributed ledger technology. The move has been perceived as intended to further Bahrain’s bid to become a regional fintech hub, despite the nation’s small population.

Founded in 2014, the Kuala Lumpur-based company presently operates in Singapore, India, Kenya, China, Indonesia, Malaysia Dubai and Hong Kong, in addition to providing point of sale (POS) and other payment technology to merchants wanting to accept cryptocurrency as a method of payment. Belfrics’ Singaporean exchange comprises what it describes as a ‘global exchange’ that provides cryptocurrency pairings using USD as its base currency, whilst the company’s other exchanges are described as ‘local’ – exclusively offering pairings in the national currency for the country in which the exchange is domiciled. Belfrics has also indicated its intention to expand its African presence by opening exchanges based in Nigeria, Botswana, and Ghana.

The post Belfrics Granted ‘Sandbox License’ to Open Crypto Exchange in Bahrain appeared first on Belfrics India.



Review: T1Markets, a Popular Trading Platform for All Your CFD Needs



T1Markets is a Cyprus based regulated online CFD trading platform operated by General Capital Brokers Ltd. The three-year-old platform operating since 2017 with CySEC license (No. 333/17) offers more than 300 CFD products in forex, cryptocurrencies, commodities, stocks, indices and precious metals.

The T1Markets online CFDs trading platform is designed to be user-friendly and packs a lot of features for the convenience of its trading community. Available for both new as well as seasoned traders, the platform makes traders feel at home by providing MetaTrader 4 based WebTrader interface which is accompanied by mobile trading applications for Android and iOS-powered mobile devices.

While experienced traders do not need an introduction to the T1Markets WebTrader, new users will find it intuitive and flexible. It comes with a highly customizable dashboard and sophisticated, yet user-friendly trading charts and analytical tools that help traders make the right trading decisions and place orders with just a single click.

Some of the noteworthy features of the T1Markets platform include multiple chart windows, real-time balance levels, trade updates, in-platform price alerts, one tap account switching, multiple trade execution methods and more. Like most of the other MetaTrader 4 based platforms, the exhaustive list of trading tools includes more than 30 technical indicators including lines, channels, bars, geometric shapes, Gann, Fibonacci and Elliott tools over 9 time frames (MN, W1, D1, H4(H1), M1, M5, M15 and M30(H1). Traders can choose to keep themselves constantly in touch with the markets by receiving news updates, trading signals, order status, etc. as notifications.

Start Trading

T1Markets has three different account types SILVER, GOLD and PLATINUM designed to cater to the needs of traders having different levels of experience. The process of creating an account on T1Markets is simple, with users required to provide their personal information including name, email, and phone number, followed by the completion of a questionnaire regarding their trading experience. After finishing the initial sign up process, they will also have to complete the KYC requirements and make a deposit using any of the available payment methods. With these formalities off the way and the account approved, users can start trading any of the available CFD products.

Account Types and Benefits

Account Type



Deposit Commission

0% 0% 0%


Variable Variable



Retail 1:30

Professional 1:200

Retail 1:30

Professional 1:400

Retail 1:30

Professional 1:500

Withdrawal Process

5 days 5 days

5 days

News Alert

Yes Yes


Free VPS

No Yes


Dedicated Account Manager

Yes Yes


Webinar & Videos

Yes Yes


Islamic Accounts

Yes Yes


24/5 Support

Yes Yes


5th Decimal

Yes Yes



Yes Yes


Swap Discount None 25%


CFD Products

T1Markets has more than 300 CFD products on offer, which includes:

  • Over 45 various currency pairs with leverage of up to 1:500
  • More than 30 cryptocurrency CFDs for portfolio diversification
  • 20+ commodity assets including metals, energies, livestock, agri products at up to 1:125 leverage
  • Major world indices including ASX100, DAX 30, DOW 30, FTSE 100, NASDAQ 100 with up to 125X leverage
  • Stocks and Equities belonging to leading global companies like Apple, Microsoft, Google, British Petroleum etc.
  • Precious metal CFDs like Gold, Silver, Palladium and more

Payment Methods

The T1Markets CFD platform supports multiple payment methods for deposits and withdrawals. Some of the popular payment options include MasterCard and Visa Credit Cards, Wire Transfer, Skrill, Neteller, Safe Charge, Wirecard, OrangePay, PayVision and more.

All deposits are processed within a few hours without any additional commissions charged by the platform. However, withdrawals are not as quick as making deposits as T1Markets has a timeline of 5 days to process them.

Providing a Hassle-free Trading Experience

With a knowledgeable and well-trading team in place, T1Markets support desk ensures that all the platform or trading related queries are quickly resolved. The customer support team is available 7 days a week from 10:00 AM GMT to 20:00 PM GMT and can be either reached through the platform’s live chat, over email or through a phone call.

In addition to customer support, the availability of educational resources like articles, videos, VOD, ebooks, tutorials and courses allows users to learn more about the platform, the best trading strategies and more. All these learnings can be put to practice by using the T1Markets demo account at zero risk.

