New York, October 13 (Reuters/ PR Newswire ) – Rain, a global stablecoin payment platform, announced on Monday the launch of Rain, namely an embedded stablecoin wallet. Partners will be able to offer this product to users within their own applications, and a balance yield function will also be added by the end of the year.
Rain indicates that the wallet is the core account on its platform. It enables card issuance, rewards, and fund transfers through the same integrated system, allowing users to receive payments, save money, make purchases, and transfer funds from a single balance.
According to Rain, companies that aim to bring stablecoins to users usually hope that they function just like other currencies. To achieve this, the balance of stablecoins needs to be connected to everything that users wish to do. Rain and wallets place this balance at the center of the platform, ensuring that the entire lifecycle of the funds, from arrival to being spent or transferred out, is completed in one place.
Rain For example, a freelancer in Mexico is paid by a U.S. client in dollars. The funds first enter her virtual account and then convert into stablecoins Rain wallet, without the need for manual conversion. On the same day, she can consume at 175 million merchant locations that accept Rain cards, or directly generate income from her balance in various ways within the app. When she needs pesos, she can transfer the funds directly to her local bank account through Rain's global payment feature. The entire experience is completed within one app, supported by the infrastructure provided by Rain.
Rain Product Director Pooja Shah states: "When a company builds products using stablecoins, what users need first is a place to store them. Rain wallets is that place. Since they are integrated into a broader Rain technology stack, the balances can be used immediately once they are credited. Partners can access all the features from Rain, or they can keep their existing wallets and connect them to all other services we operate."
Rain wallets How to integrate into the full-stack platform of Rain
Rain indicates that the wallet is the core account of its full-stack platform; it is where partner users hold stablecoins, and it also serves as the source of balance for all other Rain products. Rain initially enabled the use of stablecoins for consumption through bank cards, but now it provides support for all on-chain experiences via the wallet. Balances can be deposited through virtual accounts or fiat currency channels to recharge cards and be utilized, and then transferred back to bank accounts in local currency. The entire process does not require leaving the partner's application.
For enterprises, this means that only one supplier is needed to integrate the entire cash flow, and each new product added by partners can work in conjunction with the existing products.
Rain also indicates that its infrastructure is designed to be open and interoperable. Partners that have already collaborated with other wallet service providers can connect their wallets to Rain's card services, reward programs, deposit channels, and withdrawal channels. Rain wallets supports a variety of stablecoins and other crypto assets, covering mainstream blockchains, allowing partners to flexibly choose the assets or networks that best suit their business needs.
Availability
Rain indicates that non-hosted Rain and wallets are now available. Hosted wallets and additional revenue-generating features will be launched before the end of the year. For more information, please contact [email protected] or visit https://www.rain.xyz / product / wallets.
Frequently Asked Questions
What are Rain and wallets?
Rain and wallets are embedded stablecoin wallets provided to users within their respective applications by partners of Rain. Each Rain and wallet can directly connect to Rain's card services, virtual accounts, deposit channels, withdrawal channels, and payment functions, allowing users to receive payments, make purchases, and transfer funds from a single stablecoin balance. Unmanaged embedded wallets, which means users are in charge of their own funds, are now available; the managed version of Rain and wallets will be launched before the end of the year.
Rain wallets Which blockchains are supported?
Rain indicates that non-hosted Rain wallets currently supports 12 blockchains: Arbitrum, Avalanche, Base, BNB Smart Chain, Celo, Ethereum, Monad, Plasma, Optimism, Polygon, Solana, and ZKsync.
Rain wallets Which stablecoins will they support?
Rain wallets You can hold USDC, USDT, as well as other stablecoins and crypto assets on supported blockchains. Specific features may vary depending on the network.
What are the benefits of Rain and wallet?
Rain indicates that the wallet connects the user's stablecoin balance with everything they wish to do on the same platform. Funds deposited into the Rain virtual account will enter the Rain wallet in the form of stablecoins, which can be used for consumption at 175 million merchant locations through the Rain card, or transferred to local currency bank accounts via the Rain withdrawal and payment functions without leaving the partner applications. In the future, the Rain plan is to introduce a feature that allows end-users to directly earn income from the stablecoin balances held in their Rain wallet.
If there are no Rain and wallet, can other Rain services be used?
Yes. The Rain card and its associated technology stack can be integrated with the infrastructure already in use by partners, including third-party unmanaged wallets. Partners who choose Rain or wallets can have the card funding feature built-in, thus providing smoother and direct support for card consumption.
About Rain
Rain is a global stablecoin payment platform aimed at enterprises, new banks, platforms, developers, and AI agents. Its technology enables partners to move, store, and use stablecoins in a compliant and instant manner through global payment cards, rewards, deposit/withdrawal channels, wallets, and cross-border pathways. Rain is also a primary member of Visa and Mastercard, and can issue cards available at over 175 million merchant locations in more than 220 countries and regions around the world. Rain is built natively for stablecoins and is trusted by over 100 institutions worldwide, providing a secure and scalable infrastructure that allows funds to flow freely and instantly on a global scale.
Media contact: [ email protected ]
Cards issued by Rain can be used at any merchant that accepts Visa or Mastercard worldwide; the availability of card issuance may vary by market. The availability of wallet, virtual accounts, and future revenue features may vary by jurisdiction. The ability to obtain additional value is provided by third-party providers and is not guaranteed. Rain is a fintech company, not a bank. The banking services for virtual accounts are provided by the partner banks of Rain.
