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.
Stablecoins
Key products
Chains
- Founded
- 2021
- HQ
- New York, USA
- Stage
- Series C
- Funding
- Series C; ~$88M+ total; valued ~$1.95B (2026)
Related companies

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.

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.

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.

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.

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.

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.
