Rain ADGM launches instant AED deposits & OTC service in UAE

By Arya M Nair, Official Reporter
  • Follow author on
Rain ADGM AED deposit & OTC service
Rep.Image (Courtesy: Rain Twitter)

Crypto exchange Rain ADGM has launched instant AED banking deposits and an exclusive OTC desk for institutional clients in the UAE.

The latest offering aims to provide retail and institutional customers with a second-to-none banking experience for virtual assets in the UAE through a local bank account that is fully regulated by the Central Bank of the United Arab Emirates (CBUAE).

This significant milestone allows UAE residents to make instant AED deposits and withdrawals without any transfer restrictions. This further enhances the banking infrastructure and users in the UAE can benefit through a secure and seamless transition from fiat currency to virtual assets. Rain ADGM operates under the supervision of the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

In addition to the innovative banking stream, Rain ADGM is also expanding its Over the Counter (OTC) service, offering high-net-worth and institutional clients a white-glove, institutional-grade brokerage facility for the execution of larger virtual asset trade orders. The OTC Desk will provide clients with a customized trading experience and block trading for precise execution at the best value.

Rain OTC Desk will facilitate seamless and secure over-the-counter (OTC) trading for clients, by offering a more customized execution and settlement service, and sourcing competitive pricing, This exclusive offering will be available to high-net-worth and institutional clients, further solidifying Rain ADGM’s commitment to delivering cutting-edge solutions to its diverse clientele.

Emmanuel Alamu_Rain ADGM launches AED deposits & OTC service in UAE
Emmanuel Alamu
Global Head – OTC

“Our integration with the local banking infrastructure is a comprehensive step forward in building a cohesive virtual asset community in the UAE. With near-instant bank deposits, we are now able to bring the quality of localized OTC services in the UAE materially closer to both the efficiency and depth of more established global virtual asset markets within Europe and Asia.”

Rain ADGM’s expertise in the virtual asset industry and its dedication to compliance align with ADGM’s vision of fostering growth and investment opportunities in the virtual asset sector. ADGM’s virtual asset framework, established in 2018, has positioned the jurisdiction as a global leader in virtual asset regulation, providing a secure and conducive environment for businesses and investors alike.

Most Read | Green Data City & Phoenix unite for $300mn crypto-mining farm in Oman