The Bahrain-based regulated crypto asset trading platform Rain has partnered with Tarabut Gateway to offer faster and more cost-effective fiat-to-crypto transfers to end-users in Bahrain. The move aims to provide a seamless crypto wallet experience for its users in the Middle East and North Africa (MENA) region.
Tarabut Gateway’s open-banking payment solutions will facilitate on-and-off-ramp transfers for users. The solution enables the flow of data and payments between banks and fintechs, providing better financial services to end-users. This aligns with Rain’s strategy to offer a seamless crypto wallet experience for its MENA users.
Tarabut Gateway has reported that the recent inclusion of Rain among its fintech clients has significantly enhanced its role in the MENA open banking ecosystem. Rain, a licensed crypto assets broker and custodian by the Central Bank of Bahrain, aims to provide a secure platform for purchasing, selling, and storing crypto assets through its subsidiary, Rain Management WLL.
Abdulla Almoayed, the founder and CEO of Tarabut Gateway, stated that “Our collaboration with Rain is a prime example of cross-sector synergy, made possible by Bahrain’s advanced open banking ecosystem.” He also mentioned that the fusion of open banking and cryptocurrency platforms would naturally complement each other in expanding traditional banking and finance.
Rain’s partnership with Tarabut Gateway is significant because crypto trading, wallets, and other blockchain use cases align with opening up traditional banking and finance. By offering fast and cost-effective fiat-to-crypto transfers, the two companies are making cryptocurrency accessible to people in the MENA region, facilitating an easier transition from traditional banking and finance to cryptocurrency.
Joseph Dallago, the Chief Executive Officer of Rain, stated, “The integration with Tarabut Gateway cements Rain’s premium product offering in the region.” This statement affirms the shared vision of both companies to enhance their clients’ user experience.
As part of its mission to enhance financial education, Rain provides regular educational opportunities for individuals interested in learning more about cryptocurrency. This feature enables potential investors to access all the necessary information they need to make informed investment decisions.
In conclusion, the integration of open banking and cryptocurrency markets represents significant progress and innovation within the fintech industry in the MENA region. Through the partnership between Rain and Tarabut Gateway, cryptocurrency adoption is now more accessible and easier for individuals in the area.
As more individuals become aware of the benefits of using cryptocurrency, more companies are setting up platforms to facilitate fast, secure, and cost-effective transactions. The collaboration between Rain and Tarabut Gateway serves as an excellent model for other firms seeking to integrate open banking and cryptocurrency markets, delivering a seamless user experience.