Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 11 companies across 5 categories.
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Rain was founded in 2021 as a stablecoin-powered card issuing platform, evolving from a single-product card issuer into a vertically integrated stablecoin payments infrastructure company (accounts, wallets, cards, onramps/offramps, virtual accounts, cross-border payments). Rather than partnering with a third-party BaaS or issuer-processor, Rain acquired direct Visa and Mastercard principal membership, allowing it to sponsor and operate card programs globally while settling on-chain in USDC daily. The 2026 Series C at a $1.95B valuation cements a pivot from crypto-native card issuing to enterprise-grade global payments infrastructure — powering programs like Western Union's Stablecard.
Other Card Issuing providers in the index, by the number of companies that disclose them. A count of public disclosures, not a ranking of the products.
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alt="Ranked #18 of 227 in Card Issuing — Embedded Finance Index 2026">
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<img src="https://www.embeddedfinanceindex.com/api/badge/rain/install" width="1" height="1" alt="" style="display:none">11 companies are linked to Rain in the Embedded Finance Index 2026, through their own public disclosures or Rain's published customer list, including Ethena, Raenest, Western Union, Moneygram, Plasma, Whop, Tangem, Slash, Uptop, Altitude and 1 other.
Rain is an embedded-finance provider in BaaS, Card Issuing, Crypto / Stablecoin, PSP and FX / Payouts. It ranks #18 of 227 Card Issuing providers by linked companies.
Rain has applied for a national trust bank charter for Rain National Trust Bank with the OCC. Status: application filed (2026-10-06).
The most-named Card Issuing alternatives to Rain are Marqeta (66 buyers), Stripe Issuing (32 buyers), Enfuce (25 buyers), Paymentology (23 buyers), Sutton Bank (21 buyers) and Pliant (20 buyers).
Rain is founded in 2021 and headquartered in New York City, NY (with offices in Washington, D.C. and Puerto Rico).
Rain has raised $338M+ in total.
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