Rain, the first platform authorized in the Middle East by the Central Bank of Bahrain, has announced that it is considering listing the Shiba Inu token on its platform.
A spokesperson for Ren stated: “Shiba Inu has been listed on our platform. However, it is not yet a tradable currency, and our team is working to activate it for trading, and confirmed that there is no specific time frame for when trading will be open for Chiba.”
— $SHIB BPP (@ShibBPP) March 17, 2022
As for the Rain platform, the “Rain Financial” platform was founded in 2017 by the Saudi “Abdullah Al-Muaiqel”, the Egyptian “Yahya Badawi” and the Americans “A JJ Nelson” and “Joseph Delago”.
The platform has raised around $2.5 million, led by BitMEX Ventures, BitMEX’s investment arm, as well as Kuwait-based Blockwater Fund.
In 2021, the platform completed its $6 million Series 1 funding round, attracting capital from MEVP Capital and other investors.
The Bahrain-based cryptocurrency platform has over 185,000 active users, has now processed almost $2 billion in transactions, and also provides custody services in addition to operating a cryptocurrency platform.
Despite the news of the Chiba Inu adoption, the price of the coin has fallen by 2.61% in the last 24 hours and is currently ranked 15th in terms of market cap.