Bittrex Announces New Partnership for Crypto Trading Platform in the Middle East and North Africa

Bittrex and Rain Management have come together to launch a new trading platforming. According to the announcement made on the 31st of July, the new digital assets trading platform will serve customers in the Middle East and North Africa (MENA).

Trading experts from Rain have vast experience in the MENA region. This experience, coupled with Bittrex’s trading technology and security, is the driving force behind this new partnership. The new alliance will give Rain access to Bittrex cryptocurrencies. Rain will access all the digital tokens on Bittrex international platforms as well. This means that MENA customers will now be able to trade in one of the largest selections of digital assets. 

New users in the MENA region can create a new account through Rain’s website. Thanks to the new partnership, users can choose from various Middle East currency/ bitcoin pairs. These pairs include SAR/BTC, KWD/BTC, AED/BTC, and BHD/BTC.

First Licensed Trading Platform in the Middle East

Rain Management is the first licensed crypto trading platform in the Middle East. Over the past three years, the platform has been working with key regulators in the region to spearhead the adoption of Blockchain technology. Bahrain has been the key area of interest, though they plan to drive the campaign to the broader MENA region.

Recently, Bahrain’s Central Bank held a blockchain sandbox initiative in which Rain participated. The initiative was launched in February 2019 to attract blockchain talent to Bahrain. This move was to offset the country's growing debt, following a slump in crude oil prices in 2014. 

Now, the trading platform operates within the Crypto-Asset legal framework per the regulations by the Central Bank of Bahrain.

New Partnership Will Bring International Blockchain Standards to MENA Region

In a joint statement with Bittrex, the Rain executives said that they were excited about the new partnership. They described Bittrex as 'one of the most liquid and trusted cryptocurrency exchanges in the world.'

They went on to say, “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.”

Bill Shihara, the CEO of Bittrex, added that attaining a global network was crucial in the campaign of blockchain awareness and adoption. He also expressed that the Bittrex team was proud of Rain because launching the first fully licensed platform in the MENA region was not a mere achievement. “I could not think of a better way for Bittrex to enter the MENA region and continue to expand our global footprint.”