Rain operates a digital asset trading platform that enables users to buy, sell and store cryptocurrencies under the oversight of the Central Bank of Bahrain. After spending two years in the CBB’s regulatory sandbox, the company secured a full Crypto-Asset Module (CRA) license, becoming the first project to graduate from the program. Founded in 2018, Rain aims to close the regional gap in crypto on-ramps by offering a locally regulated alternative to offshore exchanges. The company intends to channel newly raised capital into further infrastructure development and key hires to strengthen its compliance and engineering teams. By positioning itself as a compliant gateway for Middle Eastern users, Rain hopes to capture growing demand for digital assets in the region. No revenue, user numbers or other operating metrics were disclosed in the article.

Total raised

$119M

Funding rounds

3

Latest round

Series B

Latest activity

Jan 2022