Bahrain-headquartered crypto exchange Rain announced receiving the first Financial Services Permission (FSP) from Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate a virtual assets brokerage and custody service. The license would enable Rain to offer institutional and retail clients in the UAE the ability to buy, sell and store digital assets. The brokerage will also allow users to on- and off-ramp to the UAE dirham. Rain co-founder and CEO Joseph Dallago added that the UAE residents will now be able to fund their accounts in minutes, thanks to a partnership with a local UAE bank.
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