• Rain and Tarabut have partnered to make crypto transactions faster, cheaper, and more secure.
• Customers can now access digital currencies through the Rain platform with fewer errors from traditional bank wire transfers.
• Open banking has many benefits such as transparency, customers giving permission before banks engage, and easy access to a variety of accounts.
Rain and Tarabut Partnership
Open banking firm Tarabut Gateway is joining forces with Bahrain-based crypto exchange Rain to ensure that customers can add digital currencies to their wallets for less money and in half the time than before. The partnership between the two companies will speed up transactions tenfold while also allowing customers to top up on their wallets without having to leave the Rain platform. Errors from traditional bank wire transfers are also slated to decrease thanks to new protocols set by the company.
Benefits of Open Banking
Open banking has long been at the center of the digital currency arena for its many benefits such as full transparency of transactions, preventing third parties or middlemen from doing anything illicit or funny without being laid out in a barrage of lights for customers to see, allowing customers view trading and spending habits of banks they work with, giving them permission on various maneuvers before banks can engage, and providing them easy access to a wide array of accounts from multiple financial institutions so they can easily engage in transfers or other financial activities.
Statements From Executives
Abdulla Almoayed – founder and chief executive of Tarabut – expressed delight when announcing this solution: “We’re delighted to unveil a solution that aims to make fiat-to-crypto transfers quicker, more secure, and cost-effective, as well as enable such funding methods directly from bank accounts. Our partnership with Rain is a perfect cross-sector synergy made possible by Bahrain’s advanced open banking ecosystem.“ On his part Joseph Dallago – CEO of Rain – commented: “Through quick and efficient deposit mechanisms crypto traders on our platform will now be able to seamlessly fund their accounts and capitalize on market movements.“
A Growing Firm
Tarabut is a large firm that is growing quickly thanks in part due its partnerships with firms like Rain that help it offer better services for its clients; services which include making sure fiat-to-crypto transactions are faster, more secure, cost effective, enabling funding methods straight from bank accounts using open banking systems which have become increasingly popular within digital currency arenas over time.
The partnership between Tarabut Gateway and Bahrain-based crypto exchange Rain promises good things for both companies involved but even better things for their clients who get access faster transactions at lower costs amongst other advantages offered by an open banking system such as full transaction transparency meaning no funny business behind closed doors!