Bittrex, a chief cryptocurrency exchange, has collaborated with Rain management WLL in efforts to reach out to consumers in the Middle East and Africa. The two have conjointly launched a licensed trading platform for a digital asset that aims at providing their services to customers in the North Africa region and the middle east.
Situated in Bahrain, Rain is a crypto exchange with immense experience and expertise in the crypto industry.it has an extensive reach in the region of MENA. The announcement was made on the 31st of July by Bittrex that said the two companies were henceforth going to join forces and efforts in so far as technology and security infrastructure of Bittrex and Rain’s expertise in the region were concerned.
The much-celebrated partnership will provide a great trading platform. Its reach to the North African and Middle East regions is very much welcomed by consumers from that end of the world. The platform will allow its users to trade and invest in all digital assets that are available on Bittrex AND Bittrex international. The partnership will also boost the standing of Rain as a significant player in the crypto industry in the region as it will be the facilitator of the most significant diversity of digital assets for MENA cryptocurrency traders and investors.
The new platform will offer BTC trading pairs for local fiat currencies in the Mena region alongside Bittrex and Bittrex International digital assets. This will include the following pairs BHD/BTC(Bahraini Dinar), SAR/BTC(Saudi Riyal), AED/BTC (United Arab Emirates dirham) and KWD/BTC (Kuwaiti dinar).
Fully licensed platform
The new platform will serve the target region MENA as a fully licensed to operate the platform. Rain is actively involved in the regulatory sandbox regulated by the central bank of Bahrain and operates under established legal frameworks for crypto exchanges by the central bank of Bahrain.
The executives of Rain opine that the relation and partnership of the two companies will significantly avail the people of the Middle East an international awareness and support as far as digital assets are concerned. They fully have faith that Bittrex liquidity and trust is advantageous and will, in the end, allow their customers in the MENA region to access improved and international standard type cryptocurrency prices and charges along with many more kinds of digital assets.
The MENA region has in the recent past received considerable attention as far as the crypto industry is involved. Not so long ago; the Dubai Chamber of Commerce and Industry entered and signed a deal with Perlin to expedite the adoption of blockchain in the MENA region. Perlin is a blockchain company, a startup situated in Singapore
The CEO of Bittrex states that the MENA region, despite its potential consumer base is a region that is highly and insufficiently served .he says that the part can be an attractive market for digital assets and has the due potential for the crypto industry of the area. Bill opines that the partnership is by far the strategic move to initiate the process and revitalize the crypto industry in the region. Rain and its operations are at the discretion of the banking compliance standards. These are capital reserve requirements and cybersecurity requirements set down by the central bank of Bahrain, CBB. The partnership has an overall aim of increasing the company’s global outreach and footprint. The MENA region has a market for digital assets that remains untapped. The potential of the crypto industry booming in the area is unprecedented and what remains is the question of who will tap this vast potential. The partnership between Bitrexx and Rain, two renowned crypto exchange companies is an excellent step towards the initiation of the tapping of the MENA region.