Thursday 11, October 2018 by Jessica Combes

‘Rain’ set to be first digital currency to achieve full Middle East licence

 

GCC focused exchange Rain has been operating in the Central Bank of Bahrain (CBB) sandbox since December 2017.

Bahrain based digital currency exchange, rain, has today announced the launch of its public waiting list, ahead of a full scale launch next year.

Rain is a digital currency exchange and custodian in the Middle East that allows people to buy, sell, and store digital currency in a regulated, secure, and compliant way. When it goes live it will be the first licensed digital currency exchange in the Middle East, providing a regulated, trustworthy exchange.

Rain was founded in 2016 by four global cryptocurrency experts and entrepreneurs—Yehia Badawy, Abdullah Almoaiqel, AJ Nelson and Joseph Dallago—who shared a joint vision to provide a fully licensed exchange to provide security for local digital currency traders.

In their mission to be the first licensed digital currency exchange in the GCC, rain is also working closely with Bahrain Fintech Bay (BFB) and the Economic Development Board (EDB) and is one of the first digital currencies exchanges in the world to have established secure partnerships with regulated banks.

Rain is backed by a high-profile list of investors from the cryptocurrency industry including Breadwallet (also known as BRD), Blockwater, JMBullion, CMT—Capital Markets Trading and bitcoin developer Jimmy Song. For full list please see the attached FAQ.

As well as providing a secure exchange Rain also believes in providing education and collaboration opportunities to this burgeoning industry and currently runs 14 Meetup groups in seven countries—KSA, Egypt, UAE, Bahrain, Oman, Jordan and Kuwait.

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