{"id":543235,"date":"2022-01-18T14:00:00","date_gmt":"2022-01-18T14:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/"},"modified":"2022-01-18T14:00:00","modified_gmt":"2022-01-18T14:00:00","slug":"this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/","title":{"rendered":"THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later"},"content":{"rendered":"<p><strong>Happy hump day, wonderful people.<\/strong> We\u2019re more than halfway through this (freezing) workweek, so pat yourself on the back, if you can still feel your hands.<\/p>\n<p><strong>THE BIG STORY TODAY-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Crypto asset platform Rain raises USD 110 mn series B: <\/strong>Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first fully licensed digital currency exchange, has raised USD 110 mn in a series B funding round led by Paradigm and Kleiner Perkins with participation from Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures and CMT Digital, according to a <a href=\"https:\/\/www.rain.bh\/blog\/rain-financial-raises-usd-110-million-in-series-b-funding\">company release<\/a>. Rain counts Egypt\u2019s Yehia Badawy among its four co-founders.<\/p>\n<p><strong>HAPPENING NOW-<\/strong><\/p>\n<p><strong>The World Economic Forum\u2019s virtual <\/strong><strong><a href=\"https:\/\/www.weforum.org\/events\/the-davos-agenda-2022\">Davos Agenda<\/a><\/strong><strong> is ongoing:<\/strong> The world\u2019s political, corporate, and intellectual power brokers are wrapping up a session on \u201cRenewing a Global Social Contract\u201d as we dispatch this afternoon\u2019s issue, following discussions on improving global cooperation and what the future of cybersecurity looks like. Japanese Prime Minister Kishida Fumio and Israeli Prime Minister Naftali Bennett had addressed the event earlier this morning. The virtual five-day Davos Agenda is on until Friday.<\/p>\n<p><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>Egypt\u2019s first-ever SPAC to list on EGX by next month:<\/strong> The SPAC <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a15c05fc-a3a2-41f6-90c8-e99e58fafca5\">will list<\/a> \u201cat the end of this month or early next month\u201d and would have initial capital of EGP 10 mn, Financial Regulatory Authority chief Mohamed Omran said.<\/li>\n<li><strong>Nahr Elkhair shares <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fec8431b-7be6-4218-a9c7-316cc0cce7e4\">could begin trading<\/a><\/strong><strong> on the EGX this week:<\/strong> Nahr Elkhair Development and Investment will sell as much as 61.5% of its shares on the bourse, potentially giving the IPO a transaction value of c. EGP 307 mn, Omran also said.<\/li>\n<li><strong>More green debt coming in 1H2022?<\/strong> We could see a USD 400 mn <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7efdd707-7dc3-45f2-bfe5-e9990f7b5f92\">corporate green bond issuance<\/a> in 1H2022 which will be used to finance renewable energy projects and could be cross-listed on the EGX and the German or Luxembourg bourses, Omran added.<\/li>\n<\/ul>\n<p><strong>THE BIG STORY ABROAD-<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Expectations of sooner-than-expected interest rate hikes from global central banks is<\/strong><strong> pushing up yields on government bonds<\/strong>, triggering a sell-off around the world. In the US, yields on two-year notes hit 1.04% \u2014 their highest since February 2020 \u2014 as the market begins to price in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/44a3c176-de70-4a3d-85f8-ca251ff4d1f7\">four, rather than three<\/a>, interest rate hikes from the US Federal Reserve this year. The two-year bonds \u201cclosely track interest rate expectations,\u201d the <a href=\"https:\/\/www.ft.com\/content\/fb684de4-fa00-4791-a062-fdcd737a08d2\">Financial Times<\/a> notes. <a href=\"https:\/\/www.cnbc.com\/2022\/01\/18\/us-bonds-10-year-treasury-yield-jumps-to-2-year-high-topping-1point83percent.html\">CNBC<\/a> also has the story.<\/p>\n<p><strong>Over in Europe, yields Germany\u2019s 10-year Bund are now on the cusp of turning positive<\/strong><strong> for the first time since 2019<\/strong>, rising to -0.002% today from 0.061% yesterday, the <a href=\"https:\/\/www.wsj.com\/articles\/global-stock-markets-dow-update-01-18-2022-11642494893?mod=hp_lead_pos1\">Wall Street Journal reports<\/a>.<\/p>\n<p><strong>Partially behind it all: Inflation:<\/strong> Oil prices rose to a seven-year high, with Brent crude futures currently trading at USD 87.24 \/ bbl.The Bank of Japan <a href=\"https:\/\/www.ft.com\/content\/716d4d9e-da87-4ecd-9414-969bdb36406e\">revised<\/a> upward its inflation projection upward for the first time since 2014, forecasting a 1.1% increase for the fiscal year starting in April, from the previous 0.9%.