uqudo and Rain collaborate to redefine cryptocurrency access in MENA

Feb 14, 2024

uqudo, one of MEA’s most innovative digital identity companies and Rain, the leading cryptocurrency firm are partnering to bring in seamless transactions and enhanced security to the crypto realm. The collaboration aims to streamline Rain’s user onboarding process by leveraging uqudo’s secure and compliant identity verification technology.

Headquartered in Bahrain, Rain is the first licensed virtual assets service provider in the Middle East and is regulated in Bahrain by the Central Bank of Bahrain, and the Abu Dhabi Global Market (ADGM) in the UAE. Rain offers its customers the ability to buy and sell cryptocurrencies in the region, as well as custodian services. The company’s commitment to being a user-friendly cryptocurrency exchange in the region and innovative approach to digital assets has made it a dominant force in MEA’s crypto landscape.

With Rain’s mission to become the go-to platform for cryptocurrency in the Middle East, the company has intently focused on maintaining a secure and user-friendly interface. This includes multiple language and currency support, as well as the use of multi-signature cold storage wallets that protect user assets from unauthorised access.

In a strategic move to enhance its customer’s security, Rain has joined forces with uqudo, to enable stringent user identity verification and authentication. This partnership will streamline customer onboarding processes, ensuring a swift and secure experience for both existing and new users, setting a new standard of a safe and customer-centric cryptocurrency ecosystem.

“We are thrilled to partner with uqudo to leverage their innovative and secure identity technology into our customer’s onboarding process. By prioritising security and user-friendliness, we aim to make the benefits and opportunities provided by cryptocurrencies more accessible to individuals in the region”, says Joseph Dallago, CEO of Rain.

Benjamin Haas, CCO of uqudo states “uqudo has been pioneering trustworthy digital interactions in the MEA, and collaborating with Rain, a leader in the region’s cryptocurrency ecosystem, we aim to set a new standard for identity verification for digital wallet users. This partnership marks a crucial milestone in fortifying MEA’s cryptocurrency landscape.”

Governments in the Middle East have started implementing regulations for fostering the use of cryptocurrencies in the region, and uqudo and Rain’s collaborative effort to facilitate trustworthy digital interactions will play an important role in building a compliant digital asset ecosystem.

About uqudo

A leading digital identity and eKYC company, uqudo adopts advanced digital identity technology that includes the KYC verification of national IDs and passports from around the world using powerful AI technologies, cognitive document analysis, superior facial recognition and liveness detection. This enables users to experience a fast, secure and frictionless onboarding process whilst protecting the organisation from fraudulent activities, ensuring the organisations are fully compliant with KYC, AML and CDD regulations.

uqudo’s award-winning tech platform pushes innovation in the world of identity, driving digital transformation on a global scale. uqudo’s market-leading technology has led to awards across the Middle East and Africa and partnerships with global leaders such as VISA, SmartAfrica, Microsoft and more.

Media Contact

Chandrika Mahapatra, Marketing Coordinator, uqudo

E-mail: marketing@uqu.do 

Website: www.uqudo.com

About Rain

Rain’s core mission is to create an internationally respected exchange in the Middle East, from the perspective of both security and pricing and so has bank-grade security and is within 15–30 BIPS of the international market rate. The Rain team consider education as a key component of reaching mainstream adoption for cryptocurrencies and has built an in-person ‘meet-up’ presence across the region to meet this need as a trusted source, providing customers comfort and support whilst navigating this new industry.

Believing that the Kingdom of Bahrain was the best home for a start-up crypto-asset brokerage for the region, working closely with the Central Bank of Bahrain and other institutions, Rain has been on an accelerated journey. Today, Rain’s native applications (iOS, Android, web) enable their customers to buy and sell several fiat and cryptocurrencies.