Showcasing blockchain’s potential to allow on a regular basis monetary transactions
NEW YORK, Could 1, 2025 /PRNewswire/ — Rain, a world card issuing platform constructed for stablecoins, helps usher in a brand new period of onchain finance by its work with Visa.
In the present day, Rain introduced it has joined Visa’s pilot program for stablecoin settlement. Rain has absolutely tokenized its bank card receivables and has transitioned all settlement transactions for its Visa playing cards to USDC, to now be capable of settle with Visa 7 days every week, three hundred and sixty five days a 12 months.
Rain supplies backend infrastructure – APIs, compliance layers and settlement logic – that allows fintechs and wallets to construct and launch stablecoin-linked card applications. As demand for actual time, world funds develop, Rain is seeing robust momentum from companions trying to difficulty and use onchain playing cards and settle in stablecoins.
7 Day Stablecoin Settlement
Rain’s proprietary settlement stack brings all authorization logic and settlement onchain. Rain’s know-how stack permits for card transactions on the Visa community to be interoperable with stablecoins throughout a number of blockchains. When a person makes a cost with a Rain-issued Visa card, Visa settles with the service provider acquirer as typical. Rain is programmatically leveraging stablecoins enabling community settlement 7 days every week, three hundred and sixty five days a 12 months.
Tokenized Credit score Card Receivables
Rain’s platform has additionally absolutely tokenized its bank card receivables, enabling extra environment friendly capital administration and transparency throughout the system. These capabilities assist fintechs go to market sooner with new merchandise. Whereas giving shoppers entry to digital-first globally interoperable cost experiences.
Rain can be proud to announce a world first: closed loop bank card receivable financing using stablecoins. Rain works with a community of capital companions – borrowing stablecoins to facilitate community settlement for bank card receivables. By borrowing from and programmatically repaying lenders Rain has been capable of cut back the full value of capital for client and b2b credit score applications whereas offering lenders entry to superior collateral and programmatic repayments powered by sensible contracts. This highly effective assemble has the potential to unlock credit score entry for customers in underdeveloped monetary markets, all whereas unlocking important operational and capital efficiencies for Rain and Rain powered applications.
“By collaborating in Visa’s USDC settlement program, we are actually capable of conduct settlement 7 days every week, three hundred and sixty five days a 12 months, working exterior of conventional banking hours. USDC settlement permits us to be extra capital environment friendly – serving to to cut back the necessity for collateral whereas offering our counterparties the identical stage of safety. This units a brand new normal for issuers and additional enhances digital asset utility,” mentioned Farooq Malik, CEO & Co-founder of Rain.
“Shifting cash throughout borders has at all times been complicated, however blockchain know-how and stablecoins are serving to change that,” mentioned Rubail Birwadker, Head of Progress Merchandise and Partnerships, Visa. “Our work with Rain to assist carry funds onchain and allow seven-day settlement is a giant step towards serving to to simplify world funds.”
That is just the start. Rain continues to discover new methods to reinforce the utility of stablecoins, resembling its asset-agnostic settlement stack and blockchain permissioning, which collectively allow credit score to exist solely onchain. Rain is paving the best way for a extra environment friendly, clear, and accessible monetary ecosystem that reduces working capital, reduces fraud, and drives enhancements in operational outcomes.
Visa Principal Membership
A Visa principal member, Rain permits seamless cost options at greater than 150 million Visa-accepting service provider areas worldwide. By using stablecoins for automated day by day settlement with the Visa community, Rain is doubling down on its mission to combine blockchain know-how with conventional monetary programs, making digital property seamlessly interoperable for on a regular basis use circumstances.
About Rain: Rain is a world card issuing platform powered by stablecoins. The corporate, which was based in 2021 by Farooq Malik and Charles Naut, sponsors and operates card applications in a number of markets as a Visa principal member. Rain is backed by Norwest Enterprise Companions, Lightspeed Enterprise Companions, Galaxy Ventures, Coinbase Ventures and others. Study extra at https://www.rain.xyz/
CONTACT: Charles Yoo-Naut; charles@rain.xyz
