🚨 BREAKING: Rain just launched embedded stablecoin wallets.

Is @Raincards now the hottest growth fintech company? One that just happens to use stablecoins.

Two months ago Rain bought stored-value platform Ansa.

Eight days ago it filed with the OCC for a national trust bank.

Today it put the wallet at the center of its platform, which keeps more of the customer relationship away from Dynamic, Privy and Turnkey.

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Rain is best known as the stablecoin-linked card company. It is becoming an alternative model for card issuing. Period.

The new Rain wallet holds the balance and plugs into everything Rain already runs:

• USDC, USDT and other assets across 12 chains, Base and Solana included
• A Rain-issued Visa or Mastercard card accepted at 175m merchant locations
• USD in through a virtual account, local currency out through payouts to 80+ countries
• Non-custodial today; custodial wallets and earning on balances before year end

Now add the OCC charter (if approved), and they can monetize the custody of assets.

Now add Ansa and uptop and they can make unique loyalty with stablecoins happen.

Now add wallets, and they're more of a one-stop shop.

(Yes, I'm thinking about the nowadd.jpeg meme)

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But in a lot of ways the magic of Rain is that it's a modern tradfi stack, licenses, and just enough stablecoin capability to benefit from them.

Under the hood, Rain has folks like

• Credit Coop (helping finance receivables)
• Lithic, Episode Six and Paymentology for auths with the schemes
• And it holds the Visa and Mastercard memberships itself via Puerto Rico
• And now runs the wallet (the stablecoin interface)
• Plus the trust bank adds custody and issuance.

That's a lot of TradFi work they've done.

I think this is going to be a pattern.

The winners of the next decade in finance will understand where tradfi partnerships unlock much more scale than being stablecoin-only.