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Trading volumes in Bahrain's cryptocurrency platform Rain cross $1bn mark thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
Bahrain s Bet On Fintech Advertisement Bahrain aims to make itself both a fintech incubator and a destination for providers based elsewhere to develop and launch their solutions. April 08, 2021 Developing a thriving fintech sector is a key component of Bahrain’s broader plan to move away from its traditional reliance on oil revenues. Earlier this year, this ambition received a boost in the form of a new partnership with FinTech Aviv, Israel’s fintech networking community, following moves toward the normalization of relations between the two countries. Moreover, encouraging fintech companies and entrepreneurs to locate in Bahrain has the support of Crown Prince Salman bin Hamad Al Khalifa, who took over as prime minister last November following the death of his deeply conservative great uncle. ....
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. ....
Coinbase Joins $6M Funding Round for Licensed Middle-East Exchange Rain Financial The $6 million Series A round was led by Middle-Eastern VC firm MEVP Capital. Bahrain Updated Jan 19, 2021 at 5:01 p.m. UTC Coinbase Joins $6M Funding Round for Licensed Middle-East Exchange Rain Financial Bahrain-based cryptocurrency exchange Rain Financial has raised $6 million in Series A funding from Coinbase and other investors. Rain Financial, the first cryptocurrency exchange with a crypto-asset service provider license from the Central Bank of Bahrain, announced the funding news via Twitter on Sunday. The $6 million funding round was led by Middle-Eastern VC firm MEVP Capital, with Coinbase, Vision Ventures, CMT Digital, Abdul Latif Jameel Fintech Ventures and DIFC also participating. ....
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