Rain (cryptocurrency)

Rain Financial is a Bahrain-based cryptocurrency exchange, which was founded in 2016. It acquired the Crypto-Asset Module (CRA) license from the Central Bank of Bahrain, making it the first and only licensed crypto exchange in the Middle East.[1][2]

## Overview

The crypto exchange was founded by co-founders Yehia Badawy, Abdullah Almoaiqel, AJ Nelson, and Joseph Dallago.[3][4] The exchange launched after raising $2.5 million in seed funding.[5][6] Rain allows users in Bahrain, United Arab Emirates, Saudi Arabia, Kuwait, and Oman to buy, sell and store Bitcoin, Ethereum, Litecoin, and Ripple using their bank accounts, debit cards or credit cards.[6]

## References

1. ↑ "Bahrain-Based Cryptocurrency Exchange Rain Gears Up For 2019 Launch". Forbes. October 14, 2018. https://www.forbesmiddleeast.com/bahrain-based-cryptocurrency-exchange-rain-gears-up-for-2019-launch.
2. ↑ Townsend, Sarah (October 10, 2018). "Bahraini cryptocurrency exchange eyes GCC launch in 2019". The National. https://www.thenational.ae/business/technology/bahraini-cryptocurrency-exchange-eyes-gcc-launch-in-2019-1.778877.
3. ↑ "Bahrain crypto exchange Rain secures MidEast's first license". Arabian Business. https://www.arabianbusiness.com/banking-finance/425079-bahrain-crypto-exchange-rain-secures-mideasts-first-licence.
4. ↑ "Middle East’s first licensed crypto exchange closes a seed round of $2.5 million". Saudi Gazette. July 31, 2019. http://www.saudigazette.com.sa/article/573656/BUSINESS/Middle-Easts-first-licensed-crypto-exchange-closes-a-seed-round-of-$25-million.
5. ↑ Duman, Ipek (August 1, 2019). "Cryptocurrency Exchange Rain Granted License in Bahrain » Bitcoin...". https://bitcoinmagazine.com/articles/cryptocurrency-exchange-rain-granted-license-bahrains-central-bank.
6. ↑ 6.0 6.1 "Bahrain's Rain closes $2.5 million seed round, becomes first licensed cryptocurrency exchange in the Middle East". July 31, 2019. https://www.menabytes.com/rain-seed/.

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