Rain partners with Mastercard to support stablecoin payments

Crypto World News reports that stablecoin infrastructure company Rain has announced a partnership with Mastercard, planning to add Mastercard support to its Visa-based model to enable on-chain settlement. After completing a $250 million Series C funding round, Rain’s valuation reached $1.95 billion. The new partnership will allow Rain to issue credit and prepaid cards and explore ways to use stablecoins for payment settlement within the Mastercard network. Rain’s infrastructure enables businesses to launch compliant payment projects through a single provider and use stablecoins for spending where Visa is accepted, with settlement also occurring on-chain. This collaboration pushes Rain into the “dual-card network” stage, expanding its influence among institutions closely related to Mastercard. Rain stated that the new arrangement focuses on large institutional clients, enabling them to add stablecoin settlement capabilities without changing their existing payment systems.