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>FOR TOMORROW-<\/strong> <strong>South Korean President Moon Jae-in is <\/strong><strong><a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=16012022&id=00ca2f19-6456-48ec-95c4-4bfdb1de34ff\">due in town<\/a><\/strong><strong> from tomorrow<\/strong><strong> until Friday<\/strong>, in what will be the first visit to Egypt by a South Korean president in 16 years. Moon will meet with President Abdel Fattah El Sisi during a regional tour. Moon is <a href=\"https:\/\/www.spa.gov.sa\/2321887\">currently<\/a> in Riyadh, after swinging through <a href=\"https:\/\/www.wam.ae\/en\/details\/1395303011600\">the UAE<\/a> yesterday.<\/p>\n<p><strong>On the agenda:<\/strong> The two presidents are <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9c6904f1-6ead-4b3d-bc2d-e76f78734611\">expected<\/a> to hold talks with the aim of signing a trade agreement between the countries, as well as discuss cooperation on EVs, water desalination, green hydrogen and renewables.<\/p>\n<p><strong>National flag carrier EgyptAir will operate a flight from Casablanca to Cairo tomorrow<\/strong> to bring home Egyptian expats stranded in Morocco following border closures.<\/p>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>You can still catch Consoleya\u2019s Startup Meet-up series today <\/strong>featuring a talk from <strong>Ayman<\/strong><strong> Ashour<\/strong>, founder and principal at Newton International Management. The talk, titled Exits and Reset Dilemmas, will see Ashour discuss how to plan for your startup\u2019s exit and the connections you\u2019ll need along the way. Our friend <strong>Hossam Allam<\/strong> from Cairo Angels will moderate the discussion. The event will take place from 6-9pm \u2014 you can register <a href=\"https:\/\/www.eventbrite.com\/e\/exits-reset-dilemmas-tickets-244467578107\">using this link<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Taking stock of Nafeza + looking at what\u2019s next:<\/strong> Lynx Strategic Business Advisors is hosting a webinar this Thursday, 20 January at 1pm CLT that will see Customs Authority Chairman Elshahat Ghatwary and Senior Advisor to the Chairman of Misr Technology Services Khaled Nassef discuss the progress on implementing the new digital customs system, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34333583-f129-4e6d-ab99-763f535eccc2\">Nafeza<\/a>. The keynote speakers will also discuss their recommendations for the way forward and how to expand the application of the system. You can register for the webinar <a href=\"https:\/\/us06web.zoom.us\/webinar\/register\/WN_qRnR6ykARsSjBAI_ONw0Yw\">here<\/a>.<\/p>\n<p><strong>Applications are open until 31 March to join the Femtech Accelerator Program<\/strong> run by <a href=\"https:\/\/www.flat6labs.com\/\">Flat6Labs<\/a> and women\u2019s healthcare firm <a href=\"https:\/\/www.organon.com\/\">Organon<\/a>. The four-month-long virtual accelerator will support women-led digital healthcare start-ups operating in MENA to build products, test market fit and improve business models. You can register at <a href=\"https:\/\/www.flat6labs.com\/program\/femtech-accelerator-program\/?mc_cid=c6369761b2&mc_eid=2409e87563\">this link<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>? <strong>TOMORROW\u2019S WEATHER- We might be in for some rain tomorrow<\/strong>, with a 40% chance of precipitation, our favorite weather app tells us. The day will see the mercury reach 17\u00b0C, and you might want to bundle up at night, when the mercury will plunge to 7\u00b0C.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy hump day, wonderful people. We\u2019re more than halfway through this (freezing) workweek, so pat yourself on the back, if you can still feel your hands. THE BIG STORY TODAY- Crypto asset platform Rain raises USD 110 mn series B: Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first fully licensed digital currency [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[344,437,633,475,95,634,436],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543235","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-cryptocurrency","tag-davos","tag-enterprisepm","tag-rain-financial","tag-startup-watch","tag-what-were-tracking-tonight","tag-world-economic-forum","wpautop","entry"],"acf":{"mongo_id":"49f3a34c-1a31-412a-b2ef-d26fca43c830","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[543233],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later\" \/>\n<meta property=\"og:description\" content=\"Happy hump day, wonderful people. We\u2019re more than halfway through this (freezing) workweek, so pat yourself on the back, if you can still feel your hands. 