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Rain Secures $24.5 Million Funding to Accelerate Global Expansion of Stablecoin Card Services
Rain, a global card issuing platform for stablecoins, has raised $24.5 million in a funding round led by Norwest Venture Partners, alongside new investors like Galaxy Ventures and existing backers including Lightspeed Venture Partners. Founded in 2021, Rain provides physical and virtual payment cards linked to stablecoin balances, operating in over 100 countries. CEO Farooq Malik expressed excitement about the funding, which will enhance interoperability and expand their infrastructure. Industry expert Parker Barrile noted Rain’s leadership in stablecoin adoption amidst growing regulatory support. This funding positions Rain to strengthen its market presence in digital finance.
Unlock 3.7% Returns: PayPal Launches High-Yield PYUSD Wallet Balances!
PayPal is launching a rewards program for its PYUSD stablecoin in summer 2025, offering U.S. users a 3.7% annual reward rate on PYUSD holdings in PayPal and Venmo wallets. Users can earn rewards by making purchases, transferring funds, or funding international transfers via Xoom without fees. PYUSD can be converted to U.S. dollars, exchanged for cryptocurrencies, or transferred to Ethereum and Solana wallets. Rewards will be calculated daily and distributed monthly in PYUSD. Users have the flexibility to opt in or out of the program and can redeem their holdings at any time, enhancing the utility of PYUSD.
Mastercard’s $300M Investment in Corpay: Revolutionizing Cross-Border Payment Solutions
Mastercard has expanded its partnership with Corpay, enhancing its offerings in corporate cross-border payment solutions. Key developments include streamlined access for banking partners to a broader range of payment options, supported by a $300 million equity investment in Corpay, valuing it at $10.7 billion. Corpay will exclusively manage currency risk and large-value cross-border payments for Mastercard’s partners, while continuing to provide virtual card programs. Additionally, Mastercard Move will be extended to small and medium-sized enterprises in new markets. Both companies express optimism about the partnership’s potential to improve financial services for institutions and clients.
Discover the Future of Wealth Management: FinTech Global Unveils the Top Innovators in the WealthTech100
FinTech Global has released the 2025 WealthTech100 list, showcasing top firms revolutionizing investment and financial advisory amid market changes. The WealthTech sector is forecasted to grow by $6.08 billion from 2024 to 2028, driven by evolving client expectations and technology advancements. A panel evaluated over 1,200 firms, selecting 100 that demonstrate innovative solutions for wealth management challenges. Notable companies include Abbove, additiv, CAIS, and Croesus, each enhancing client engagement and operational efficiency. Richard Sachar emphasized the need for firms to adapt to hyper-personalized digital experiences, making the WealthTech100 an essential guide for industry leaders navigating this dynamic environment.
Quantee and MedtechInsurance Join Forces to Transform Insurance Risk Assessment
Quantee, an InsurTech leader, has partnered with MedtechInsurance to enhance risk assessment tools in the insurance industry. This collaboration will integrate Quantee’s AI-driven pricing platform with MedtechInsurance’s short-term risk calculator, aiming to improve pricing accuracy and underwriting effectiveness for European clients. The partnership also allows Quantee to access the Canadian insurance underwriting market. Leaders from both companies highlighted the synergy between Quantee’s technology and MedtechInsurance’s medical data, enhancing risk model accuracy. This alliance underscores the growing trend of using advanced technology in insurance to improve services and client outcomes, marking a significant advancement in the sector.