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Fortune
Fortune
Ben Weiss

Stablecoin startup Rain is worth $1.95 billion and plans to issue cards with Mastercard in a push to woo institutional customers

(Credit: Michael Nagle—Bloomberg/Getty Images)

The buzzy stablecoin startup Rain is now working with the two largest card networks. The company announced on Monday that it was offering credit and prepaid cards with Mastercard. Rain previously only worked with Visa to issue cards. 

Rain also said it was working with Mastercard to explore how to settle payments with the public company using stablecoins, or cryptocurrencies pegged to real-world assets like the U.S. dollar. 

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