Rain has secured a full licence from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing its Dubai entity to provide virtual asset exchange and broker-dealer services, including margin trading.
The licence was issued to Rain MENA FZE, which previously held in-principle approval from VARA. Under Dubai’s two-stage framework, that approval allows a company to prepare for operations, while a full licence is required before it can serve customers.
Rain MENA FZE is now authorised to serve retail, qualified and institutional investors across its licensed activities, in line with VARA’s rulebooks.
The company said the licence makes Dubai a practical base for its regional ambitions. Laurent Girouille, director of Rain MENA FZE, said the platform has “global intent” and that Dubai is where this approach becomes practical.
Rain now holds licences from three GCC regulators. Alongside VARA, it is licensed by the Central Bank of Bahrain and the Financial Services Regulatory Authority of Abu Dhabi Global Market.
Source: Fintech News UAE
