Rain Receives VARA IPA for Exchange, Broker-Dealer and Margin Trading Services

Rain, the leading regulated crypto-asset platform in the Middle East, today announced that its Dubai entity, Rain MENA FZE, has received In-Principle Approval (IPA) from the Virtual Assets Regulatory Authority (VARA) for Exchange Services, Broker-Dealer Services, and Margin Trading. The approval marks Rain's entry into the Dubai market under VARA's regulatory framework and completes its GCC licensing footprint.

With the VARA IPA, Rain now holds the full set of regulatory licenses available to a crypto-asset platform in the GCC: the Central Bank of Bahrain (CBB), the Abu Dhabi Global Market's Financial Services Regulatory Authority (ADGM FSRA), and VARA in Dubai.

The IPA permits Rain MENA FZE to progress towards a full VARA licence and begin operational readiness for Exchange Services, Broker-Dealer Services, and Margin Trading in Dubai, subject to satisfying VARA's remaining conditions. The approval also positions Rain to offer margin trading services in Dubai, expanding the range of products available to its regional customer base.

“Regulation is the foundation of trust in this industry. Holding every current GCC license with CBB, FSRA, and now VARA is a direct result of the standards we have built into Rain. It means our customers can operate across the region on a single, trusted platform.”

— Laurent Girouille, Director  - Rain Mena FZE

About Rain

• Rain is the leading GCC based crypto brokerage and custodian and was founded in 2017

• Rain is licensed by the Central Bank of Bahrain(CBB), Abu Dhabi Global Markets(FSRA), registered with MASAK(Turkey), and more jurisdictions coming soon

• Rain has over 2 million users

• Rain has processed over $11B in volume since inception

Media Contact

Rain Communications

ahmed.samra@rain.com

www.rain.com