New Middle East Centric Crypto Platform Launches by Bittrex with Rain Management Partnership

As many of our regular readers may already be aware of, the Dubai Chamber of Commerce and Industry (DCCI) recently signed an MoU with blockchain firm ‘Perlin’ as well as the ICC (International Chamber of Commerce). As per the terms of the MoU, DCCI has exclusive rights when it comes to blockchain related tech deployment within the MENA region.

  • Rain Management WLL released a statement earlier today claiming to have become the first and only cryptocurrency exchange in the Middle East to have received a regulatory license from Bahrain’s central banking authority — the CBB.
  • As things stand, Bittrex’s 24-hour tx volume lays around the $32 million mark.

According to an all-new announcement made by the folks over at Bittrex, the crypto trading platform is all set to partner with Bahrain-based crypto exchange/custodian provider Rain Management WLL so as to release an all-new crypto trading service for people living in the MENA region (the Middle East and North Africa).

It is being reported that the above-mentioned platform will offer its users with all of the assets that are currently available on Bittrex and Bittrex International. In addition to this, the platform will also offer investors with an additional four more Bitcoin (BTC) trading pairs — Bahraini dinar, the Kuwaiti dinar, the United Arab Emirates dirham and the Saudi riyal.

The offering in question is being pegged as a first of its kind in the MENA region. This is in part because Rain was part of Bahrain’s regulatory sandbox that was launched earlier this year in February.

As things stand, Rain makes use of a crypto-asset legal framework that has been devised by the Central Bank of Bahrain (CBB).

A number of experts believe that this latest partnership between Rain and Bittrex will help drive blockchain adoption all over the globe.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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