Tarabut Gateway partners with Rain to enable fiat-to-crypto transactions via bank transfer

Tarabut Gateway partners with Rain to enable fiat-to-crypto transactions via bank transfer

Tarabut Gateway, the open banking platform operating across the Middle East, has partnered with Rain. The result of this collaboration is faster, cost-effective fiat-to-crypto transactions for Rain’s Bahrain end-users and enable funding payments directly from user bank accounts without the need to leave the platform. The partnership is the company’s first collaboration with a crypto asset service provider.

The new feature will utilise Tarabut Gateway’s open banking payment solutions to facilitate on and off-ramp (fiat-crypto-fiat) transfers for users, dramatically increasing speed and reducing errors associated with traditional bank wire transfers. The introduction of this new feature is in line with Rain’s strategy to provide the most premium and seamless crypto wallet experience for its MENA users.

Abdulla Almoayed, Founder and CEO of Tarabut Gateway, said, “Our partnership with Rain is a perfect cross-sector synergy, made possible by Bahrain’s advanced open banking ecosystem. Crypto trading, wallets, and other blockchain use cases are natural allies in opening up traditional banking and finance. We are proud to partner with Rain to provide a user-focused approach to crypto services by bringing the advantages of open banking digital solutions.”