Rain granted financial services permission by ADGM’s Financial Services Regulatory Authority

Rain granted financial services permission by ADGM’s Financial Services Regulatory Authority

Abu Dhabi, United Arab Emirates: Rain Trading Limited (Rain ADGM) has been granted a Financial Services Permission (FSP) by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA) to operate a regulated virtual assets brokerage and custody service in the ADGM. The FSP will cement Rain’s position as one of the leading regulated virtual assets trading platforms in the region. Its affiliate, Rain Management W.L.L., based in Bahrain, became the first licensed virtual assets service provider in the Middle East in 2019 and is regulated by the Central Bank of Bahrain.

Rain ADGM will offer institutional and a number of retail clients in the UAE the ability to buy, sell and store virtual assets, in addition to having a seamless fiat-to-virtual asset onramp in AED. Rain has established itself across the Middle East and Turkey as a trusted and secure platform through the fundamental belief in the regulation of the virtual assets industry.

ADGM became the global pioneer in adopting virtual assets regulation by developing the first virtual assets regulatory framework in 2018 and is a leading global hub and business platform for virtual asset activities for local, regional and international firms. ADGM’s virtual assets framework is globally recognized as being