Rain, a regulated crypto platform in the Middle East, has obtained a full licence from Dubai’s Virtual Assets Regulatory Authority (VARA).

The licence was issued to Rain MENA FZE, the company’s Dubai entity. It covers virtual asset exchange and broker-dealer services, including margin trading.

VARA granted Rain In-Principle Approval (IPA) earlier this year. In Dubai’s two-stage framework, an IPA permits a firm to prepare for operations, while a full licence is required before it may serve clients.

Under the full licence, Rain MENA FZE is authorised to serve retail, qualified and institutional investors across its licensed activities.

The entity will operate in accordance with VARA’s rulebooks for exchange and broker-dealer services.

Accordingly, Rain may offer its services, including margin trading, to customers in Dubai.

“We are a regional platform with global intent, and Dubai is where that becomes practical,”

said Laurent Girouille, Director of Rain MENA FZE.

Rain now holds licences from three regulators in the Gulf Cooperation Council (GCC).

In addition to VARA, the company is licensed by the Central Bank of Bahrain (CBB) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

Featured image: Edited by Fintech News UAE, based on image by Rain via its website and Magnific.