Bahrain Central Bank-licensed cryptocurrency platform Rain Management said trading volumes has jumped 20-fold to $1 billion in 2021 compared to last year.

As there were now more than 100,000 active users, Rain said it plans to hire 105 more employees.

In a statement Monday, it attributed the surge to increased awareness of the cryptocurrency industry as well as the shift in mindset amongst investors in the region.

Joseph Dallago, Director, Rain, said: “2020 expedited digital adoption in the region that surely had a positive effect on our growth. We are excited to see the mass adoption of cryptocurrencies by governments and consumers.”

Rain Management caters to customers based in Bahrain, Saudi Arabia, Kuwait, Oman and the UAE.

(Writing by Imogen Lillywhite; editing by Brinda Darasha)

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