Tarabut Gateway partners with Rain to enhance MENA’s crypto sector through open banking solutions.
- Rain users in Bahrain can now top-up their crypto wallets efficiently via bank transfers within the app.
- The integration promises to speed up fiat-to-crypto transactions and minimise errors associated with traditional methods.
- This partnership highlights the strategic use of Bahrain’s advanced open banking ecosystem for financial innovation.
- MENA’s crypto market is rapidly growing, with Rain and Tarabut Gateway leading innovations in the region.
Tarabut Gateway, a leading open banking platform in MENA, has announced a strategic partnership with Rain, the region’s first regulated crypto trading platform. This collaboration marks Tarabut Gateway’s initial foray into partnering with a crypto asset service provider, signifying a pivotal shift towards integrating banking with cryptocurrency solutions.
Through this partnership, Rain users in Bahrain are set to benefit from a streamlined process to top-up their crypto wallets using bank transfers directly within the Rain app. This feature leverages Tarabut Gateway’s open banking payment solutions, providing significant improvements in transaction speed and error reduction, areas traditionally hampered by conventional bank wire transfers.
The alliance is aligned with Rain’s strategy to offer an enhanced and seamless crypto wallet experience to its users across the MENA region. The initiative aims to enable efficient fiat-to-crypto and crypto-to-fiat transactions, reinforcing Rain’s commitment to maintaining a premium service offering.
Tarabut Gateway’s CEO, Abdulla Almoayed, expressed enthusiasm about the collaboration, highlighting the synergy between sectors enabled by Bahrain’s progressive open banking landscape. He emphasized the role of crypto trading and blockchain solutions as complementary to traditional financial systems, enhancing innovation and user experience.
Rain’s CEO, Joseph Dallago, outlined that the collaboration with Tarabut Gateway signifies a transformative shift in adopting crypto assets in the MENA region. He noted the benefits of quicker deposit mechanisms allowing traders to react swiftly to market changes, thus solidifying Rain’s position as a leading crypto service provider.
This development further strengthens Tarabut Gateway’s position in the MENA’s open banking ecosystem, expanding its fintech partnerships and enhancing consumer experiences. Meanwhile, Rain, through its licensed subsidiary, continues to offer a secure environment for cryptocurrency transactions and education, promoting informed engagement in the rapidly expanding crypto market.
The partnership between Tarabut Gateway and Rain represents a forward-thinking step in MENA’s crypto sector, positioning both entities as key innovators in financial technology.
