Mubasher: Bahrain-based cryptocurrency exchange, Rain, has acquired the Crypto-Asset Module (CRA) license from the Central Bank of Bahrain (CBB) and closed a seed round of $2.5 million.
As per a statement released on Wednesday, Rain’s aim is to deliver easier and more reliable access to cryptocurrency across the region.
Rain’s investment round was co-led by BitMEX Ventures and Kuwait-based cryptocurrency fund, Blackwater.
“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,” BitMEX Co-Founder and CEO, Arthur Hayes, commented.
Rain is the Middle East’s first cryptocurrency exchange to earn a regulatory license.
