Credit Coop and Rain Partner to Leverage Blockchain for Real-Time Payments Financing
Combining Onchain and Offchain Data to Unlock Unprecedented Transparency and Efficiency.
Credit Coop is thrilled to announce our partnership with Rain, a card issuer on the Visa network, accepted at over 100 million merchants globally. Together, we're leveraging the power of blockchain technology to bring unprecedented transparency and automation to the world of payments financing.
Revolutionizing Payments Financing with Blockchain
By implementing loan agreements as smart contracts, we're simplifying the process for businesses, enabling faster, more secure, and lower-cost payment transfers. Rain's integration of blockchain as the settlement layer means that automated repayments are now possible, instantly updating loan balances and payment histories with full transparency.
For investors, this marks a significant shift from traditional finance (TradFi) reporting, where monthly remittance reports are the norm. With Credit Coop and Rain, lenders gain real-time, holistic views of both onchain and offchain data, offering an unmatched level of transparency and insight into loan performance.
The Numbers Speak Volumes
Over $15 trillion is spent on payments globally each year across networks like Visa and Mastercard
In 2023, over $20 billion was issued in credit card asset-backed securities (ABS)
Through the Credit Coop and Rain partnership:
$13.33 million borrowed to date
$140,000 in interest paid
0 defaults
Within just one year, Rain increased its borrowing capacity from 20,000 USDC to 2,000,000 USDC per month—a remarkable 100-fold increase. This extraordinary growth demonstrates that Credit Coop’s novel approach is not just enhancing, but fundamentally reimagining the growth trajectory and operational agility of businesses in the crypto space.
A Win-Win for Borrowers and Lenders
"Credit Coop has been a great partner as we've explored turning our credit card receivables into a tokenized RWA. They've helped make the market for this groundbreaking product and been instrumental in sourcing liquidity," says Farooq Malik, Co-Founder of Rain.
For lenders, the benefits are equally compelling. "In the past, lenders relied on trust and hoped for repayments. Credit Coop's smart contracts automatically redirect borrowers' cash flows. This gives us unprecedented security and real-time insights. Credit Coop makes secured lending simple," says Evgeny Gokhberg, Managing Partner at Re7 Capital.
The Future of DeFi Lending
As traditional finance rates continue to decline—exemplified by the Federal Reserve's recent 50 basis point rate cut—investors are seeking new yield opportunities. Payments financing, with its stable and predictable cash flows, presents a compelling opportunity in the Real World Asset (RWA) space.
A recent report from Bernstein suggests that "strengthening DeFi lending markets on Ethereum could bring large whales and institutional investors back to the crypto credit markets, providing a catalyst." By offering real-time monitoring and full transparency, Credit Coop and Rain are positioned at the forefront of this shift.
Join the Revolution
- Potential Borrowers: Ready to fuel your growth? Complete this form to discover how our Secured Line of Credit can propel your business forward.
- Potential Lenders: Seeking yield? Complete this form to learn how our secured lending solutions can generate real yield while removing trust assumptions.
Join Credit Coop and Rain as we reshape the landscape of payments financing, bringing the power of blockchain to one of the world's largest financial markets.
About Credit Coop: Credit Coop is a private credit platform improving financing for businesses by turning future cash flows into collateral through smart contracts. This innovative approach offers businesses a more flexible and capital-efficient way to secure growth capital, addressing the limitations of traditional lending models. With $16 million in credit already deployed and zero defaults, Credit Coop is driving the growth of businesses.
About Rain: Rain is revolutionizing card issuing. Designed for the digital ecosystem, Rain enables seamless interoperability between digital assets and the fiat systems crucial for everyday operations. Whether it’s self-custody, institutional custody, or anything in between, Rain caters to all needs, ensuring operational efficiency in both on-chain and off-chain environments.
