New Regulated Crypto Exchange In Middle East Opens

cryptowarrior88 (59)in #cryptocurrency • 5 years ago

A new regulated cryptocurrency exchange opens in Middle East following a $2.5 Million funding round co-led by BitMEX Ventures, the venture capital firm of BitMex derivatives platform.

Dubbed as Rain cryptocurrency Exchange, is the first project and graduate under the Central Bank of Bahrain’s (CBB) sandbox program which has received a Crypto-Asset Module (CRA) license.

The newly licensed exchange is backed by one of the most prominent names in the cryptocurrency ecosystem such as Bitcoin enthusiast Jimmy Song, Cumberland Mining’s Mike Komarsky, BitMEX ventures, Kuwaiti cryptocurrency fund Blockwater and co-founders of BreadWallet Aaron Lasher and Aoron Voisine.

According to BitMEX’s CEO Arthur Hayes as the first fully license crypto exchange in the Middle East, Rain has an unprecedented opportunity to tap into the incredible potential that cryptocurrency trading will brin to the region.

The institutional adoption and acceptance in the Middle East begins to accelerate as many countries hae already put into effect clear and friendly regulatory framework for the nascent industry.