Rain Partners With Visa for Onchain Credit Card Settlement via USDC

In New York, on May 1, 2025, Rain announced its partnership with Visa to accelerate onchain credit card settlements using USDC stablecoin. Rain has joined Visa's pilot program for stablecoin settlement, tokenizing its credit card receivables to enable settlement with Visa 7 days a week, 365 days a year. This initiative aims to enhance the utility of digital assets in everyday financial transactions globally. Rain's technology allows Visa network card transactions to be interoperable with stablecoins across multiple blockchains. The platform tokenizes credit card receivables, improving capital management and transparency. Rain also introduced closed-loop credit card receivable financing using stablecoins, reducing capital costs for credit programs. According to Farooq Malik, CEO of Rain, USDC settlement allows for more capital efficiency and reduces the need for collateral. Rubail Birwadker, Head of Growth Products and Partnerships at Visa, stated that this collaboration simplifies global payments by bringing payments onchain and enabling seven-day settlement.