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We\u2019re more than halfway through this (freezing) workweek, so pat yourself on the back, if you can still feel your hands. THE BIG STORY TODAY- Crypto asset platform Rain raises USD 110 mn series B: Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first fully licensed digital currency [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-01-18T14:00:00+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later","datePublished":"2022-01-18T14:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/"},"wordCount":914,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["cryptocurrency","Davos","EnterprisePM","Rain Financial","Startup watch","WHAT WE\u2019RE TRACKING TONIGHT","World Economic Forum"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/this-evening-regions-first-digital-currency-exchange-raises-usd-110-mn-series-b-global-interest-rate-hikes-may-come-sooner-rather-than-later\/","name":"THIS EVENING: Region\u2019s first digital currency exchange raises USD 110 mn Series B + Global interest rate hikes may come sooner rather than later - 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The round saw participation from Coinbase Ventures,\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559332,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/18\/make-it-rain\/","url_meta":{"origin":543235,"position":1},"title":"Make it Rain","author":"enterpriseam admin","date":"18 January 2021","format":false,"excerpt":"Crypto asset platform Rain raises USD 6 mn series A: Bahrain\u2019s Rain Financial, whose subsidiary Rain Management is the region\u2019s first fully licensed digital currency exchange, has raised USD 6 mn in a series A funding round led by Middle East Venture Partners with participation from Coinbase, Vision Ventures, CMT\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568796,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/04\/egyptian-food-tech-startup-elmenus-raises-usd-8-mn-in-series-b-round\/","url_meta":{"origin":543235,"position":2},"title":"Egyptian food-tech startup Elmenus raises USD 8 mn in series B round","author":"enterpriseam admin","date":"4 February 2020","format":false,"excerpt":"STARTUP WATCH- Elmenus raises USD 8 mn in Algebra, Global Ventures-led series B funding round: Cairo-based food-tech startup Elmenus has raised USD 8 mn in a series B funding round led by our friends at Algebra Ventures and UAE-based venture capital fund Global Ventures, according to an emailed statement (pdf).\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":582245,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/05\/crypto-platform-rain-throws-in-with-moneyhash-on-payments-plus-stv-is-fundraising-and-rayas-accelerator-inks-pact-with-giz\/","url_meta":{"origin":543235,"position":3},"title":"Crypto platform Rain throws in with MoneyHash on payments. Plus: STV is fundraising and Raya\u2019s accelerator inks pact with GIZ","author":"enterpriseam admin","date":"5 March 2023","format":false,"excerpt":"MoneyHash\u2019s API will allow Rain to add payment service providers and payment methods across the Middle East and Africa.","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/bitcoin-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542955,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/abu-dhabi-issues-spac-regs-as-it-eyes-gulfs-first-blank-check-listing\/","url_meta":{"origin":543235,"position":4},"title":"Abu Dhabi issues SPAC regs as it eyes Gulf\u2019s first blank-check listing","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"The ADX is one step closer to welcoming the GCC\u2019s first SPAC: The UAE\u2019s securities regulator has approved the Gulf\u2019s first regulatory framework for special purpose acquisition companies (SPACs), the Abu Dhabi Media Office said yesterday. The Abu Dhabi Securities Exchange (ADX) could see its first SPAC listing this year,\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544944,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/digital-healthcare-firm-altibbi-closes-usd-44-mn-series-b-round-proceeds-will-help-fuel-expansion-in-egypt-and-ksa\/","url_meta":{"origin":543235,"position":5},"title":"Digital healthcare firm Altibbi closes USD 44 mn series B round, proceeds will help fuel expansion in Egypt and KSA","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"Jordanian digital healthcare platform Altibbi has raised USD 44 mn in a series B funding round and will use the funding in part to expand in Egypt and Saudi Arabia. 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