Key Data

• Trading Name: Rain
• Legal Entity: Signify Holdings, Inc
• Activities: Stablecoin-based Card Issuer
• Location: New York, USA
• Regulations: white labeled 
• Key People: Charles Naut/Farooq Malik

​Rain is a financial technology company specializing in providing integrated card issuance solutions for global platforms.By leveraging modern APIs and flexible infrastructure, Rain enables businesses to launch tailored card programs that facilitate seamless transactions across multiple markets.

Key Features and Services:

• API Issuance: Rain’s infrastructure allows for the issuance of cards in various markets through a single integration, simplifying the process for businesses aiming for global reach. ​

• Global Acceptance: As a Visa network issuer, Rain’s cards are accepted at over 100 million merchants worldwide, ensuring broad usability for end-users.

• Hosted Experiences: The company offers customizable hosted flows, enabling faster program launches tailored to specific business needs. ​

• Multi-Market Support: Rain facilitates shipping to multiple countries and supports seamless USD transactions, catering to a diverse international clientele.

• Enhanced Ledgering and Controls: Clients benefit from enriched merchant data, detailed ledgering, and granular transaction controls, allowing for precise financial management and oversight.

• Custom Branding and Elite Servicing: Rain provides branding solutions for seamless integration with client identities and offers comprehensive services, including KYC/KYB management, transaction monitoring, and dispute adjudication.

Rain offers a stablecoin-based Visa card that lets users spend crypto like regular money anywhere Visa is accepted. Behind the scenes, Rain instantly converts stablecoins (like USDC) into fiat at the time of purchase, allowing for seamless payments without users needing to manually cash out or swap. This makes it easy for businesses and platforms to offer crypto-powered cards with global reach, real-time transaction processing, and full regulatory compliance, while users enjoy the stability of stablecoins and the convenience of traditional cards.

Regulation

Rain operates under a regulated framework by partnering with licensed financial institutions in various regions. As a Visa Principal Member, Rain is authorized to issue cards directly on the Visa network. While it is not directly regulated as a bank or financial institution itself, it ensures compliance by managing KYC, KYB, and AML processes and working with regulated issuers to meet local financial laws and standards.

Funding

Rain Cards has raised a total of $30.5 million to date. In 2025, the company secured $24.5 million in a funding round led by Norwest Venture Partners, with participation from Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka. This follows an earlier $6 million seed round in 2022, backed by investors like Coinbase Ventures, Lightspeed Venture Partners, and Balaji Srinivasan. The fresh capital is being used to expand Rain’s stablecoin-powered card issuing platform globally and strengthen its footprint across the U.S., Europe, and Latin America.

Key People

​Rain was founded in 2021 by Farooq Malik and Charles Naut, who continue to lead the company. Farooq Malik serves as the Chief Executive Officer (CEO), bringing experience in financial technology and a vision for integrating digital assets with traditional financial systems. Charles Naut holds the position of Co-Founder, contributing his expertise in technology development and product innovation. Their combined leadership has been instrumental in Rain’s growth, including securing significant funding and achieving Visa principal membership.

Rain – Customer Reviews Summary

• App Store Rating: 4.8/5 on Apple App Store (19,000+ reviews)

• Google Play Rating: 4.7/5 on Google Play (17,000+ reviews)

Compliance Overview

• Visa Principal Member: Yes – can issue cards directly

• KYC / KYB / AML: In place for users and businesses

• Licensing: Not directly regulated, operates via licensed partners

• Regulatory Authority: Not specified publicly

• PCI Compliance: Likely, but not officially confirmed

Summary: Rain isn’t directly regulated but ensures compliance through trusted partners and standard financial checks like KYC and AML.

Rain Cards – Rating & Conclusion

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Conclusion:

Rain Cards scores high on both compliance and customer satisfaction. With strong Visa integration, stablecoin-powered solutions, and highly rated user experience, Rain stands out as a reliable and user-friendly fintech platform.