Tarabut Gateway and Rain partner to improve cryptocurrency transactions in Bahrain
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 financial technology company, has partnered with Rain, a MENA compliance crypto asset trading platform, to provide faster and more cost-effective legal currency-cryptocurrency transactions for Bahrain end users. The partnership allows users to directly pay funds from their bank accounts without leaving Rain’s platform. This move is a part of Rain’s strategy to provide a seamless encrypted wallet experience for users in East and North Africa.
The MENA region has shown a significant increase in cryptocurrency adoption, and the demand for seamless and secure crypto transactions has continued to surge. Through this partnership, Tarabut Gateway and Rain aim to remove some of the barriers and inefficiencies associated with traditional banking and exchange systems. The transaction process will be more cost-effective, and users will not have to leave Rain’s platform to transfer funds from their bank accounts.
Moreover, Rain’s emphasis on MENA compliance will also help to ensure regulatory clarity in regards to cryptocurrency trading in Bahrain. The platform’s compliance standards are recognized by the Central Bank of Bahrain and the UAE’s financial regulator. Tarabut Gateway’s extensive experience in connecting with local banks and financial institutions will further establish compliance with regulatory policies in the region.
This partnership is a significant step in advancing the accessibility and adoption of cryptocurrency in the MENA region. By offering more streamlined and cost-effective solutions, Tarabut Gateway and Rain are contributing to the ongoing transformation of the financial industry. The potential for seamless encrypted wallet experiences can eliminate several barriers of entry that hinder massive adoption of cryptocurrency.
In conclusion, Tarabut Gateway and Rain’s partnership will help to streamline legal currency-cryptocurrency transactions and offer a seamless encrypted wallet service that complies with regulatory standards in Bahrain. This move is expected to contribute further credibility to the cryptocurrency industry by showing that compliance with regulations is achievable, and it is possible to offer improved services to the end-users.
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