The company has been applying for a license in Abu Dhabi since 2018.
After half a decade, it finally joined the companies licensed in the Middle East.
The Middle
East is becoming an increasingly attractive location for a growing number of
cryptocurrency exchanges. After Binance obtained authorization from the
regulator in Abu Dhabi in November 2022, more companies have begun appearing in the
local market. The latest is Rain Trading Limited, which has received the Financial
Services Permission (FSP) issued by the Abu Dhabi Global Market's (ADGM)
Financial Services Regulatory Authority.
Rain Joins Licensed Firms in Abu Dhabi
Abu Dhabi
and Dubai are among the most populated of the seven administrative regions in
the United Arab Emirates (UAE). Both jurisdictions issue separate permits for
providing financial services, and while Dubai has recently seemed more popular,
Abu Dhabi is also not lagging behind the rising popularity of the
cryptocurrency trend in the Middle East.
Rain
announced yesterday (Tuesday) that it had obtained permission to provide
brokerage and custody services in the digital asset market. It has also
partnered with a local bank to settle client deposits in accordance with local
regulations.
Rain's CEO,
Joseph Dallago, stated that the fight to get the license lasted for five years.
Rain was one of the first companies to apply for authorization in 2018 when
ADGM presented its virtual asset framework.
"UAE residents will now be able to fund their accounts in minutes, thanks to a partnership with a local UAE bank. Furthermore, customers are further protected through the supervision of a local regulator and thorough legal framework," Dallago added.
As
mentioned earlier, Binance has been operating in the local market since
November of last year. Previously, it received in-principle approval to provide
its services. In addition to Abu Dhabi, many exchanges are opening up to
the UAE through Dubai, where the Virtual Assets Regulatory Authority (VARA)
licenses are issued. Recently, Bitget, ByBit, and OKX have all received
authorization in the emirate.
For
Binance, the Middle East is becoming an important jurisdiction, especially
in light of regulatory issues in the United States and around the world.
According to Alexa Chehade, the General Manager of Binance Dubai, the UAE could
become the primary target for cryptocurrency firms seeking favorable and
transparent regulations.
The Middle East Becomes a
Crypto Hub
According
to data related to the adoption of cryptocurrencies in the Middle East and
North Africa, this region is the fastest-growing area in the cryptocurrency
industry, accounting for 9.2% of global transactions in 2021-2022. In the UAE
alone, a staggering increase in the number of registered cryptocurrency
companies of 400% was noted over two years.
At the same
time, the region has seen an increase of threefold in the number of educational
programs related to blockchain, contributing to an 8% rate of hash mining. All
these factors have led to an increasing number of exchanges deciding to enter
the local market and set up their offices in Dubai or Abu Dhabi.
Furthermore,
the local market has tremendous potential in terms of the number of retail
investors. This is confirmed by FX/CFD market data, where the number
of investors is constantly growing despite a global downturn.
Source: Investment Trends
In
addition, according to Binance MENA statistics, the majority of cryptocurrency
holders currently live in the UAE. This represents 28% of all residents of the
UAE, meaning that one in four people in the country own cryptocurrencies.
The Middle
East is becoming an increasingly attractive location for a growing number of
cryptocurrency exchanges. After Binance obtained authorization from the
regulator in Abu Dhabi in November 2022, more companies have begun appearing in the
local market. The latest is Rain Trading Limited, which has received the Financial
Services Permission (FSP) issued by the Abu Dhabi Global Market's (ADGM)
Financial Services Regulatory Authority.
Rain Joins Licensed Firms in Abu Dhabi
Abu Dhabi
and Dubai are among the most populated of the seven administrative regions in
the United Arab Emirates (UAE). Both jurisdictions issue separate permits for
providing financial services, and while Dubai has recently seemed more popular,
Abu Dhabi is also not lagging behind the rising popularity of the
cryptocurrency trend in the Middle East.
Rain
announced yesterday (Tuesday) that it had obtained permission to provide
brokerage and custody services in the digital asset market. It has also
partnered with a local bank to settle client deposits in accordance with local
regulations.
Rain's CEO,
Joseph Dallago, stated that the fight to get the license lasted for five years.
Rain was one of the first companies to apply for authorization in 2018 when
ADGM presented its virtual asset framework.
"UAE residents will now be able to fund their accounts in minutes, thanks to a partnership with a local UAE bank. Furthermore, customers are further protected through the supervision of a local regulator and thorough legal framework," Dallago added.
As
mentioned earlier, Binance has been operating in the local market since
November of last year. Previously, it received in-principle approval to provide
its services. In addition to Abu Dhabi, many exchanges are opening up to
the UAE through Dubai, where the Virtual Assets Regulatory Authority (VARA)
licenses are issued. Recently, Bitget, ByBit, and OKX have all received
authorization in the emirate.
For
Binance, the Middle East is becoming an important jurisdiction, especially
in light of regulatory issues in the United States and around the world.
According to Alexa Chehade, the General Manager of Binance Dubai, the UAE could
become the primary target for cryptocurrency firms seeking favorable and
transparent regulations.
The Middle East Becomes a
Crypto Hub
According
to data related to the adoption of cryptocurrencies in the Middle East and
North Africa, this region is the fastest-growing area in the cryptocurrency
industry, accounting for 9.2% of global transactions in 2021-2022. In the UAE
alone, a staggering increase in the number of registered cryptocurrency
companies of 400% was noted over two years.
At the same
time, the region has seen an increase of threefold in the number of educational
programs related to blockchain, contributing to an 8% rate of hash mining. All
these factors have led to an increasing number of exchanges deciding to enter
the local market and set up their offices in Dubai or Abu Dhabi.
Furthermore,
the local market has tremendous potential in terms of the number of retail
investors. This is confirmed by FX/CFD market data, where the number
of investors is constantly growing despite a global downturn.
Source: Investment Trends
In
addition, according to Binance MENA statistics, the majority of cryptocurrency
holders currently live in the UAE. This represents 28% of all residents of the
UAE, meaning that one in four people in the country own cryptocurrencies.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
