Bahrain-based Exchange to Launch Next Year

Bahrain-based Exchange to Launch Next Year

Rain Financial, the first-ever cryptocurrency exchange in the Middle East, has opened its public waiting list for next year’s roll-out

Rain intends to operate as an institutional platform and a brokerage firm. It was one of the primary participants in the Central Bank of Bahrain’s sandbox dedicated to fintech startups. It was co-founded by Abdullah Almoaiqel, a blockchain consultant in Saudi Arabia; and Yehia Badawy, an Egyptian investor-turned-meetup organizer.

Consumer Trust

Customer confidence, which the co-founders believe is the main issue that needs to be addressed within the industry. The exchange is set to tackle this head-on by partnering with two banks and integrating security checks and verification into their platform.

Investor Interest

Badawy has said the company, with its institutional-grade infrastructure, is there to meet the demand of interested investors who are anticipating the right partners and the right governmental regulations.

The budding exchange has garnered the attention of big-time investors; among them are Jimmy Song and Mike Komaransky (Cumberland Mining founder).

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