Rain and Visa Partner to Accelerate Onchain Credit Cards

Showcasing blockchain's potential to enable everyday financial transactions 

NEW YORK, May 1, 2025 /PRNewswire/ -- Rain, a global card issuing platform built for stablecoins, is helping usher in a new era of onchain finance through its work with Visa.

Today, Rain announced it has joined Visa's pilot program for stablecoin settlement. Rain has fully tokenized its credit card receivables and has transitioned all settlement transactions for its Visa cards to USDC, to now be able to settle with Visa 7 days a week, 365 days a year.

Rain provides backend infrastructure – APIs, compliance layers and settlement logic – that enables fintechs and wallets to build and launch stablecoin-linked card programs. As demand for real time, global payments grow, Rain is seeing strong momentum from partners looking to issue and use onchain cards and settle in stablecoins.

7 Day Stablecoin Settlement

Rain's proprietary settlement stack brings all authorization logic and settlement onchain. Rain's technology stack allows for card transactions on the Visa network to be interoperable with stablecoins across multiple blockchains. When a user makes a payment with a Rain-issued Visa card, Visa settles with the merchant acquirer as usual. Rain is programmatically leveraging stablecoins enabling network settlement 7 days a week, 365 days a year.  

Tokenized Credit Card Receivables
Rain's platform has also fully tokenized its credit card receivables, enabling more efficient capital management and transparency across the system. These capabilities help fintechs go to market faster with new products. While giving consumers access to digital-first globally interoperable payment experiences.

Rain is also proud to announce a world first: closed loop credit card receivable financing utilizing stablecoins. Rain works with a network of capital partners - borrowing stablecoins to facilitate network settlement for credit card receivables. By borrowing from and programmatically repaying lenders Rain has been able to reduce the total cost of capital for consumer and b2b credit programs while providing lenders access to superior collateral and programmatic repayments powered by smart contracts. This powerful construct has the potential to unlock credit access for users in underdeveloped financial markets, all while unlocking significant operational and capital efficiencies for Rain and Rain powered programs.

"By participating in Visa's USDC settlement program, we are now able to conduct settlement 7 days a week, 365 days a year, operating outside of traditional banking hours. USDC settlement allows us to be more capital efficient – helping to reduce the need for collateral while providing our counterparties the same level of protection. This sets a new standard for issuers and further enhances digital asset utility," said Farooq Malik, CEO & Co-founder of Rain.   

"Moving money across borders has always been complex, but blockchain technology and stablecoins are helping change that," said Rubail Birwadker, Head of Growth Products and Partnerships, Visa. "Our work with Rain to help bring payments onchain and enable seven-day settlement is a big step toward helping to simplify global payments."

This is just the beginning. Rain continues to explore new ways to enhance the utility of stablecoins, such as its asset-agnostic settlement stack and blockchain permissioning, which together enable credit to exist entirely onchain. Rain is paving the way for a more efficient, transparent, and accessible financial ecosystem that reduces working capital, reduces fraud, and drives improvements in operational outcomes.

Visa Principal Membership

A Visa principal member, Rain enables seamless payment solutions at more than 150 million Visa-accepting merchant locations worldwide. By utilizing stablecoins for automated daily settlement with the Visa network, Rain is doubling down on its mission to integrate blockchain technology with traditional financial systems, making digital assets seamlessly interoperable for everyday use cases.

About Rain: Rain is a global card issuing platform powered by stablecoins. The company, which was founded in 2021 by Farooq Malik and Charles Naut, sponsors and operates card programs in multiple markets as a Visa principal member. Rain is backed by Norwest Venture Partners, Lightspeed Venture Partners, Galaxy Ventures, Coinbase Ventures and others. Learn more at https://www.rain.xyz/

CONTACT: Charles Yoo-Naut; charles@rain.xyz