Rain launches its stablecoin wallets.
Rain is extending its stablecoin card infrastructure to include wallets by revealing its own stablecoin wallet stack. It will seek to add stablecoin earn for balances in Q4 2026.
This is a non-custodial wallet feature at present, while upcoming custodial wallets for further rewards are expected later on. 12 blockchain networks are supported.
One takeaway is that Rain is going after the entire stablecoin neobanking sector.
The other is that it just launched a product that works independent (but closely linked) to its card program. This creates a flywheel for those willing to try out more of Rain’s solutions.
Recently, Rain introduced stablecoin rewards for its card program, and launched the MoneyGram stablecoin card.
Why Stablecoin Wallets Are Needed
Stablecoin wallets will be needed as adoption increases.
Their ability to engage, swap, accept, deposit, and convert into other stablecoins, digital assets, as well as tokenized deposits becomes even more important as demand grows.
Many companies in the space are already interested in ways to earn on idle treasury or operating cash balances. Indeed, there are many partnerships with platforms such as Morpho and Aave.
Rain already has a client base through its existing card program. It global reach is enabled by having a principal membership with both Visa and Mastercard.
And most importantly, Rain acquired Ansa a few months ago and other companies such as UpTop in 2025 to embed loyalty and reward programs into its own evolving stack.
Vendor Risk and Non-Custodial Stablecoin Wallets
With this launch comes the question of counterparty risk.
Although more clients can now operate their global stablecoin balances, especially with Rain’s payouts, funding, and card integrations, it creates a vendor risk for the space.
That means that any large issues with Rain’s ability to operate can have a butterfly effect. Today Rain accounts for most of the stablecoin cards issued per PaymentScan data.
Recently, Avici’s card program lying on top of Rain’s infrastructure suffered an incident, as well as others. An outdated smart contract on the Solana network was exploited.
Rain reacted swiftly and helped the affected card providers with the redemption of user funds, yet this was a lesson for the future.
While the team just released a non-custodial wallet SDK, it is also aiming to launch a custodial version, which could create a different type of risk for clients relying on every part of its stack.
