We are glad to announce that USDT is now available to trade on Rain. Starting today, USDT is available on rain.bh and in the Rain Android and iOS apps. Rain customers can buy, sell, send, receive, or store USDT in Bahrain, Kuwait, Oman, UAE, and Saudi Arabia.
USDT is a stablecoin issued on the Ethereum blockchain as an ERC20 token. 1 USDT is pegged to 1 USD. Tokens like USDT that are pegged to the value of assets are known as stablecoins. While there are risks associated with any stablecoin system, the issuer of Tether claims that USDT is backed by bank reserves and loans that match or exceed the value of USDT in circulation.
Adding new coins is one of the top requests that we receive from customers, USDT in particular. We are excited to add more value to the Middle East by allowing customers to access a stable crypto asset. Tether can be used to store value, or to conveniently transport USD throughout the cryptocurrency ecosystem without the headaches of traditional banking.
Stay tuned for news about additional cryptocurrency cryptocurrencies coming soon to Rain. Have a cryptocurrency that you’d like us to add? Contact us.
Customers can sign up for Rain here. Rain customers can now buy, sell, send, receive, or store USDT today.
Please read here for more information about Tether and the risks associated with holding USDT.
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