Rain Financial was set up in 2017 and received a licence to operate as a crypto-asset brokerage by Bahrain s central bank in 2019. The company offers its customers a way to buy and sell digital currencies as well as custodian services to hold their assets.
Interest in digital currencies is picking up again as the price of Bitcoin, the biggest cryptocurrency by market value, has soared. Although it was trading 6.3 per cent lower at 7.04pm on the Bitstamp exchange on Sunday at $34,852.52, it has witnessed a near-fourfold increase in value over the past 12 months. One Bitcoin now trades at 19-times the dollar price of gold per ounce, down from a record of 21.6x at the end of last week.