StablyticsThe Stablecoin Market Map
Directory
Rain logo

Rain

Stablecoin card issuing platform

Visit site

About

Rain is a Visa and Mastercard principal-member card issuer that lets fintechs, exchanges, wallets and Web3 platforms launch card programs settled in stablecoins in near real time, without relying on sponsor banks. It scaled sharply through 2025-2026 and was valued at roughly $1.95B.

Visa/Mastercard principal member settling card spend directly in stablecoins.

Stablecoins

USDCUSDT

Key products

Enterprise card issuingStablecoin settlement

Chains

EthereumSolanaAvalancheBase
Founded
2021
HQ
New York, USA
Stage
Series C
Funding
Series C; ~$88M+ total; valued ~$1.95B (2026)

Related companies

Baanx logo

Baanx

Self-custody crypto card infrastructure

Baanx is a UK-based payments and digital-banking provider that powers white-label, self-custodial crypto and stablecoin cards for wallets and DeFi apps under EMI licenses, bridging IBAN accounts with tokenized assets. It and its regulated entities were acquired by MetaMask/Consensys for ~$175M in late 2025.

Cards & SpendingIssuance & OrchestrationWallets
Coinbase logo

Coinbase

Largest US crypto exchange and USDC co-issuer

Coinbase is the largest US-listed crypto exchange and a primary stablecoin trading venue. It co-founded USDC with Circle via the Centre consortium and earns a share of USDC reserve revenue, while operating Base (its L2), Coinbase Wallet, custody and on/off-ramp services. In 2026 it is positioning around stablecoins, Base, and an 'everything exchange' strategy.

ExchangesFiat-Backed IssuersWallets
Galileo Financial Technologies logo

Galileo Financial Technologies

Payments and card-issuing infrastructure powering fintechs and banks

Galileo is a payments and card-issuing platform owned by SoFi, processing transactions for fintechs and bank partners across more than 160 million accounts. In 2025 Galileo became the distribution backbone for SoFiUSD, SoFi's bank-issued stablecoin, letting partners plug into 24/7 stablecoin settlement and Mastercard-network spending without building blockchain infrastructure themselves.

Cards & SpendingIssuance & Orchestration
Highnote logo

Highnote

Modern card-issuing platform

Highnote is a US card-issuing and acquiring platform used by fintechs and increasingly by stablecoin-native programs to launch cards linked to digital-dollar balances with embedded ledger and program management.

Cards & SpendingIssuance & Orchestration
i2c logo

i2c

Global issuer processing and banking-and-payments platform

i2c is a global card-issuing and core-banking platform providing credit, debit, prepaid and money-movement solutions to banks and fintechs in 200+ countries. Its modular, API-driven stack supports Web3 and crypto programs, including moving cryptocurrency value off exchanges onto payment cards, positioning it as issuer-processing infrastructure for stablecoin-linked card programs.

Cards & SpendingIssuance & Orchestration
Immersve logo

Immersve

Self-custodial wallet-to-card payment rails

Immersve is a New Zealand-based card infrastructure provider that connects self-custodial crypto wallets to the Mastercard network, supplying APIs for card issuance, on-chain settlement, transaction processing and KYC/AML. It powers programs such as Bitget Wallet's crypto-linked Mastercard.

Cards & SpendingIssuance & Orchestration