Rain

Rain is a global stablecoin infrastructure platform that enables enterprises, neobanks, platforms, and developers to move, store, and use stablecoins instantly through payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work at 150+ million merchants in over 150 countries, settling 100% of card payment volume directly in stablecoins on the Visa network.

Company Overview

Rain was founded in 2021 by Farooq Malik (CEO) and Charles Naut (CTO) through the On-Deck Founder Fellowship. The company is headquartered in New York and operates under the legal entity Signify Holdings, Inc. Malik previously served as treasurer and investment officer at the North American Development Bank, bringing deep expertise in financial regulation and cross-border transactions. Naut was a principal engineer at Intuit after his company PlaybookHR was acquired.

The company has raised $88.5 million in total funding across three rounds:

• Series B (August 2025): $58M led by Sapphire Ventures, with Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest
• Series A (March 2025): $24.5M led by Norwest Venture Partners
• Seed: Led by Lightspeed Venture Partners with Coinbase Ventures, Canonical Crypto, and others

Rain has grown transaction volume 10x since January 2025 and serves 150+ enterprise partners globally. Notable customers include Nuvei, Avalanche, Dakota, Nomad, ether.fi, Spritz, Wallbit, KAST, Takenos, Arculus, Trustyfy, Meru, Exa App, Offramp, and Lootrush.

Products & Services

Cards API

Rain offers full-stack stablecoin-powered card issuance through a developer-friendly API:

• Issue branded physical and virtual Visa cards
• Cards accepted at 150M+ merchants globally
• Self-custody and custodial wallet support
• Real-time authorization with stablecoin settlement
• Most partners launch in 6-8 weeks (some in under 2 weeks)
• Three service tiers with varying support levels and interchange sharing

Money-In (On-Ramps)

• Convert fiat to stablecoins in seconds
• Supports card funding, account top-ups, and payroll
• Single API for compliant on-ramp integration

Accounts & Wallets

• Embedded digital dollar wallets for any app or platform
• Compliant stablecoin storage and management
• Optional yield features for stored value

Money-Out (Off-Ramps & Payouts)

• Real-time cross-border payout rails
• Stablecoin-to-fiat conversion
• Multi-currency off-ramps in 150+ countries
• Advanced treasury controls

Rewards (Uptop)

Rain acquired Uptop in November 2025 to integrate native rewards into card programs:

• Card-linked loyalty and rewards marketplace
• Onchain architecture on Avalanche
• Powers programs for Cleveland Cavaliers, Detroit Pistons, LSU Athletics, Empire State Building
• Sponsors see 21% lift in spend and 51% boost in retail sales

Supported Blockchains & Stablecoins

Stablecoins:

• USDC, USDT, DAI, PYUSD
• Custom branded stablecoins (e.g., FRNT - Wyoming state stablecoin)

Blockchain Networks:

• Ethereum
• Solana
• Stellar
• Tron
• Base
• Polygon
• Optimism
• Avalanche
• Arbitrum
• ZKsync

Rain settles directly with Visa in USDC, including on weekends and holidays, enabling lower idle capital requirements and more efficient operations.

Key Partnerships

• Visa: Principal Member status enabling direct card program sponsorship
• Western Union (November 2025): Partnership to convert stablecoins to cash at WU locations globally via Digital Asset Network
• Lithic (September 2025): Strategic partnership for global issuer processor capabilities
• Nuvei: Powers stablecoin-based B2B payments for LATAM merchants
• Wyoming Stable Token Commission: Launched FRNT, the first state-issued stablecoin with Rain-powered Visa cards

Target Users

Ideal For:

• Fintechs building neobank or payment products
• Web3 companies needing card programs for crypto treasuries
• Global platforms requiring cross-border payroll
• E-commerce marketplaces with international seller payouts
• Enterprises seeking stablecoin-powered expense management
• DeFi protocols looking to add card utility
• Corporate treasury teams managing digital assets

Use Cases:

• B2B merchant payouts (Nuvei model)
• Consumer dollar accounts (Nomad - Brazil)
• DeFi bank cards (ether.fi)
• Crypto-to-fiat corporate cards
• Global payroll disbursement
• Cross-border remittances

Security & Compliance

• SOC 2 Compliant: Enterprise-grade security standards
• PCI DSS Certified: Payment card industry compliance
• Audited Smart Contracts: Regular third-party security audits
• Built-in KYC/AML: Compliance tools integrated into the platform
• Program Oversight: End-to-end regulatory support

Rain is not a bank, exchange, or asset custodian. The company is a financial technology provider that partners with licensed institutions for payment products. Cards are issued through partners licensed in their respective jurisdictions.

Pricing

Rain offers three service tiers with custom pricing:

• Tier 1 (Entry): Basic support, standard program features
• Tier 2 (Growth): Enhanced support, greater program flexibility
• Tier 3 (Enterprise): Full support, maximum flexibility, highest interchange share

Specific pricing is provided after consultation based on program requirements. No public fee schedules are available—contact Rain for a tailored proposal.

Geographic Availability

• Card Issuance: Available across Americas, Latin America, Caribbean (including Cayman Islands, BVI, Panama)
• Card Acceptance: 150+ countries wherever Visa is accepted
• Cross-Border Payouts: Global coverage
• Primary Markets: USA, Latin America, Caribbean
• Expanding To: Europe (with Visa Principal Member expansion)

Pros

• Visa Principal Member enables direct card program sponsorship without bank intermediaries
• Full-stack solution: on-ramps, wallets, cards, off-ramps in one API
• Multi-chain support across major blockchain networks
• Rapid deployment (6-8 weeks typical, under 2 weeks possible)
• 24/7 stablecoin settlement including weekends and holidays
• Strong enterprise traction with 150+ partners
• Western Union partnership for global cash access

Cons

• Enterprise-focused with custom pricing (not for individual users)
• No direct consumer product (B2B infrastructure only)
• Limited public documentation on specific fees
• US and LATAM focus; European expansion still developing
• Requires technical integration capability

Alternatives

• Bridge.xyz (Stablecoin orchestration and issuance APIs)
• Karta.io (Stablecoin-backed Visa cards for businesses)
• Marqeta (Traditional card issuing platform)
• Lithic (Card issuing APIs)
• Zero Hash (Crypto infrastructure)