Paymentology has announced its partnership with Rain. The collaboration will result in the launch of a new payment solution for digital asset businesses throughout the Caribbean and Latin America. 

Founded in 2021, Rain is designed to accommodate the unique governance and operation models of Web3 teams while allowing them to take advantage of fiat interoperability and payment acceptance at merchants across the globe.

Paymentology is Rain’s issuer processing partner, and its cloud-first card issuing and analytics platform is powering Rain’s physical and virtual Visa credit cards. These cards play a pivotal role in enabling the integration of digital assets within the fiat ecosystem. 

Rain intends to expand into several regions

Through this partnership, Rain hopes to empowers businesses with true interoperability, offering a solution that allows companies to instantly spend their digital assets. This is made possible by Rain’s settlement technology and on-chain infrastructure, in conjunction with the support of Paymentology’s proven next-generation solutions.

Initially focusing on the Latin America and Caribbean region, Rain intends to expand further afield into other regions, thanks to Paymentology’s API-first approach, which enables global expansion.

Farooq Malik, Co-Founder of Rain, commented: “At Rain, we take immense pride in being the pioneers of a solution that combines on-chain infrastructure and interoperability with fiat rails for the digital asset ecosystem. Our collaboration with Paymentology has enabled us to service some of the largest teams within the Web3 ecosystem. With the support of Paymentology’s reliable solutions, we’re excited to offer our solutions to our valued customers.”

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Alejandro Del Rio, Regional Director for Latam at Paymentology, added: “With around 70% of the population in Latin America considered unbanked or underbanked, it comes as no surprise that crypto adoption has surged in this region. We are delighted to achieve this industry-first milestone with Rain, and we look forward to achieving many more milestones for the Latam fintech industry, and beyond.”