Abu Dhabi's financial regulator has granted permission to crypto firm Rain to operate as a virtual asset brokerage and custody service provider. The platform will allow institutional and retail clients in the UAE to buy, sell, and store virtual assets, as well as on- and off-ramp to the UAE dirham. Rain CEO Joseph Dallago stated that the license will offer customers a greater level of security and trust. The Abu Dhabi Global Market had previously given Rain an in-principle approval for an FSP in 2022, and the company markets itself as "the simplest way to trade crypto across the Middle East."