Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

BitMEX Backs First Fully Regulated Crypto Exchange in Bahrain

by Daily Hodl Staff
July 31, 2019
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
‎‎‎ ‏‏‎

Bahrain-based digital asset exchange Rain has acquired a crypto-asset module (CRA) license from the Central Bank of Bahrain, according to a press release shared with The Daily Hodl. 

Rain is one of the first licensed crypto-asset exchanges in the Middle East. It’s backed by investments from Kuwaiti crypto fund Blockwater and BitMEX Ventures, the venture capital arm of the leading crypto derivatives platform, Bitcoin Mercantile Exchange. 

As noted in the release, Rain is live today for cryptocurrency traders after the exchange’s management received the Middle East’s first “full regulatory license” and closed a $2.5 million seed round co-led by BitMEX Ventures. 

In early 2017, Rain’s representatives held discussions with senior members of Bahrain’s central bank regarding plans to launch a compliant digital asset exchange. Soon after the meeting, Rain entered the bank’s regulatory sandbox program, which involved creating appropriate guidelines for offering crypto trading services. 

In addition to obtaining regulatory clearance and funding from BitMEX Ventures, the developers of Rain have received financial support from Vision Ventures, a Saudi Arabia-based early-stage investment firm. Taibah Valley and 500 Startups MENA also participated in Rain’s investment round.

Other notable investors that took part in Rain’s funding round include Cumberland Mining founder Mike Komarnsky, and Aaron Lasher and Aaron Voisine, the co-founders of BRD (previously known as Bread wallet).

Says BitMEX co-founder and CEO Arthur Hayes,

“BitMEX Ventures is devoted to encouraging greater global access to cryptocurrency trading as we start to see the maturation of cryptocurrencies as a legitimate asset class… Rain has an unprecedented opportunity to tap into the incredible potential that cryptocurrency trading will bring to the region.” 

Hayes adds that Rain will bring “greater diversification” to the Middle East’s financial industry with its regulated crypto exchange platform and experienced team members. 

Rain was founded in 2016 by computer science graduate Abdullah Almoaiqel, former Abra employee AJ Nelson, Joseph Dallago and Yehia Badawy. The company is planning to expand its line of products and services, and will reportedly hire additional team members in order to support the platform’s ongoing growth and development.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro Adds Chainlink and Uniswap Amid Investor Surge for Crypto
    April 19, 2021
  • TeraBlock Secures $2.4 Million to Build a Newbie-Friendly Crypto Exchange Powered by Machine Learning
    April 19, 2021
  • BlockSwap Network Announces Balancer LBP and Uniswap LP Incentive
    April 19, 2021
  • Raze Network Completes Triple IDO and Balancer LBP Event
    April 19, 2021
  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$55,500.00
$55,500.00
2.29%
Ethereum
$2,157.55
$2,157.55
3.88%
Binance Coin
$502.16
$502.16
4.34%
XRP
$1.28
$1.28
9.38%
Polkadot
$33.66
$33.66
8.65%
Cardano
$1.19
$1.19
5.79%

Spotlight

  • Coinbase Listing To Lift Crypto Space to Greater Heights: CoinShares CSO Meltem Demirors
    April 15, 2021
  • Trader Who Predicted Bitcoin Crash Says Epic Bounce to $70,000 Imminent
    April 19, 2021
  • Criminals Are Abandoning Bitcoin, Says Former CIA Director – Here’s Why
    April 16, 2021
  • Bitcoin Charging to $120,000, Says Veteran Trader Tone Vays – Here’s When
    April 13, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×