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.
KuCoin Rolls Out MiCA-Regulated Crypto Platform Across 29 EU Markets
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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
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
