Middle East crypto exchange Rain secures $6m in funding

19 January, 2021 12:00 AM printer

BAHRAIN: Rain Financial, operator of the Rain cryptocurrency exchange licensed by the Central Bank of Bahrain, secured $6 million in funding in a round led by Middle East Venture Partners.

The company also received backing from US-based Coinbase, one of the world’s biggest cryptocurrency exchanges, Vision Ventures, CMT Digital Ventures, Abdul Latif Jameel FinTech Ventures, and the Dubai International Financial Centre’s FinTech Fund, according to a statement issued on Sunday, report agencies.

“We are confident that our investors, who are regional and international leaders, will support us as we continue to drive towards our vision of reaching mass adoption of crypto-assets,” the company’s four co-founders Abdullah Almoaiqel, AJ Nelson, Joseph Dallago and Yehia Badawy, said in a joint statement.