• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Fintech

Bahrain crypto exchange Rain first to secure licence in the Middle East

Bahrain crypto exchange Rain first to secure licence in the Middle East
  • Pedro Gonçalves
  • @PeterHSG
  • 01 August 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Bahrain-based cryptocurrency exchange Rain has become the Middle East's first exchange to receive a regulatory license.

Rain received a Crypto-Asset Module (CRA) license following a two-year regulatory sandbox process per a statement from the exchange. Both the first project and graduate under the Central Bank of Bahrain's (CBB) sandbox program, Rain is looking to fill a gap in the Middle East's digital asset market.

Related articles

  • Shariah-compliant crypto exchange Rain graduates from Bahrain sandbox
  • Bahrain's digital currency exchange Rain eyes GCC launch next year
  • Bahrain to reach 100 fintech firms by the end of the year
  • Bahrain issues draft rules to regulate cryptocurrencies

It is the first cryptocurrency exchange to earn a regulatory licence in the Middle East and joins an elite group of exchanges internationally, a statement said.

As the first licensed cryptocurrency exchange in the Middle East, Rain has an unprecedented opportunity to tap into the incredible potential that cryptocurrency trading will bring to the region"

The license came the same week Rain announced successful closure of a $2.5m funding round backed by partners including the VC arm of crypto derivatives giant BitMEX.

Arthur Hayes, BitMex co-founder and CEO, said: "As the first licensed cryptocurrency exchange in the Middle East, Rain has an unprecedented opportunity to tap into the incredible potential that cryptocurrency trading will bring to the region.

"We believe that Rain will bring greater diversification to Middle-Eastern traders with its exchange offering and experienced team, and we are thrilled to contribute to this defining moment."

Rain added that it has also added cryptocurrency heavyweights Jimmy Song, Mike Komarnsky, founder of Cumberland Mining, Aaron Lasher and Aaron Voisine, co-founders of BRD, formerly Breadwallet as investors.

The crypto exchange plans to expand its team to meet growing customer support and engineering needs, as well as invest in new technology.

Central banks continue to set the pace for fintech development in the Middle East with Iran recently looking to green-light crypto mining. In December, the National Bank of Kuwait partnered with Ripple for a remittance service, NBK Direct Remit, as a pilot program between Kuwait and Jordan.

 

Subscribe to International Investment's free, twice-daily, newsletter

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Fintech
  • Emerging Markets
  • Cryptocurrencies
  • Middle East
  • Central Bank of Bahrain
  • CBB
  • Rain
  • Bahrain
  • Crypto

More on Fintech

Emerging markets funds 'in the vanguard' of ESG investing over next five years

  • ESG
  • 17 February 2021
Comment: Tesla, Bitcoin and the implications for the funds industry

  • Comment
  • 11 February 2021
Comment: A moment in emerging markets as risk premium returns

  • Comment
  • 04 February 2021
Australia's Milestone Group launches Asia-Pacific institutional asset solution

  • Fintech
  • 02 February 2021
Blockchain offers 'burgeoning' investor opportunities, finds Invesco report

  • Fintech
  • 01 February 2021
Back to Top

Most read

Merian funds to be renamed under Jupiter banner
Merian funds to be renamed under Jupiter banner
Jersey regulator fines three firms for breaching money laundering rules
Jersey regulator fines three firms for breaching money laundering rules
Comment: The pandemic has dramatically complicated issues of tax residency
Comment: The pandemic has dramatically complicated issues of tax residency
RL360 parent IFGL in top level management restructure
RL360 parent IFGL in top level management restructure
HSBC Singapore CEO to leave for Saudi British Bank
HSBC Singapore CEO to leave for Saudi British Bank
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading