Visa is taking another major step into the world of blockchain and digital assets by partnering with Rain, a global card issuing platform built for stablecoins. This collaboration aims to make blockchain-powered credit cards more accessible and efficient, showcasing how blockchain technology can power everyday financial transactions.
Rain has officially joined Visa’s pilot program for stablecoin settlement, marking a significant milestone in the evolution of onchain finance. By fully tokenizing its credit card receivables and transitioning all settlement transactions for its Visa cards to USDC (a leading stablecoin), Rain can now settle with Visa every day of the year—24/7, 365 days—without being limited by traditional banking hours.
Founded in 2021 by Farooq Malik and Charles Naut, Rain is a global card issuing platform powered by stablecoins. As a Visa principal member, Rain sponsors and operates card programs in multiple markets, driving the integration of blockchain technology into mainstream financial services.
Rain’s backend infrastructure provides APIs, compliance layers, and settlement logic that enable fintechs and digital wallets to launch stablecoin-linked card programs quickly and securely. As global demand for real-time payments grows, Rain is seeing increased interest from partners eager to issue onchain cards and settle in stablecoins.
Rain Pro service. Image credits: Rain webpage.
Rain’s proprietary settlement technology brings all authorization and settlement processes onchain. This means that when a user makes a payment with a Rain-issued Visa card, the transaction is settled with the merchant as usual, but the backend uses stablecoins for settlement. This allows for seamless, real-time payments across multiple blockchains, making global transactions faster and more efficient.
Tokenized credit card receivables
Rain has also fully tokenized its credit card receivables, which improves capital management and transparency. This innovation helps fintechs bring new products to market faster and gives consumers access to digital-first, globally interoperable payment experiences.
In a world-first, Rain has introduced closed-loop credit card receivable financing using stablecoins. By working with a network of capital partners, Rain borrows stablecoins to facilitate network settlement for credit card receivables and repays lenders programmatically using smart contracts. This approach reduces the cost of capital for credit programs and provides lenders with superior collateral and automated repayments. It also has the potential to expand credit access in underdeveloped financial markets.
Industry leaders weigh in
Farooq Malik, CEO and Co-founder of Rain, highlighted the benefits: “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.”
Rubail Birwadker, Head of Growth Products and Partnerships at Visa, added, “Moving money across borders has always been complex, but blockchain technology and stablecoins are helping change that. Our work with Rain to help bring payments onchain and enable seven-day settlement is a big step toward helping to simplify global payments.”
Rain continues to innovate, exploring new ways to enhance stablecoin utility with features like asset-agnostic settlement and blockchain permissioning. These advancements are paving the way for a more efficient, transparent, and accessible financial ecosystem—reducing working capital needs, minimizing fraud, and improving operational outcomes.
As a Visa principal member, Rain enables seamless payments at over 150 million Visa-accepting merchants worldwide. By leveraging stablecoins for automated daily settlement, Rain is helping to bridge the gap between blockchain technology and traditional finance, making digital assets usable for everyday purchases.
Sources:
Chainwire – https://chainwire.org/2025/05/01/rain-and-visa-partner-to-accelerate-onchain-credit-cards/?_gl=1*an2w80*_up*MQ..
