(Manama, Kingdom of Bahrain): Bahrain FinTech Bay, one of the leading FinTech hubs in the Middle East and North Africa, and Rain, the first licensed crypto asset service provider in the Middle East by the Central Bank of Bahrain, announced the signing of a partnership agreement aimed at continuing success in the crypto-asset sector by supporting the future of finance in the region.
In line with Rain’s commitment to providing a trusted platform for all current and future cryptocurrency clients, a range of initiatives will be launched, including an event on cryptocurrency in August, as well as educational workshops, where opportunities will be available be for anyone interested in the blockchain field (Blockchain) and cryptocurrency. This new partnership will also improve Rain’s communication with new and interested users in the cryptocurrency field in the Kingdom of Bahrain.
It is noteworthy that Rain began his journey in Bahrain by working closely with the Central Bank of Bahrain, in addition to a number of other institutions, such as the Bahrain Economic Development Board and Bahrain FinTech Bay. Rain has been invited to join the CBB’s beta regulatory environment as the first crypto-asset platform to join this virtual space, marking a historic moment for the Wolrain sector, which is the first licensed crypto-asset firm in the Middle East.
Four years later, Rain became one of the most successful institutions in the financial services sector in the Kingdom and gained great popularity in the crypto-currency sector in the MENA region. The platform expanded rapidly thanks to its highly skilled and experienced staff, which enabled it to generate $ 1 billion in trading volume last year. In early 2022, Rain announced that it had secured $ 110 million in funding in its second funding cycle (Finance Series B), in which several parties participated.
In addition, this partnership between Bahrain FinTech Bay and Rain will play a key role in supporting Bahrain to achieve the goals of the Kingdom’s Economic Vision 2030. Bahrain FinTech Bay embraces a wide range of active players in the ecosystem, with more than 120 local and regional partners, including government agencies, financial institutions, corporate, consulting firms, universities, associations, venture capital and Fintech startups. In the span of a few years since its inception, Bahrain FinTech Bay has incubated more than 90 influential FinTech institutions and startups, supporting 120 startups through its own accelerator programs.
On this occasion, Mr. Rain co-founder Joseph Dallago said: “We share a united vision with Bahrain Fintech Bay, and our continued partnership will propel the Middle East into a new cryptocurrency economy. This collaboration will enable us to continue. to play a role in raising awareness of the great potential of cryptocurrency to transform finances globally.The Middle East is one of the fastest growing markets for cryptocurrencies in the world, with growing awareness that it will be one of the pillars of the economy of the future. We are proud to be part of this transformation, and we will continue to pave the way for generations.
For his part, Mr. Bahader Sater, CEO of Bahrain FinTech Bay said: “We are pleased to partner with the first licensed crypto exchange in the Middle East. This partnership will enable Rain to gain access to a wide range of opportunities,” which establishes its position as one of the leading cryptocurrency exchanges in the Middle East, our founding partnership with Rain enables us to realize our shared vision of building an accessible financial system.The Kingdom of Bahrain was able to take remarkable steps towards a secure and regulated cryptocurrency sector, and we want to contribute even more to this journey. “
About Bahrain FinTech Bay:
Bahrain FinTech Bay is one of the leading FinTech hubs in the Middle East, and seeks to support the development, interaction and acceleration of the FinTech ecosystem. Bahrain FinTech Bay embraces impactful and scalable FinTech initiatives through innovation labs, accelerator programs, coordinated activities, educational opportunities and collaborative platforms. Bahrain FinTech Bay has partnerships in place with government agencies, financial institutions, corporations, consulting firms, universities, associations, venture capital and FinTech start-ups, with the aim of bringing all market participants together.
To find out more, please visit the website: (www.bahrainfintechbay.com).
– is over –
Rain is a Middle Eastern cryptocurrency exchange headquartered in the Kingdom of Bahrain. We are a company authorized and regulated by the Central Bank of Bahrain. Rain is one of the most trusted and best cryptocurrencies in the Middle East and Turkey, and it allows you to use cryptocurrencies like Bitcoin, Litecoin, Ethereum, XRP, USDT, etc. buy, store it in your safe wallet and sell it safely. whenever you want. You can also use your bank account to easily buy cryptocurrencies through this easy-to-use app.
For more information, please visit: https://www.rain.bh/ ()