Rain Expands Stablecoin Visa Cards to Solana, Tron and Stellar as Digital Payment Gains Momentum
Rain, a cryptocurrency card platform enabling stablecoin spending at any Visa-accepting location, has expanded its network support to include Solana (SOL), Tron (TRX), and Stellar (XLM). This enhancement simplifies the process for companies building on these blockchains to launch their branded cards, compatible with both custodial and non-custodial wallets, facilitating cross-border transactions and diverse payment applications. Users can now seamlessly utilize stablecoins for everyday purchases, business payments, and international fund transfers.
This development highlights the burgeoning trend of integrating blockchain technology into everyday payment systems, primarily through stablecoins – digital tokens pegged to fiat currencies. February 2024 witnessed an annualized stablecoin payment volume of $72.3 billion, according to a recent Artemis report, indicating substantial market growth.
Rain, having secured $24.5 million in Series A funding this past March, reports a surge in demand for stablecoin-linked card programs, particularly among platforms aiming to bridge the gap between digital assets and conventional spending. The company positions itself as the sole Visa Principal Member offering a readily available, multi-chain card issuance solution. Developers can leverage a single API to deploy global stablecoin payments, streamlining the integration process.
Rain’s platform already supports Arbitrum, Optimism, and Polygon, but the addition of Solana, Tron, and Stellar significantly broadens its reach. Solana’s speed, Stellar’s remittance capabilities, and Tron’s high stablecoin transaction volume make them valuable additions. Existing applications like KAST and Offramp are already utilizing Rain’s services. Solana-based KAST provides cards directly linked to user wallets, enabling instant spending. Tron-based Offramp is expanding access to dollar-based payments in Latin America through its card program. This expansion underscores Rain’s commitment to facilitating accessible and efficient global stablecoin payments.
