Rain Secures Full Dubai Crypto Licence From VARA

Crypto platform Rain has secured a full licence from Dubai’s Virtual Assets Regulatory Authority for its Dubai entity, Rain MENA FZE.

The licence covers virtual asset exchange and broker-dealer services, including margin trading, and allows the company to serve retail, qualified and institutional investors in Dubai. It follows an in-principle approval granted earlier this year under the regulator’s two-stage licensing process.

Rain MENA FZE will operate under the authority’s exchange and broker-dealer rulebooks. “We are a regional platform with global intent, and Dubai is where that becomes practical,” Rain MENA FZE director Laurent Girouille said.

The approval gives Rain licences from three regulators across the Gulf Cooperation Council. The company is also regulated by the Central Bank of Bahrain and the Financial Services Regulatory Authority of Abu Dhabi Global Market.