Manama, Kingdom of Bahrain:  Rain Management W.L.L (Rain Bahrain) and BENEFIT—the Kingdom’s leading innovators in fintech and electronic financial services—have joined forces to bridge the gap between traditional finance and the digital asset economy. As a result of this strategic partnership, Rain becomes the first crypto platform in Bahrain to integrate BenefitPay as a direct payment method. This milestone significantly strengthens Rain’s fiat on-ramp ecosystem, allowing customers to purchase virtual assets instantly through BenefitPay.

Through this integration, Rain customers can now purchase virtual assets directly through BenefitPay, leveraging its network of full commercial banks licensed by the Central Bank of Bahrain. Transactions are processed instantly, removing the delays traditionally associated with fiat-to-virtual assets on ramps. Rain customers benefit from a cost-effective, reliable and frictionless path to purchasing virtual assets. The collaboration reflects the growing convergence of Bahrain's digital payment infrastructure and the virtual assets sector, and sets a new benchmark for the customer experience that regulated crypto platforms can deliver.

“We are pleased to partner with "Rain Bahrain" on this integration, which reflects BENEFIT’s continued role in advancing Bahrain’s digital payments landscape and delivering real value to users," said Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT. "Enabling BenefitPay as a payment method for Rain customers brings added convenience and speed to users seeking regulated access to virtual assets, while also highlighting the strength and adaptability of Bahrain’s financial infrastructure. This collaboration aligns with our broader efforts to further strengthen the Kingdom's position as a leading regional financial hub for digital financial solutions and virtual assets.”

Geoff Stecyk, General Manager Bahrain at Rain, said: "Bahrain has been Rain's home since we received the region's first virtual asset service provider license, and we are committed to building the best possible experience for our customers here. Being the first crypto platform to integrate BenefitPay is a milestone we are proud of and it means our customers can now use the payment method they already trust in their daily lives to purchase virtual assets instantly, at the lowest possible cost. Unlike traditional financial markets, Rain operates 24/7 — and we are especially excited that BenefitPay's 24/7 availability now matches that, meaning our customers can fund and trade on Rain around the clock, any day of the year. This is what accessible, regulated crypto looks like."

This integration builds on Rain's continued investment in its Bahrain operations and its commitment to delivering regulated, user-friendly access to virtual assets across the MENA region. Rain and BENEFIT will continue to explore opportunities to enhance the customer experience within the bounds of Bahrain's regulatory framework and broader digital transformation agenda.

ABOUT RAIN

Rain was founded in 2017 by Joseph Dallago, AJ Nelson, Yehia Badawy and Abdullah Almoaiqel. Rain Management W.L.L, based in Bahrain, is the first licensed virtual assets service provider in the Middle East, regulated by the Central Bank of Bahrain since 2019. In 2023, Rain ADGM became a fully licensed virtual assets broker and custodian under the oversight of ADGM's Financial Services Regulatory Authority. The platform serves as a safe space to buy, sell and store virtual assets at competitive prices. To learn more about Rain, visit www.rain.com, or download the app via the Google Play Store or Apple App Store.

ABOUT THE BENEFIT COMPANY

The BENEFIT Company B.S.C. (c) is a leading provider of digital acquiring and payment services in the Kingdom of Bahrain, operating under commercial registration number 39403 and licensed by the Central Bank of Bahrain as an Ancillary Service Provider. BENEFIT operates the BenefitPay e-wallet platform, connecting customers and merchants across Bahrain's banking network. For more information, visit www.benefit.bh.

For all media inquiries contact:
Rain Press Team
E-mail: ahmed.samra@rain.com
BENEFIT Press Team
E-mail: PR@benefit.bh


Disclaimer: This marketing communication is for information purposes only and does not constitute investment advice. You should consider whether the product is appropriate for your circumstances and seek independent advice where necessary.