Bahrain-based crypto platform Rain has announced a partnership with BENEFIT, the Kingdom’s fintech and electronic financial services company. The integration makes Rain the first crypto platform in Bahrain to add BenefitPay as a direct, in-app payment method, allowing customers to purchase virtual assets instantly.
Quick Facts
- First crypto platform in Bahrain to integrate BenefitPay.
- Enables instant, 24/7 in-app virtual asset purchases.
- Strengthens Bahrain’s digital payment and virtual asset sectors.
Streamlining Crypto On-Ramps in Bahrain
This collaboration directly addresses a common point of friction for crypto users: the delay associated with moving money from traditional bank accounts to a crypto platform. By integrating BenefitPay, Rain leverages a network of commercial banks licensed by the Central Bank of Bahrain to offer instant and cost-effective transactions.
For Rain’s customers, this means they can now use a familiar and trusted local payment method to fund their accounts and purchase virtual assets around the clock, eliminating the waiting periods often linked to bank transfers.
“Being the first crypto platform to integrate BenefitPay is a milestone we are proud of and it means our customers can now use the payment method they already trust in their daily lives to purchase virtual assets instantly, at the lowest possible cost,” said Geoff Stecyk, General Manager Bahrain at Rain. “Unlike traditional financial markets, Rain operates 24/7 — and we are especially excited that BenefitPay’s 24/7 availability now matches that.”
A Strategic Push for Bahrain’s Digital Economy
The move highlights the growing connection between Bahrain’s established digital payment infrastructure and its regulated virtual assets sector. Leaders from both companies emphasized the partnership’s role in reinforcing the Kingdom’s status as a regional hub for financial innovation.
“Enabling BenefitPay as a payment method for Rain customers brings added convenience and speed to users seeking regulated access to virtual assets, while also highlighting the strength and adaptability of Bahrain’s financial infrastructure,” commented Abdulwahed AlJanahi, Chief Executive of BENEFIT. “This collaboration aligns with our broader efforts to further strengthen the Kingdom’s position as a leading regional financial hub for digital financial solutions and virtual assets.”
About Rain
Founded in 2017, Rain operates as a licensed virtual assets service provider. The Bahrain-based entity, Rain Management W.L.L, was the first crypto platform to be licensed in the Middle East by the Central Bank of Bahrain in 2019. Its ADGM entity became a fully licensed virtual assets broker and custodian under the Financial Services Regulatory Authority in 2023. The platform provides services to buy, sell, and store virtual assets.
About BENEFIT
The BENEFIT Company is a leading provider of digital payment services in the Kingdom of Bahrain, licensed by the Central Bank of Bahrain. It operates the BenefitPay e-wallet platform, which connects customers and merchants across Bahrain’s banking network.
Source: Zawya
