How Rain is Powering the $415B Digital Finance Market in Latin America

In recent years, LATAM has emerged as a vibrant hub for digital finance, with stablecoins playing a pivotal role in this transformation. Rain is committed to this evolution by enabling partners to onboard 600M+ people in LATAM with a single API connection, empowering businesses and individuals to utilize and spend stablecoins more effectively and seamlessly.

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The Rise of Stablecoins in LATAM

Stablecoins, digital assets pegged to stable reserves like the US dollar, have gained significant traction in the region. This surge is largely driven by economic challenges such as hyperinflation and currency volatility, prompting individuals and businesses to seek refuge in more stable financial instruments. According to Chainalysis, LATAM received nearly $415 billion in cryptocurrency between July 2023 and June 2024, accounting for 9.1% of global crypto activity.

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Rain's Role in Enhancing Digital Asset Utility

Rain bridges the gap between digital assets and traditional financial systems by offering seamless conversion of stablecoins into local currencies, addressing challenges like high transaction fees and slow processing times. As an issuer with the Visa network, Rain enables the deployment of tailored card programs, allowing users to spend digital assets at over 100 million merchants worldwide. This integration enhances the utility of digital assets, making them more accessible for everyday transactions.

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Real-World Applications and Partnerships

Rain’s commitment to the region is demonstrated through strategic collaborations and practical applications:

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• Takenos – Cross-border Payments: Takenos is revolutionizing cross-border payments for individuals in LATAM, where accessing international earnings remains a challenge due to currency controls and high remittance fees. Through its partnership with Rain, Takenos launched TakeCard, a crypto-funded payment card that enables freelancers to receive payments in stablecoins, make international purchases, and withdraw funds in local currencies without conversion fees.
• Cadana – Financial Access for Emerging Market Workers: Cadana provides a secure and flexible payroll solution for remote workers and businesses in LATAM operating across borders. Through its partnership with Rain, Cadana has launched a virtual USD card program, allowing users to receive payments, transact online, and seamlessly participate in the global economy.
• Qash – U.S. Dollar Stability to Latin America: Qash is democratizing access to the U.S. banking system, starting in Colombia. Built on blockchain and stablecoin technology, Qash provides Latin Americans with a seamless way to save, spend, and invest in digital dollars. Through its partnership with Rain and Visa, Qash has introduced the first blockchain-based Visa credit card in Colombia and the broader Andean region, allowing users to spend USDC stablecoins at retail locations in over 180 countries.
• Avalanche Card – Bridging Crypto and Traditional Payments: In partnership with the Avalanche Foundation, Rain introduced the Avalanche Card, enabling users to spend cryptocurrencies like USDC, USDT, AVAX, and wAVAX anywhere Visa is accepted. This initiative enhances the real-world utility of digital assets, providing users in LATAM with flexibility and convenience in their financial transactions.
• Meru – Global Financial Tools: For freelancers, content creators, and remote workers in LATAM, managing international payments can be complex and costly. Meru simplifies this by providing a self-custodied USD account that enables users to receive salaries, withdraw earnings from platforms, and send payments to U.S. and European accounts. Through its partnership with Rain, Meru offers a Visa card that allows users to seamlessly spend their digital dollars online and in-person, bridging the gap between stablecoin earnings and everyday financial needs.

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Through these strategic partnerships, Rain is actively contributing to the widespread adoption and practical application of stablecoins in LATAM, fostering a more inclusive and resilient financial ecosystem.

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The Path Forward

As digital asset adoption continues to rise in LATAM, Rain remains dedicated to supporting this financial evolution. By providing robust infrastructure and forming strategic partnerships, Rain aims to empower individuals and businesses to navigate the digital economy with confidence and ease.

Through these efforts, Rain envisions a future where financial systems are more inclusive, efficient, and resilient, driven by the transformative power of digital assets and blockchain technology.

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‍About Rain: Rain develops and operates cutting edge digital asset authorization and settlement infrastructure in concert with their innovative digital payment card solutions. By integrating blockchain technology with traditional financial systems to drive adoption and utility for digital assets in enterprise and consumer use cases. For more information, visit www.raincards.com.