The Bittrex crypto exchange announced that it will be partnering with Rain Management WLL (Rain), which will be the first fully licensed crypto trading platform to operate in the Middle East and North Africa (MENA) region.
Through the collaboration, Rain’s team of trading experts from the MENA region will be combined with Bittrex’s enhanced security and trading technology.
Through this, Rain will be able to offer all the cryptocurrencies and digital tokens supported on the Bittrex and Bittrex International platforms, to MENA-based clients.
Rain also supports a number of Middle Eastern currencies which are traded against Bitcoins, including BHD/BTC, SAR/BTC, AED/BTC, and KWD/BTC.
Rain is licensed by the Crypto-Asset (CRA) legal framework of the Central Bank of Bahrain (CBB), after two years of being part of Bahrain Central Bank’s blockchain sandbox program.
The BitMex-funded Rain is the first licensed crypto exchange platform that is allowed to operate in the Middle East.
“Rain could not be more excited to establish a partnership with one of the most liquid and trusted cryptocurrency exchanges in the world, Bittrex,” stated the Rain executive team.
“Together, Rain and Bittrex can help bring international standards to the MENA region in terms of pricing, fees, and selection of cryptocurrencies. Rain’s mission is to build a top cryptocurrency exchange headquartered in the Middle East, and Bittrex is now fully committed to helping us fulfill this mission.”
The CEO of Bittrex, Bill Shihara, also made a comment regarding the partnership:
“Our global partner network is key to driving blockchain awareness and adoption.”
“Launching the first fully licensed platform in the region is an outstanding accomplishment by the Rain team and we are very proud to partner with them as they bring blockchain to an underserved marketplace with great potential. I could not think of a better way for Bittrex to enter the MENA region and continue to expand our global footprint.”
Featured Image: Kinesis Money