Rain and Standard Chartered Establish Banking Agreement Across Bahrain and the UAE

Rain has entered into a multi-jurisdictional banking agreement with Standard Chartered, strengthening the regulated financial infrastructure supporting digital asset operations across Bahrain and the United Arab Emirates.

Under the agreement, Standard Chartered will provide banking services to Rain in both Bahrain and the UAE, including segregated client money accounts, fiat settlement services, and correspondent banking capabilities designed to support the company’s regional operations.

The arrangement will support both retail and institutional clients across Rain’s group structure, with settlements available in major fiat currencies including the UAE dirham (AED), Bahraini dinar (BHD), and US dollar (USD).

Standard Chartered Expands Support for Regional Digital Asset Infrastructure

The partnership comes as the Gulf region continues to boost its role in the global digital asset industry through increasingly structured regulatory frameworks and growing institutional participation.

“Bahrain and the UAE continue to strengthen their positions as leading hubs for innovation in financial services, supported by evolving regulatory frameworks and growing institutional participation across the digital asset ecosystem. As activity in the sector continues to develop, banking infrastructure will play an important role in supporting firms operating within established regulatory environments. We look forward to supporting Rain’s growth across both markets,” explained Rola Abu Manneh, Chief Executive Officer at Standard Chartered for the UAE, Middle East, and Pakistan.

Banking Relationships Become More Important for Crypto Firms

The agreement reflects a broader trend within the digital asset sector, where regulated crypto firms are increasingly seeking stronger banking partnerships to support operational stability, client fund segregation, fiat settlement, and institutional-grade financial infrastructure.

Rain currently operates under licenses issued by the Central Bank of Bahrain and the Financial Services Regulatory Authority of Abu Dhabi Global Market.

According to the company, the partnership with Standard Chartered strengthens the existing regulated framework governing how customer funds are held and transferred while supporting the expansion of future products and services across the region.

“As digital asset markets continue to evolve, strong banking relationships remain important in supporting secure and efficient operations. We are pleased to work with Standard Chartered to support Rain’s operations across Bahrain and the UAE,” said Rain Co-Founder, AJ Nelson.