The Abu Dhabi World Market Monetary Companies Regulatory Authority has granted its monetary providers license to cryptocurrency agency Rain to supply brokerage and custody providers to residents.

In a July 25 advert, Rain stated the regulatory approval will permit sure UAE-based institutional and retail customers to “purchase, promote, commerce and retailer digital property” by the platform. In response to Rain CEO Joseph Dallago, the buying and selling firm has additionally in partnership with a neighborhood financial institution to facilitate providers, underneath the “supervision of a neighborhood regulator and a radical authorized framework” for the safety of customers.

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