News
Crypto Trading Platform Rain Gets Faster, Direct Payments
The partnership with Tarabut Gateway is the first “directly integrated” open banking API in the MENA crypto sector.
Tarabut Gateway, the largest open banking platform in the MENA region, has announced a new partnership with Rain, the region’s first fully-regulated crypto assets trading platform.
Rain is licensed by the Central Bank of Bahrain as a crypto broker and offers users a safe, secure space to buy and sell crypto and store their assets. Meanwhile, Tarabut Gateway provides connectivity for payments between banks and fintech, offering a smooth, fast payment process for end users.
The partnership is the first of its kind in the MENA region. It will help to bring about faster, lower-cost fiat-to-crypto transfers to end-users in Bahrain, enabling direct payments from bank accounts without the need to leave Rain’s platform.
“We’re delighted to unveil a solution to make fiat-to-crypto transfers quicker, more secure, and cost-effective. Our partnership with Rain is a perfect cross-sector synergy, made possible by Bahrain’s advanced open banking ecosystem,” says Abdulla Almoayed, Founder and CEO of Tarabut Gateway.
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The new payment method utilizes Tarabut Gateway’s open banking solution to facilitate fiat-crypto-fiat transfers, reducing errors and unlocking significantly increased transfer speeds compared to traditional bank services. The upgrade is part of Rain’s strategy to provide users with a premium, seamless crypto wallet experience.
“Through quick and efficient deposit mechanisms, crypto traders on Rain’s platform will now be able to seamlessly fund their accounts and capitalize on market movements,” says Joseph Dallago, Chief Executive Officer of Rain.
The partnership comes as MENA’s crypto sector expands at a breakneck pace. According to Chainalysis, the region is the world’s fastest-growing crypto market, with trading volumes climbing nearly 50% in the year to June 2022.
News
NASA Forms New Partnership With Saudi Space Agency
The pair will collaborate on the Center for Space Futures, advancing space tech by bringing together public and private stakeholders.
Saudi Arabia’s space industry is on the brink of substantial expansion after generating $400 million in revenue in 2022, according to a report by the Saudi Communications, Space and Technology Commission.
Now, in a new venture with NASA, plans for a “Center for Space Futures” are set to further drive the Kingdom’s aspirations of becoming a leading player in space exploration and technology.
Capturing moments from the joint delegation visit with leaders from the Saudi and American Space Agencies @NASA to @PSU_RUH, along with scenes showcasing the audience's engagement. pic.twitter.com/oB1cFTiRNl
— وكالة الفضاء السعودية (@saudispace) May 14, 2024
The partnership between NASA and Saudi Arabia goes beyond economic advantages. The pair have already cooperated on preliminary work for the Artemis II lunar mission, which is slated for a September 2025 launch and aims to land astronauts near the moon’s South Pole.
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During a visit to the capital, Riyadh, NASA Administrator Bill Nelson emphasized in a TV interview the broader objectives of the collaboration, which encompass “returning to the moon and then [to] Mars” while utilizing space exploration to glean important insights into climate change. The NASA spokesman also reiterated the space agency’s dedication to collaborating with Saudi Arabia on other future ventures.
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