Rain expands stable coin card network with Mastercard partnership
Rain is expanding its MasterCoin card infrastructure with MasterCard as Statcoin payments move into traditional finance for both of the startup's largest card networks.
The company has announced that it will now offer credit and prepaid cards through MasterCard, having previously only worked with Visa. Rain said it is working with MasterCard to explore stablecoin-based payments with its card network.
Rain helps companies launch stablecoin deposit cards with consumers, including neobanks, to settle card payments instead of traditional dollar accounts. The new MasterCard partnership gives Rain a way to serve large institutions that have long-term relationships with a specific payment network.
Rain was valued at $1.95 billion in January after raising $250 million in a Series C round led by ICONIQ. The round raised its total funding to more than $338 million, raising prices more than 17 times in 10 months.
The partnership comes as card networks and payment companies race to build a stablecoin infrastructure. In March, MasterCard announced it would buy stablecoin infrastructure firm BVNK for up to $1.8 billion, including $300 million in contingency fees. MasterCard said the deal expands its support for digital assets across currencies, payment methods and regions.
BVNK said the acquisition will enhance stablecoin capabilities, including MasterCard payment endpoints for 24/7 stablecoin payments for processors and buyers, as well as Statcoin check withdrawals through the MasterCard payment funnel.
Rain's expansion also includes Stripe's $1.1 billion acquisition of Bridge by 2025 and Bridge's expanded Visa partnership, which is designed to support stablecoin-linked cards in more than 100 countries.
Stablecoin adoption accelerated after the United States passed the GENIUS Act in July, creating a clear regulatory framework for dollar-backed tokens. Since then, major companies including Meta, Shopify, Coinbase, Stripe and SpaceX have expanded or used stablecoin payment capabilities.
Disclosure: This article was edited by Stefano Gomez. See our Editorial Policy for more information on how we create and review content.
