Bahrain Crypto Exchange-Rain Surpasses $1bn Trading In H1

Bahrain Crypto Exchange Rain Surpasses $1bn Trading In h1

Rain is the first crypto-resource service provider authorized by the Central Bank of Bahrain. It has reported more than $1 billion in exchanging volume during the primary portion of 2021.

The platform’s exchanging volume saw twenty times growth in the initial half-year of 2021. This is Contrasting with a similar period last year. The growth was driven by the expanded familiarity with the digital currency industry and the change in outlook among financial backers.

In spite of the beginning of Covid-19, the platform developed its user base by nine multiple times in the principal half of 2020. This contrasted with a similar time of 2019, with more than 100,000 active clients today. Rain Management said it had expanded its group to 105 representatives. Zeroing in on client support, activities, and innovation to satisfy the current need.

Rain’s director, Joseph Dallago, said: “We’ve always recognised the unique position of the Middle East and its untapped market. 2020 expedited digital adoption in the region that surely had a positive effect on our growth. We are excited to see the mass adoption of cryptocurrencies by governments and consumers.”

The Rise of Rain

Rain has raised $6 million in January, subsequent to getting backing from the largest exchange in the US, Coinbase Incorporated. It is an authorized digital currency platform and overseer trusted by many clients in more than 50 nations. Rain is authorized by the Central Bank of Bahrain (CBB) as a Crypto-Asset Brokerage. Most of the digital currency funds are put away offline in Rain’s exclusive Cold Storage framework. Rain has carried global standard pricing and fees to the Middle East, which has helped tremendously in the recent growth.

Established in 2016 by business visionaries Yehia Badawy, Abdullah Almoaiqel, AJ Nelson, and Dallago, Rain turned into the major digital currency exchange to procure a regulatory permit in the Middle East in 2019.

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A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.