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

  • 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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