1 month ago
Rain, a crypto paper level that lets users walk stablecoins anyplace Visa (V) is accepted, said it has added enactment for Solana SOL, Tron TRX and Stellar XLM networks.
The update makes it easier for companies gathering connected those chains to motorboat their ain branded cards, backed by either custodial oregon non-custodial wallets, that enactment crossed borders and outgo usage cases. Users tin past wage with stablecoins successful real-world scenarios similar buying groceries, sending concern payouts oregon receiving funds overseas.
The determination underscores the increasing inclination of utilizing blockchain rails for mundane payments, chiefly successful the signifier of stablecoins, a peculiar subset of integer tokens tied to fiat currencies. Stablecoin outgo measurement taken successful February of this twelvemonth amounted to an annualized $72.3 billion, a caller study from Artemis showed.
Rain raised $24.5 cardinal successful a Series A circular successful March and says request for paper programs tied to stablecoins is accelerating, particularly among platforms looking to span integer assets and mundane spending.
The startup claims it's the lone Visa Principal Member offering multi-chain paper issuance retired of the box, meaning developers tin pat into 1 API to rotation retired planetary payments utilizing stablecoins. The steadfast already supports Arbitrum, Optimism and Polygon, but the caller additions bring successful networks known for velocity (Solana), remittances (Stellar) and precocious stablecoin measurement (Tron).
Applications including KAST and Offramp are already putting the level to use, the institution said. KAST, built connected Solana, issues cards that link straight to users’ wallets, enabling real-time spending. Offramp, based connected Tron, is rolling retired cards successful Latin America to grow entree to dollar-based payments.
Read more: Tether, Tron Dominate Fast-Growing Stablecoin Payments Arena, Survey Shows
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