Middle Eastern crypto exchange Rain to target UAE asset managers after getting licence

Middle Eastern crypto exchange Rain said on Tuesday its Abu Dhabi unit obtained a licence to operate a virtual assets brokerage and custody service for clients in the United Arab Emirates.

The Bahrain-headquartered Rain, backed by Coinbase, said its entity based in the Abu Dhabi Global Market financial freezone will now offer institutional clients and some retail clients in the UAE the ability to buy, sell and store virtual assets.