Rain Joins Western Union’s Digital Asset Network, Bringing Real-World Payment Utility to Stablecoins
The service will connect stablecoins stored within Rain-powered wallets to local cash payouts via Western Union’s global retail footprint
Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced plans to participate in the new Western Union Digital Asset Network to bring everyday cash access to customers. This integration allows users to convert stablecoins held in Rain-powered wallets into local cash payouts at participating Western Union locations, unlocking real-world spending power.
Western Union recently announced the Digital Asset Network, which connects onchain assets with traditional money movement. To deliver full customer value, stablecoins must also be usable in everyday contexts, which is Rain’s unique area of expertise.
Rain’s ability to provide stablecoin wallets for their global customers makes them perfect for the Digital Asset Network. They will be able to offer users access to cash in many global markets through Western Union,” said Malcolm Clarke, Vice President of Global Ecosystem at Western Union. “With Rain, we’re partnering to deliver comprehensive solutions that connect traditional finance and the digital asset economy.”
Western Union operates one of the world’s leading cross-border, cross-currency money-movement and payments networks, reaching more than 150 countries and territories and operating in approximately 130 currencies. Pairing that distribution and trust with Rain’s modern payments infrastructure connects digital balances to familiar access points so customers can compliantly convert to cash from any Rain-enabled wallet.
All money is moving onchain, and Western Union’s stablecoin strategy underscores that shift. Rain is designed to make those dollars usable in the real world, which our integration with the Digital Asset Network will achieve,” said Farooq Malik, Chief Executive Officer of Rain. “Western Union is an impressive global institution, and their scale and ambition are moving the entire industry forward.”
Pairing Western Union’s global reach and retail footprint with Rain’s enterprise-grade infrastructure links onchain value to local retail locations customers already use. Details on supported geographies, eligibility, and launch timing will be announced as the program approaches availability.
About Rain: Rain is the global stablecoin infrastructure platform for enterprises, neobanks, platforms, and developers. Our technology allows partners to move, store, and use stablecoins instantly and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that work anywhere Visa is accepted, powering millions of purchases in over 150 countries. Built natively for stablecoins and trusted by more than 150 organizations worldwide, Rain delivers secure, scalable infrastructure that makes money move freely and instantly around the world.
Read original press release here: https://www.prnewswire.com/news-releases/rain-joins-western-unions-digital-asset-network-bringing-real-world-payment-utility-to-stablecoins-302603406.html?tc=eml_cleartime
