← Embedded Finance Index 2026/Vendor

Rain

Provider
BaaSCard IssuingCrypto / StablecoinPSPFX / Payouts

Embedded-finance provider tracked in the Embedded Finance Index — disclosed by 9 companies across 5 categories.

rain.xyz ↗Also analysed as a company — its own stack →Open Banking Tracker profile ↗
CategoriesBaaS, Card Issuing, Crypto / Stablecoin, PSP, FX / Payouts
Rank#34 of 211 in Card Issuing
Buyers9 companies
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Who uses Rain
9 companies disclose Rain in their stack
EthenaRaenestWestern UnionMoneygramTangemSlashUptopAgentcardCryptocurrency
Buyer mix · 9 of 9 classified
Fintech / Cross-border payments · 3Fintech / Crypto · 3Fintech / SMB banking · 1Infrastructure / Card issuing · 1Vertical SaaS / Sports Loyalty & Rewards · 1
US · 5EU · 2Canada · 1
What the disclosures say
Ethena
“The card program is managed by Signify Holdings, Inc. d/b/a Rain on behalf of the Issuer' and 'References in these Card Terms to the Issuer refer to Third National.' Card network disclosed as Visa (with Mastercard also referenced as possible network).”
Raenest
“Contact page: 'Banking services are provided by Regent Bank, Member FDIC'; 'The Raenest USD Visa Card is a standalone payment card issued by Rain, a Visa Principal Member'.”
Western Union
“Rain (rain.xyz / Signify Holdings) publicly lists Western Union as a customer — Rain is a stablecoin card-issuing and payments platform.”
Moneygram
“We've partnered with Pathward, N.A., Member FDIC, to provide you with banking products and services.' Rain is publicly listed as the stablecoin card-issuing infrastructure provider for the MoneyGram Card (Visa network) launched September 2026 in Colombia.”
Tangem
“Rain (rain.xyz / Signify Holdings) publicly lists Tangem as a customer — Rain is a stablecoin card-issuing provider and Mastercard/Visa principal member.”
Slash
“BusinessWire Global Cards launch: 'enabled by Rain's global stablecoin-powered card infrastructure'.”
The complete buyer list and each company’s full embedded-finance stack are in the Embedded Finance Index report. Represent Rain? Claim this profile above to unlock your own full list.
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Alternatives to Rain

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.

Marqeta65 buyers →Stripe Issuing31 buyers →Paymentology28 buyers →Enfuce22 buyers →Sutton Bank21 buyers →Galileo20 buyers →i2c18 buyers →Pliant18 buyers →
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Ranked #34 of 211 in Card Issuing — Embedded Finance Index 2026
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