Rain, a regulated crypto-asset platform in the Middle East, has reached a regional milestone after its Dubai entity, Rain MENA FZE, received In-Principle Approval (IPA) from the Virtual Assets Regulatory Authority (VARA). The approval covers Exchange Services, Broker-Dealer Services, and Margin Trading, marking Rain’s official entry into the Dubai market under its dedicated regulatory framework.
A unified regulatory landscape
The granting of the VARA IPA is strategically critical as it completes Rain’s licensing footprint across the Gulf Cooperation Council (GCC). Rain is now the only crypto-asset platform to hold a full set of regulatory licenses and approvals from all three major financial hubs in the region:
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Central Bank of Bahrain (CBB)
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Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA)
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Virtual Assets Regulatory Authority (VARA) in Dubai.
This multi-jurisdictional standing allows Rain to offer a cohesive, trusted experience for customers operating throughout the region on a single platform.
Expanding service capabilities
The IPA permits Rain MENA FZE to move toward a full operational license and begin preparations for launching its exchange and broker-dealer services in Dubai. Notably, the approval also positions the firm to introduce margin trading, significantly expanding the range of sophisticated financial products available to its regional user base.
“Regulation is the foundation of trust in this industry,” said Laurent Girouille, director of Rain MENA FZE. “Holding every current GCC license with CBB, FSRA, and now VARA is a direct result of the standards we have built into Rain. It means our customers can operate across the region on a single, trusted platform”.
A regional powerhouse
Founded in 2017, Rain has established itself as the leading GCC-based crypto brokerage and custodian. Since its inception, the platform has:
- Grown its user base to over 2 million individuals.
- Processed more than $11billion in total trading volume.
- Expanded its regulatory reach beyond the GCC, including registration with MASAK in Turkey.
The move into Dubai is the latest step in Rain’s mission to provide regulated, institutional-grade infrastructure for digital assets in the Middle East. As the firm satisfies VARA’s remaining conditions to move from in-principle to a full operational license, it remains a central player in the region’s evolving digital economy.
The post Rain Secures VARA IPA to Complete Full GCC Regulatory Footprint appeared first on The Fintech Times.
