Middle East-based crypto-asset platform Rain announced that its Dubai entity, Rain MENA FZE, has received In-Principle Approval (IPA) from Dubai’s Virtual Assets Regulatory Authority (VARA). The approval, which covers Exchange, Broker-Dealer, and Margin Trading services, marks a significant step for the company as it enters the Dubai market and finalizes its licensing across the GCC.
Quick Facts
- Approval: Received In-Principle Approval (IPA) from Dubai’s VARA.
- Services: Covers exchange, broker-dealer, and margin trading.
- Milestone: Completes Rain’s full GCC licensing footprint.
A Trifecta of Regional Licenses
With the VARA IPA, Rain now holds approvals from all three major crypto-asset regulators in the GCC. This includes its existing licenses from the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market’s Financial Services Regulatory Authority (ADGM FSRA).
This full set of regional licenses allows Rain to operate across key markets on a unified platform, strengthening its position as a regulated player in the Middle East’s digital asset space.
“Regulation is the foundation of trust in this industry,” said Laurent Girouille, Director at 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.”
Expanding Product Suite in Dubai
The IPA permits Rain to move towards a full VARA license and prepare for operational launch in Dubai. The approval is subject to meeting VARA’s remaining conditions.
Critically, the move also positions Rain to offer margin trading services in Dubai, expanding the range of products available to its customer base in the UAE and the wider region.
About Rain
Founded in 2017, Rain is a leading GCC-based crypto brokerage and custodian. The company is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Markets (FSRA) and is registered with MASAK in Turkey. Rain serves over 2 million users and has processed more than $11 billion in transaction volume since its inception.
Source: Zawya
