Rain Stablecoin Card Issuing and Wallet Platform

Rain is a stablecoin payments platform for enterprises, co-founded and led by CEO Farooq Malik. It is a Visa and Mastercard principal member and lets companies launch stablecoin-powered cards, manage digital dollar accounts and move money across borders through a single API. Rain Products, Inc. acts as programme manager, with Visa debit cards issued by Cross River Bank and banking services from SSB.

The platform covers the full flow: onramps convert fiat to stablecoins, embedded wallets hold balances, virtual and physical cards with Apple Pay and Google Pay spend them wherever Visa and Mastercard are accepted, and offramps return funds to local currency. Card transactions settle with the networks daily in stablecoins. Modules include card issuing for prepaid or credit programmes, corporate cards, rewards, virtual accounts and global payouts to more than 80 countries in 50 currencies. Western Union's Stablecard and the MoneyGram Card run on Rain.

• Card issuing: Launches virtual and physical prepaid or credit cards through one API.
• Embedded wallets: Holds stablecoin balances inside the partner's own app.
• Onramps and offramps: Converts between fiat and stablecoins.
• Stablecoin settlement: Settles card transactions with networks daily in stablecoins.
• Global payouts: Sends funds to more than 80 countries in 50 currencies.
• Corporate cards and rewards: Adds business spending cards and loyalty programmes.

A remittance company serving Vietnamese workers abroad can issue cards so families or workers spend received funds directly. A regional fintech can add stablecoin wallets and cards to its app without building issuing infrastructure. A company paying overseas contractors can issue corporate or payout cards funded in stablecoins.

Remittance companies, fintechs and platforms can launch card programmes accepted at more than 175 million merchant locations without becoming card issuers themselves. One API replaces separate vendors for wallets, onramps, cards and payouts. SOC 2 Type II and PCI DSS controls and a compliance-led design were cited by Western Union and MoneyGram when selecting Rain.

Large remittance companies are moving onto stablecoin rails and pairing them with cards so recipients can spend funds directly. For remittance-receiving countries in Southeast Asia, including Vietnam, stablecoin-linked cards and wallets offer a new channel alongside bank and cash payout.

Visa and Mastercard principal member; SOC 2 Type II and PCI DSS compliant. Rain Products, Inc. is programme manager, with cards issued by Cross River Bank and banking services from SSB, both FDIC members. Valued at 1.95 billion USD in a January 2026 fundraise, formed a partnership with Episode Six in April 2026 beginning with Asia-Pacific expansion, and acquired merchant wallet startup Ansa in August 2026. CEO and co-founder: Farooq Malik.