{"id":56077,"date":"2022-01-18T10:08:12","date_gmt":"2022-01-18T08:08:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56077"},"modified":"2025-09-04T04:40:59","modified_gmt":"2025-09-04T01:40:59","slug":"regulated-bahrain-based-bitcoin-exchange-closes-110-million-series-b-led-by-paradigm-and-kleiner-perkins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/regulated-bahrain-based-bitcoin-exchange-closes-110-million-series-b-led-by-paradigm-and-kleiner-perkins\/","title":{"rendered":"Regulated Bahrain-based bitcoin exchange closes $110 million Series B led by Paradigm and Kleiner Perkins"},"content":{"rendered":"<p>\\n<\/p>\n<p>Rain Financial, a Bahrain-based cryptocurrency exchange licensed by the local central bank, closed an $110 million Series B round. It was led by Paradigm and Kleiner Perkins.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">We are thrilled to announce our $110M in Series B funding co-led by <a href=\\\"https:\/\/twitter.com\/paradigm?ref_src=twsrc%5Etfw\\\">@paradigm<\/a> and <a href=\\\"https:\/\/twitter.com\/kleinerperkins?ref_src=twsrc%5Etfw\\\">@kleinerperkins<\/a> to deliver an empowering crypto experience and continue our global expansion.<\/p>\n<p>Read More: <a href=\\\"https:\/\/t.co\/x0vZQw2ok3\\\">https:\/\/t.co\/x0vZQw2ok3<\/a> <a href=\\\"https:\/\/t.co\/bDe85JjTFk\\\">pic.twitter.com\/bDe85JjTFk<\/a><\/p>\n<p>\u2014 Rain (@rainfinancial) <a href=\\\"https:\/\/twitter.com\/rainfinancial\/status\/1483324396571922432?ref_src=twsrc%5Etfw\\\">January 18, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n\\n<\/p>\n<p>Funding was also provided by Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The funds will be used to expand the team and strengthen the technical backbone. The plan also includes expansion into the Middle East and Pakistan with licenses from local regulators. Currently, besides Bahrain, the firm is also present in Turkey and the UAE.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The client base at Rain Financial reached 185,000 active users, according to the press release.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>The cryptocurrency exchange was founded in 2017. After two years in a regulatory sandbox, Rain obtained a Bahrain Central Bank license, becoming the first regulated trading platform for crypto assets in the region.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Earlier, Rain Financial <a href=\"https:\/\/forklog.com\/en\/news\/rain-financial-the-bahrain-based-bitcoin-exchange-raises-6-million-from-mevp-capital-coinbase-and-other-investors\">attracted $6 million<\/a> from MEVP Capital and others.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In the same month, another cryptocurrency exchange CoinMENA <a href=\"https:\/\/forklog.com\/en\/news\/coinmena-a-cryptocurrency-exchange-secures-bahrain-license\">received a license<\/a> from the Bahrain Central Bank and a certificate of Sharia compliance from the Shariyah Review Bureau (SRB).<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>In December, Binance <a href=\"https:\/\/forklog.com\/en\/news\/binance-wins-in-principle-approval-to-operate-as-a-crypto-services-provider-in-bahrain\">received<\/a> approval to operate in Bahrain.<\/p>\n<p>\\n\\n\\n\\n<\/p>\n<p>Subscribe to ForkLog news on Facebook! <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Facebook<\/a>!<\/p>\n<p>\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bahrain-based cryptocurrency exchange Rain Financial, licensed by the local central bank, closed a $110 million Series B round led by Paradigm and Kleiner Perkins.<\/p>\n","protected":false},"author":1,"featured_media":56078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1552,1166],"class_list":["post-56077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bahrain","tag-centralized-exchanges-cex"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=56077"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56077\/revisions"}],"predecessor-version":[{"id":56079,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/56077\/revisions\/56079"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/56078"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=56077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=56077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=56077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}