United StatesWhat it does
Rain in four products.
01
Card issuing
Prepaid and credit card programmes funded with stablecoins and accepted wherever Visa and Mastercard are. Rain settles with the card networks daily in stablecoins.
02
Virtual accounts
Named accounts in the end user's legal name with fixed account and routing numbers, on ACH and Fedwire for USD and SPEI for MXN. Incoming money converts to stablecoins.
03
Global Payouts
Payments from one USDC balance that arrive as local currency in more than 80 countries and 50 currencies, at a rate locked before sending.
04
Wallets and ramps
Stablecoin wallets, onramps from money to stablecoins and offramps back to local currency, embedded in the client's own app.
Who uses it
The companies that build on Rain.
Types of client
- Fintechs and neobanks
- Crypto exchanges and DeFi apps
- Marketplaces
- Payroll platforms
- Remittance companies
Clients Rain names
- MoneyGram
- Western Union
Coverage
Where the money can go.
- Payout countries
- More than 80
- Payout currencies
- 50
- Virtual account rails
- ACH and Fedwire (USD), SPEI (MXN)
- Card networks
- Visa and Mastercard, as a principal member of both
- Cards not issued in
- 17 countries
Show all 17
- Belarus
- China (mainland)
- Cuba
- India
- Iran
- Iraq
- Israel
- Myanmar
- Nepal
- Nicaragua
- North Korea
- Russia
- Syria
- Turkey
- Ukraine
- Venezuela
- Vietnam
- US virtual accounts not open to
- Residents and companies of 26 places
Show all 26
- Afghanistan
- Belarus
- Burma
- Central African Republic
- China
- Cuba
- Democratic Republic of Congo
- Ethiopia
- Hong Kong
- Iran
- Iraq
- Kosovo
- Libya
- Mali
- Montenegro
- Nicaragua
- North Korea
- Russia
- Serbia
- Somalia
- South Sudan
- Sudan
- Syria
- Ukraine
- Venezuela
- West Bank
Licences
Rain holds no licence of its own.
Rain says it is a financial technology company, not a bank, exchange or custodian, and that it does not hold deposits or provide FDIC insurance. Its payment products are provided with licensed partners.
Licensed partners Rain names
Card issuer (US)
Cross River Bank, member FDIC
Issues the Visa debit cards offered through Rain's US programme, under a licence from Visa U.S.A. Inc.
Bank holding the money
SSB, member FDIC
Provides the banking services. Money deposited at SSB is FDIC-insured up to $250,000 per depositor.
For your business
Paid with a stablecoin card? It may run on Rain.
Card programmes from MoneyGram, Western Union and others run on Rain. Three things to check:
Who issues the card
In the US, Rain's Visa debit cards are issued by Cross River Bank. Elsewhere the card terms name the local issuer.
Stablecoins are not deposits
Rain holds no deposits. A stablecoin balance behind a card is not FDIC-insured; only money held at SSB is.
Keep a second account
Two apps on the same partner can fail together. A second account issued by a different institution keeps salaries and suppliers paid.
FAQ
Your questions, answered.
Can my company open an account with Rain?
No. Rain's platform is sold to fintechs and other platforms through a demo and a sales conversation. Its own product for companies, Rain Spend, is a corporate card backed by stablecoin collateral: it has no account details for receiving payments and fiat withdrawals are not supported yet, so it is not a business account.
Is Rain a bank?
No. Rain says it and its affiliates are not banks, exchanges or custodians. Its US cards are issued by Cross River Bank and banking services are provided by SSB, both members of the FDIC.
Where can Rain cards not be issued?
Rain's prohibitions list bars cards for cardholders living or registered in 17 countries: Belarus, China (mainland), Cuba, India, Iran, Iraq, Israel, Myanmar, Nepal, Nicaragua, North Korea, Russia, Syria, Turkey, Ukraine, Venezuela, Vietnam.
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