Paymentology, a worldwide issuer-processor, has partnered with Rain, a company spend administration platform, to speed up the digital asset enterprise market within the Caribbean and Latin America.
Collectively, Paymentology and Rain have launched a brand new fee resolution that permits firms to immediately spend their digital belongings. That is made doable by Rain’s settlement know-how and on-chain infrastructure, at the side of the help of Paymentology’s confirmed next-generation options.
Based in 2021, Rain has emerged as a go-to platform for Web3 entities. It’s designed to accommodate the distinctive governance and operation fashions of Web3 groups. All of the whereas, it permits them to benefit from fiat interoperability and fee acceptance at retailers throughout the globe.
Paymentology is Rain’s issuer processing companion, and its cloud-first card issuing and analytics platform is powering Rain’s bodily and digital Visa bank cards. These playing cards play a pivotal function in enabling the mixing of digital belongings inside the fiat ecosystem.
Initially specializing in the Latin America and Caribbean (LAC) area, Rain intends to develop additional afield into different areas. This might be made doable because of Paymentology’s API-first strategy which permits world growth. Rain’s imaginative and prescient is to turn out to be the go-to spend administration platform for Web3 groups worldwide.
Capitalising on the proper time
This announcement comes because the crypto market continues to surge. Particularly inside Latin America, as it’s experiencing an unprecedented increase in digital forex adoption. In 2022, Latin America accounted for 9.1 per cent of the worldwide crypto worth obtained. This amounted to $562billion between July 2021 and June 2022, marking a formidable 40 per cent development throughout this era.
Farooq Malik, co-founder of Rain, commented on the announcement: “At Rain, we take immense pleasure in being the pioneers of an answer that mixes on-chain infrastructure and interoperability with fiat rails for the digital asset ecosystem. Our collaboration with Paymentology has enabled us to service a few of the largest groups inside the Web3 ecosystem. With the help of Paymentology’s dependable options, we’re excited to supply our options to our valued prospects.”
Alejandro Del Rio, regional director for LatAm at Paymentology, added: “With round 70 per cent of the inhabitants in Latin America thought of unbanked or underbanked, it comes as no shock that crypto adoption has surged on this area. We’re delighted to realize this industry-first milestone with Rain. We look ahead to attaining many extra milestones for the Latam fintech {industry}, and past.”
