The deal gives Rain access to all cryptocurrencies and digital tokens available on both the Bittrex and Bittrex International platforms and will offer MENA customers a vast choice of digital assets in the world to trade in.
According to Bittrex CEO Bill Shihara, “Our global partner network is key to driving blockchain awareness and adoption. Launching the first fully licensed platform in the region is an outstanding accomplishment by the Rain team and we are very proud to partner with them as they bring blockchain to an underserved marketplace with great potential. I could not think of a better way for Bittrex to enter the MENA region and continue to expand our global footprint.”
The new platform offers multiple Middle Eastern currency/BTC pairs including BHD/BTC, SAR/BTC, AED/BTC and KWD/BTC.
Rain, a licensed digital asset trading platform in the Middle East, has been working with regulators in the region for the past three years to help drive adoption of blockchain innovation in Bahrain and the broader MENA region.
The platform previously took part in the Bahrain Central Bank’s blockchain sandbox initiative and now operates within the Crypto-Asset (CRA) legal framework established by the Central Bank of Bahrain (CBB).
“Rain could not be more excited to establish a partnership with one of the most liquid and trusted cryptocurrency exchanges in the world, Bittrex,” said the Rain executive team in a joint statement. “Together, Rain and Bittrex can help bring international standards to the MENA region in terms of pricing, fees, and selection of cryptocurrencies. Rain’s mission is to build a top cryptocurrency exchange headquartered in the Middle East, and Bittrex is now fully committed to helping us fulfill this mission.”