Rain Expands Stablecoin Payment Network to Over 100,000 Merchants

Rain, a stablecoin-focused card company, has expanded its payment network to over 100,000 merchant locations.

The company's CEO, Farooq Malik, stated that transactions are being processed through Visa's network.

Rain issues cards that allow users to spend stablecoins at traditional retail locations. The transactions are routed through Visa's infrastructure, enabling acceptance at a wide range of merchants without requiring those businesses to integrate crypto-specific systems.

The company is preparing to offer settlement in stablecoins to merchants, providing an alternative to traditional bank settlement and potentially reducing transaction fees and processing times.