By Bittrex one of the most popular exchanges globally has just announced their partnership with Custodian provider and crypto exchange Rain Management WLL to spread their wings across the Middle East and North Africa (MENA) region. The new joint venture will combine Rain’s team of trading maestro’s with experience in the MENA region and Bittrex’s high tech trading system and cutting edge security.
The new partnership gives Rain access to all of the tokens that are trading now on Bittrex and Bittrex International, thus customers in the MENA region have access to the largest selection of digital assets in the world. Apart from this, the exchange will also boast Bitcoin pairs in four different local fiat currencies which are: the Bahraini dinar, the Kuwaiti dinar, the United Arab Emirates dirham and the Saudi riyal.
First Licensed exchange in the middle east
Rain had previously participated in the Bahrain Central Bank’s Blockchain sandbox initiative and currently operates within the legal framework of Crypto-Asset (CRA) issued by the Central Bank of Bahrain (CBB). This is the first-ever licensed digital asset trading platform in the Middle East and has been working for three years now to promote blockchain technology.
The Rain executive team, in a joint statement, manifested their excitement about the latest partnerships stating:
“Rain could not be more excited to establish a partnership with one of the most liquid and trusted cryptocurrency exchanges in the world, Bittrex, Together, Rain and Bittrex can help bring international standards to the MENA region in terms of pricing, fees, and selection of cryptocurrencies. Rain’s mission is to build a top cryptocurrency exchange headquartered in the Middle East, and Bittrex is now fully committed to helping us fulfill this mission.”
Bill Shihara, CEO of Bittrex commented on the partnership:
“Launching the first fully licensed platform in the region is an outstanding accomplishment by the Rain team and we are very proud to partner with them as they bring blockchain to an underserved marketplace with great potential. I could not think of a better way for Bittrex to enter the MENA region and continue to expand our global footprint.” At present, Bittrex’s 24-hour trading volume is $30,297,332 USD, as per data from CoinmarketCap.
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