фото показано с : blokt.com

Crypto investors are now becoming discerning when it comes to dealing with crypto exchanges and would rather pick one that is overseen by a government agency. Thankfully, investors in the Persian Gulf region will soon have a fully regulated crypto exchange in their midst — the Bahrain-based Rain Financial.

Rain Financial is set to become the first fully regulated cryptocurrency exchange in the Persian Gulf area. The exchange, which is based in Bahrain, started limited operations back in November 2017 as part of the Central Bank of Bahrain’s sandbox trial, according to a report by the ArabianBusiness.com. After almost a year in the program, the exchange is about to exit and is now aiming for a full operational license by 2019.

At the moment, there are at least five other exchanges currently under the sandbox program, according to a Yahoo Finance article. However, Rain Financial leads the pack and is the closest to making its exit. Bahrain Fintech Bay CEO Khalid Saad said:

“What is unique about Rain is they are the most advanced and the closest to graduating. There’s no cryptocurrency exchange in the region that is officially regulated. Hopefully, Rain will be the first one.”

There are a lot of potential crypto investors in the oil-rich region. However, many are still cautious to enter the market because of a number of factors, such as the lack of regulations, market volatility, and security concerns, especially with the well-publicized hacking incidents that have been plaguing the industry. With its institutional-grade infrastructure, Rain aims to offer a secure environment for investors to do their trading.

In a statement, Rain said:

“The biggest issue in this industry is that of trust. We want our customers to feel safe when they are using our product and have taken measures to ensure this, including establishing two stable bank partnerships and incorporating banking grade security checks and verification into our product.”

Rain stated further:

“We will provide the GCC with a digital currency exchange that meets the highest international standards in terms of pricing, product, security, and regulation.”

Rain Financial Aims to Be First Fully Regulated Crypto Exchange in Persian Gulf Region was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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