The state-of-the-art security features further reduce users’ risk by ensuring the safety of all the information as well as funds on the platform. These security features include SSL software, firewalls, Level 1 PCI compliance assistance moderation standards, SAS70 certified server centers, and data encryption across multiple levels.

T1Markets also offers Shariah-compliant Islamic trading accounts for those who prefer it for religious reasons.

Yes or No?

T1Markets is a regulated, online CFD trading platform that offers some of the best features in the industry. It is secure, easy to use and is suitable for the needs of both novice and expert traders alike. By taking all these factors into account, one can say that T1Markets is definitely a platform worth exploring.

Sign up on T1Markets at –


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Crypto Wallet CEO Ron Hose is UnionBank’s New Director



September 28, 2020 – Ron Hose, the CEO of Bitcoin, cryptocurrency and mobile wallet, one of the licensed virtual currency exchange (VCE) in the Philippines has been appointed independent director of UnionBank, a major universal bank in the country.

Ron Hose CEO Ron Hose (left) and Coin Republic CEO David Moskovitz are speaking at Cards and Payments Asia in 2016. From Facebook page

The news was first revealed via a disclosure to the Philippine Stock Exchange (PSE) today. Dated Sept. 25, it revealed that UnionBank’s Board of Directors elected Mr. Hose as an independent director to serve the remaining term of office of Mr. Edwin M. Elechicon, who passed away last June.

Mr. Hose will serve in the following Board Committees:

  • Market Risk Committee as Chairman
  • Risk Management Committee as Regular Member
  • Operations Risk Management Committee as Regular Member
  • Corporate Governance Committee as Regular Member
  • Technology Steering Committee as Regular Member

UnionBank’s disclosure took note of Mr. Hose’s accomplishments. A graduate of Cornell University in 2005 with a Masters of Engineering Degree in Computer Science, he is the Founder and CEO of, a cryptocurrency and mobile wallet with more than 5 million customers. Mr. Hose also held positions in Zapeddy and served as CTO and Director of TokBox, Inc. from 2007 to 2009. is one of the first to receive the virtual currency exchange (VCE) license from the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, which allowed it to engage in cryptocurrency to fiat transactions and vice versa. also has an e-money license, allowing it to legally engaged in electronic money services. and UnionBank have had numerous collaborations through the years. A highlight was the bank’s Bitcoin ATM, which is powered by’s to enable its system. Essentially, buying Bitcoin through UnionBank’s ATM is based on the rates found on and UnionBank are members of multiple organizations promoting fintech for financial inclusion and blockchain, including Fintech Philippines Association and the Distributed Ledger Association of the Philippines.

This article is published on BitPinas: Crypto Wallet CEO Ron Hose is UnionBank’s New Director

About BitPinas:

BitPinas is an independent blockchain, finance, and cryptocurrency news site covering the crypto and blockchain news and developments in the Philippines. We aim to be the website where you can find all information on blockchain and crypto in the Philippines. We are read by investors and enthusiasts alike, including crypto/blockchain company founders and government personnel. Contact [email protected] for more information, consulting advice, and partnerships. Follow us on Facebook and Twitter.

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Research: Cryptocurrencies Are The Leading Point of Entry for Retail Investors In Emerging Countries



The popular digital asset exchange Huobi Group has compiled a study exploring the investment profiles of cryptocurrency traders in emerging markets. It concluded that digital assets such as Bitcoin and Ethereum have become “the first point of entry to financial management for many individuals.”

The majority of the survey’s participants came from Europe, Asia, Africa, and South America. The study concluded that most of them are relatively new to investing.

78% answered that their investment experience is less than a year, while only 17% said they had been actively trading or investing for five or more years.

Entering crypto via BTC and ETH. Image by CryptoPotato

“considering 73% of respondents were of prime working age (26-50 years old), age was not a major contributor to the low levels of prior investing experience.” According to the report.

Furthermore, most participants reaffirmed that cryptocurrencies are their preferable investment instruments with a sizeable difference compared to other markets. Equity trading is next with 30%, while other traditional products such as bonds, real estate, investment funds, and forex received less than a quarter of the answers.

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Longer-Term Holders Stick With Bitcoin And Ethereum

The research revealed that most investors maintain short-term views on cryptocurrencies. 55% indicated that their horizon is less than a year. Only 13% aim for a more extended period (more than four years).

However, when it comes down to specific digital assets, the situation was somewhat different. Bitcoin and Ethereum investors appeared “much more likely to hold” their coins for at least three years.

Interestingly, while most retail investors had answered that their annual income is relatively modest, their investment allocations in cryptocurrencies seemed quite significant.

“A majority (54%) report having an annual income of $10,000 or lower, and very few (13%) earn more than $50,000 per annum. Nearly half (49%) of the respondents plan to invest between 10 – 30% of their annual income in digital assets, and almost 25% plans to allocate more than 30% of their income in crypto.”

Vice President of Global Business at Huobi Group, Ciara Sun, commented that these findings:

“aren’t surprising. They do solidify our belief that digital assets will continue playing a significant role in the future borderless economy and help drive global financial inclusion. As crypto becomes more accessible, it will become a gateway to other financial products and services, helping set a path to financial wellbeing.”

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