- Rain stablecoin payments already reach more than 100,000 merchants through Visa.
- Rain plans to let merchants choose stablecoin settlement instead of three-day processing.
- Rain launched an alliance with 26 members focused on AI agent payments.
More than 100,000 merchants are already accepting stablecoin payments through Rain without knowing it, as transactions settle through Visa’s network. Rain CEO Farooq Malik now says merchants could soon choose direct stablecoin settlement, potentially cutting the wait from three days to same-day processing.
Rain Stablecoin Payments Reach More Than 100,000 Merchants
Rain stablecoin payments are already reaching more than 100,000 merchants through existing Visa payment infrastructure. CEO Farooq Malik said merchants often do not know stablecoins power the transactions.
Those payments currently settle through Visa in roughly three days. Malik said Rain wants merchants to choose stablecoin settlement for faster processing.
The development comes as the global stablecoin supply exceeds $290 billion. Tether’s USDT accounts for more than $183 billion, while Circle’s USDC approaches $72 billion.
Rain has expanded its payments infrastructure alongside that market growth. The company raised $250 million in Series C funding in January at a $1.95 billion valuation.
Rain said it processed more than $3 billion in annualized transactions through stablecoin card programs and wallets. It also supports more than 200 partners.
Rain Stablecoin Payments Move Toward Agentic Commerce
Rain also launched the Agentic Payments Alliance on August 18 with 26 founding members. Visa, Mastercard, Circle, Fiserv, Solana Foundation and Fireblocks are among the participants.
The group will focus on standards for agent identity, authorization and programmable payments. It will also examine regulatory issues surrounding AI agents acting as economic participants.
Malik said the alliance operates as a collective effort rather than a product controlled by one company. Rain said platforms, regulators and technology providers need input into emerging payment standards.
The company is also developing Scoped Cards for AI agents. These tools allow users to define spending limits and other transaction controls.
Rain joined Mastercard as a principal member in May. That membership allows the company to offer stablecoin-powered credit and prepaid cards across more than 210 countries and regions.
Meanwhile, Rain already maintains a relationship with Visa. The company has explored using regulated stablecoins for selected settlement flows.
The company raised $338 million in total funding following its Series C round. Rain has also indicated ambitions to build a long-term independent business rather than pursue an acquisition.
The expansion places Rain stablecoin payments across traditional card networks while the company develops infrastructure for AI-driven commerce.
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