- Rain Management W.L.L reaches USD 1 Billion in trading volume during the first half of 2021
- Rain Management W.L.L has over 100,000 active users
Manama, Bahrain: Rain Management W.L.L, the leading cryptocurrency platform in the Middle East and the first licensed Crypto-asset Service Provider by the Central Bank of Bahrain, announced crossing USD 1 Billion in trading volume during the first half of 2021 alone.
The platform’s trading volume witnessed a 20X growth in the first half of 2021 compared to the same period last year due to the increased awareness of the cryptocurrency industry and the shift in mindset amongst investors in the region to reach USD 1 Billion, making it one of the highest trading volume by any crypto platform in the MENA region.
Despite the onset of COVID-19, the platform grew its userbase by 9X in the first half of 2020 compared to the same period of 2019 and 19X in 2021, with over 100,000 active users today.
To meet the current demand and provide customers with the highest level of service, Rain Management W.L.L grew its manpower to 105 employees focusing on customer service, operations and technology.
Highlighting the significance of the remarkable achievement, Rain’s Director, Joseph Dallago said: “We’ve always recognised the unique position of the Middle East and its untapped market, 2020 expedited digital adoption in the region that surely had a positive effect on our growth. We are excited to see the mass adoption of cryptocurrencies by governments and consumers”
He added: “Crossing USD 1 Billion in trading volume is indeed a key moment for us. It reflects the incredibly positive reception our platform has had in the region, being embraced by consumers and becoming the favorable choice they have been waiting for. This is just the beginning of our journey.”
As Rain Management W.L.L speeds into reaching its next milestone, its vision remains at the core of everything they do, to become the leading crypto-assets platform in the region, advancing the industry and giving users access to reliable crypto-assets.
About Rain Financial Inc.:
Rain Financial Inc. is the leading cryptocurrency group in MENA located in the US state of Delaware, it was founded in 2017 by four entrepreneurs, Abdullah Almoaiqel, AJ Nelson, Joseph Dallago, and Yehia Badawy. Rain Financial Inc.’s subsidiary, Rain Management W.L.L, based in Bahrain, became the first licensed crypto-asset service provider in the Middle East in 2019, upon receiving a Category 3 Crypto-Asset Service Provider license from the Central Bank of Bahrain.
About Rain Management W.L.L:
Rain Management W.L.L is a crypto-asset Service Provider in the Middle East, headquartered in the Kingdom of Bahrain. It is licensed and regulated by the Central Bank of Bahrain (CBB) as a Category 3 Crypto-Asset Service Provider. Rain Management enables customers to buy, sell, and store crypto-assets, in a regulated, secure, and compliant way. Customers located in Bahrain, Saudi Arabia, Kuwait, Oman and UAE can open an account through the Rain website www.rain.bh or Mobile App on iOS and Android.