Bahrain-based cryptocurrency platform Rain announces 0% trading fees

Bahrain headquartered and MENA-based cryptocurrency trading platform, Rain, has launched one of the most competitive fee structures in the region by introducing zero per cent trading fees. With this offer, users will be able to see the price of the cryptocurrency they want to trade and know there are no further costs later on.

The simplified fee structure aims to bring a new generation of investors into the Middle East and help customers feel more comfortable placing their first trade, as they build their confidence in the crypto world.

Recently, Rain launched a new version of its platform and this latest update is part of its commitment to investing in building a trading experience that is easy to use.

 “We believe introducing zero per cent commission trading is the fastest way to onboard millions of new customers in the Middle East that are newly interested in the crypto industry. Rain as a leader wants to set the tone for the market,” said AJ Nelson, Rain’s co-founder. The company’s other co-founders include Abdullah Almoaiqel, AJ Nelson, Joseph Dallago and Yehia Badawy.

Earlier this year, the company, which was launched in 2017, secured $110m in Series B funding. The round was co-led by Paradigm and Kleiner Perkins with participation from numerous parties, including Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital.

A statement from the company stated that they were “very excited about this funding opportunity as it allows us to continue conversations with regulators across the MENA region, Turkey, and Pakistan about the benefits and potential of cryptocurrency”.