Rain and Toku Team Up to Innovate Real-Time Payroll with Stablecoin Technology

Revolutionizing Payroll with Stablecoins



In an era where digital transformation is essential, Rain has stepped up by joining forces with Toku, a known leader in compliant token payroll solutions. Together, they are introducing the first real-time payroll system utilizing stablecoins designed to cater to global workforces. This partnership aims to tackle one of the last holdouts of outdated payment systems—payroll processing.

The Significance of the Partnership



Rain operates an innovative card issuing and payment platform that is fully focused on stablecoins. By partnering with Toku, they are addressing a pressing need for modern payroll solutions that ensure compliance while optimizing efficiency. Farooq Malik, CEO and Co-founder of Rain, emphasizes that "payroll has remained one of the last major financial flows stuck in outdated systems."

This new integration allows firms to provide payroll instantaneously in stablecoins across more than 100 jurisdictions. Toku handles essential functions such as calculating net pay, managing tax withholdings, and ensuring compliance with labor laws, further streamlining payroll operations. This collaboration is not merely a technological upgrade; it's a response to the growing demand for effective solutions that can manage the complexities of modern financial operations.

Enhancing Payroll Functionality



The integrated platform offers several features that set it apart:
  • - ### Compliant Cross-Border Payroll
Employers can manage payouts in stablecoins such as USDG, USDC, and RLUSD while leveraging existing trusted payroll platforms like ADP, Workday, and Gusto. This means organizations don't need to overhaul their current systems to benefit from the advantages of cryptocurrency payments.
  • - ### Real-Time Onchain Settlement
With Rain’s infrastructure, funds can be routed quickly to various wallets and custodial accounts, clearing delays and lowering transaction costs. This shift eliminates the friction associated with legacy payment systems and enhances the customer experience by ensuring payments are processed instantly.
  • - ### Earned Wage Access
Workers can receive their paychecks in real-time through their controlled wallets, providing transparency and immediate access to their earnings. This functionality aligns with the requirements of modern workers who wish to utilize their wages seamlessly in real-world transactions, with Rain-issued cards accepted at over 150 million merchants worldwide.

Ken O'Friel, CEO and Co-founder of Toku, stated, "Fiat payroll still moves on rails built in the 1970s. Stablecoin payroll has the ability to unleash a fundamental restructuring of corporate cash management." This innovative approach paves the way for organizations to better manage their cash flows, embracing a more agile financial framework.

The ongoing regulatory momentum surrounding stablecoins, boosted by the GENIUS Act, highlights the increasing interest among enterprises keen to integrate digital asset solutions. The collaboration exemplifies how Rain and Toku are not just addressing existing payroll challenges but are also paving the way for a future where compliance, efficiency, and technology coalesce smoothly.

About Rain and Toku



Rain is a pioneer in the card issuance and payments landscape, focusing exclusively on stablecoins and enabling partners to establish their branded card programs seamlessly and compliantly. Through their API, Rain provides a customized issuance solution that can adapt to both custodial and non-custodial wallets across a variety of blockchain networks.

On the other hand, Toku plays a crucial role in facilitating global token and stablecoin payroll services. Its technology allows businesses to pay their employees in crypto while maintaining compliance with the current regulations, streamlining the entire payroll process.

As these two companies continue to innovate, they are proving that modern payroll processing is not only possible but essential for today’s global workforce.

Topics Financial Services & Investing)

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