#USA #New York #Rain #Stablecoin Payments #global payouts

Rain Expands Global Payouts to More Than 80 Countries

In a significant development for the financial technology landscape, Rain has announced an expansion of its global payout capabilities, enabling transactions in over 80 countries across 50 different currencies. This advancement builds on Rain's existing portfolio, which offers partners the ability to manage funds through virtual accounts, onramps, and offramps, providing users with more avenues to utilize their stablecoins.

The primary goal of this new offering is to streamline business transactions across borders, whether they be business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer (C2C), or consumer-to-business (C2B). Partners can now send funds directly to recipients’ local bank accounts in their respective currencies, eliminating the complexities of currency conversion that often accompany international payments.

Enabling Seamless Transactions

According to Rain, the newly launched global payouts feature addresses a long-standing gap in the last-mile delivery of stablecoin payments. Instead of needing a separate banking relationship in each market, business partners can now utilize Rain's unified platform—thus simplifying the process of managing payments internationally.

As explained by Charles Yoo-Naut, CTO and co-founder of Rain, this convergence allows partners to handle payments using a singular stablecoin balance. For instance, a business in Bogotá can effortlessly send payments to suppliers in Lisbon, while a contractor in Buenos Aires can pay their landlord in local pesos.

Benefits for Partners

Rain's global payout capabilities are especially beneficial for various market segments:

• - Neobanks can now offer seamless payment services to their customers without establishing local banking partnerships that can be both costly and complicated.
• - Marketplaces operating on a global scale can make payouts to sellers and delivery personnel in local currencies, all from a centralized stablecoin account, eliminating the need to prefund accounts in multiple countries.
• - Contractor platforms can facilitate payments to freelancers who may be located in different countries, achieving efficiency and expediting payment times.
• - Businesses can easily pay their suppliers in foreign markets without requiring those vendors to accept stablecoins.

Rain's capability for global payouts is initially available to select beta partners, with plans to extend the offering to a broader audience by year-end. As it stands, the platform intends to expand its reach to cover 95 countries and over 60 currencies by the close of the year.

Built for Flexibility

One notable aspect of Rain’s approach is its ability to provide partners with a flexible money movement solution that they can tailor to their specific needs. In essence, it is not merely a payout system. Instead, it encompasses a full range of functionalities, from issuing global payment cards to managing rewards, embedded wallets, and on/offramps.

The potential applications of Rain’s technology are vast. By employing a single platform for all their cross-border payment needs, partners can significantly reduce operational friction while enhancing their capabilities in the ever-evolving digital payment space.

Conclusion

As the global economy continues to shift towards more digitized financial solutions, Rain’s innovative approach to global payouts signals a major advancement in how businesses manage their international transactions. By leveraging the efficiencies of stablecoin technology, Rain not only simplifies the payment process but also broadens the horizons for organizations eager to thrive in a global landscape.

For partners interested in joining the beta program or learning more, Rain encourages contact through their partnership channels. Ultimately, this expanded capability underscores Rain’s commitment to transforming the realm of stablecoin payments, allowing businesses to navigate the complexities of international transactions with ease.

To learn more about Rain and its offerings, visit their official website at www.rain.xyz.