Crypto Exchange Rain To Target UAE Asset Managers
Rain, a Middle Eastern cryptocurrency exchange, announced on Tuesday that its Abu Dhabi branch has been granted a licence to provide virtual asset brokerage and custody services to clients in the United Arab Emirates.
Rain, based in Bahrain and funded by Coinbase, said that its company in the Abu Dhabi Global Market financial freezone will now allow institutional and some retail clients in the UAE to buy, sell, and store virtual assets.
Rain will also be able to open a bank account in the UAE and allow clients to fund their own accounts when utilising the local payment network, according to co-founder Yehia Badawy in an interview on Tuesday.
(With inputs from Shikha Singh)
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