#How is Rain Expanding Its Stablecoin Infrastructure?
Rain is significantly expanding its stablecoin card infrastructure in collaboration with Mastercard. This strategic partnership allows Rain to access two of the largest card networks globally as the adoption of stablecoin payments grows in traditional finance.
Recently announced, the deal will enable Rain to offer both credit and prepaid cards through Mastercard, adding to its previous partnership only with Visa. Additionally, Rain is working alongside Mastercard to investigate stablecoin-based payment settlement within the card network.
Rain primarily supports companies in launching cards that are backed by users’ stablecoin deposits. This service is particularly beneficial for neobanks aiming to allow their customers to utilize crypto deposits for card transactions instead of relying on traditional dollar balances. Now, with the Mastercard collaboration, Rain can better serve larger institutions that maintain established relationships with major payment networks.
In January, Rain achieved a valuation of $1.95 billion after securing $250 million in a Series C funding round led by ICONIQ. This funding increased its total to over $338 million and boosted its valuation by more than 17 times over ten months.
This partnership emerges during a timely moment as card networks and payment companies strive to develop robust stablecoin infrastructure. In March, Mastercard announced its intent to purchase stablecoin infrastructure firm BVNK for up to $1.8 billion, with $300 million allocated for contingent payments. This acquisition aims to enhance Mastercard's digital asset support across various currencies and payment channels.
BVNK has indicated that the acquisition would enable stablecoin capabilities on Mastercard payment endpoints, providing around-the-clock stablecoin settlement solutions for processors and acquirers, along with facilitating stablecoin transactions through Mastercard's payment gateway.
Rain's expansion also comes in the wake of Stripe’s $1.1 billion acquisition of Bridge in 2025, which aimed to support stablecoin-linked cards across more than 100 countries by enhancing its partnership with Visa.
The adoption of stablecoins has surged following the passage of the US GENIUS Act in July, which clarified the regulatory framework surrounding dollar-backed tokens. This legislative change has prompted significant companies, including Meta, Shopify, Coinbase, Stripe, and SpaceX, to expand or actively use stablecoin payment capabilities, showcasing a clear trend within the financial landscape.