Tarabut Gateway Partners with Rain to Provide Fast and Cost-effective Cryptocurrency Transactions

03/14/2023 11:13 • NFT Newsflash • 128 views

On March 14, it was reported that Tarabut Gateway had reached a cooperation with Rain, the MENA compliance crypto asset trading platform, to bring Bahrain end users faster and more cost-effective legal currency – cryptocurrency transactions, and to allow direct payment of funds from the user’s bank account without leaving Rain’s platform. Rain takes Tarabut as part of its strategy to provide seamless encrypted wallet experience for users in East and North Africa.

The crypto trading platform Rain uses Tarabut Gateway to provide access to legal currency

Analysis based on this information:

Tarabut Gateway, a Bahrain-based fintech company, recently announced their partnership with Rain, a cryptocurrency trading platform that focuses on the Middle East and North Africa (MENA) region. The collaboration aims to provide faster and more cost-effective legal currency – cryptocurrency transactions for end-users in Bahrain. Rain is committed to offering a seamless encrypted wallet experience for users in East and North Africa, and bringing Tarabut on board is a part of their long-term strategy.

According to the announcement, Rain users will be able to make direct payments for the purchase of cryptocurrencies from their bank accounts without having to leave the platform. This will be a significant upgrade as currently, most cryptocurrency transactions in the region require users to transfer money to a third-party platform and then initiate a separate transaction for the purchase of cryptocurrencies. This process is slow, cumbersome and often incurs additional costs.

The partnership between Tarabut Gateway and Rain will ensure that users in Bahrain have a more user-friendly experience on the Rain platform. It will also bring more users to Rain’s platform, which currently only supports Bitcoin and Ethereum. Tarabut Gateway’s extensive network in the MENA region will help Rain to expand its platform, increase its liquidity and add more tokens to their offerings.

Overall, this collaboration highlights the importance of regulation in the cryptocurrency space in MENA. Rain is one of the few cryptocurrency trading platforms in the region that have obtained a license from the Bahrain Central Bank. This partnership with Tarabut Gateway ensures that Rain continues to comply with the regulatory framework in Bahrain, thereby providing a safer and more secure platform for users.

In conclusion, this partnership between Rain and Tarabut Gateway is a significant step towards making cryptocurrency transactions more accessible and user-friendly in Bahrain. The collaboration demonstrates the growing interest in cryptocurrencies in the MENA region and highlights the importance of companies partnering together to address the challenges of the cryptocurrency market.

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