Abu Dhabi regulator approves Rain to provide crypto services
The government in Abu Dhabi gave permission to a trading company called Rain to offer cryptocurrency services to people in the country.
This means that residents can use Rain to buy, sell, trade, and store virtual assets. The company worked for five years to get this approval and is now partnering with a local bank to provide these services safely.
Before this, another company called Binance also received permission to do similar things in Abu Dhabi. Rain’s main focus is to offer crypto services to people in the Middle East and Turkey, and their main office is in Bahrain.
However, it’s vital to note that not all companies got approved. Another platform called Open Exchange received notices from Dubai’s authorities, and BitOasis had its license suspended in July.
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