The Stablecoin Card Company That Raised Over $300M in 12 Months

Charles Yoo-Naut is the Co-Founder and CTO of @raincardsxyz , the stablecoin card infrastructure company that raised over $300 million in three rounds across 12 months, reaching a $1.95 billion valuation. Rain processes over $3 billion a year in card volume, settling with Visa in USDC seven days a week.

In this episode, we discuss:

- What it actually looks like when stablecoins settle end to end on Visa rails
- Why Rain's biggest customers are companies that didn't exist two years ago
- The moment cross-border payments stop needing banks in the middle
- What happens when agents start making purchases, and who is liable
- How a 95-person company avoids the Block trap of hiring 8,000
- Why the line between a card payment and a stablecoin payment is about to disappear
- What it feels like to become a dad while scaling a company at this pace

Timestamps:

02:29 - $250M Series C, $1.95B valuation
03:40 - The conviction that started four years early
06:08 - $3B annualized card volume
06:46 - Inside a KAST card swipe
08:33 - USDC settlement with Visa
12:33 - From "Ramp for DAOs"to the full TAM
14:36 - Western Union and the stablecoin sandwich
21:36 - 17 days to go live
33:50 - Stablecoins passing cardholder to merchant
35:36 - Non-bank principal member of Visa
36:06 - "Know Your Agent"
44:01 - Microtransactions and content paywalls
46:33 - Becoming a dad

Stableminded is a financial podcast covering founders on the frontier. Subscribe for conversations with the builders shaping the future of money.

Stableminded is presented by Altitude - business banking rebuilt for teams on the frontier. Payouts, bill pay, corporate cards, and enterprise controls, all from your stablecoin balance. Move money with speed, yield, and total control.

Learn more at https://altitude.xyz/
Learn more about Rain at https://www.rain.xyz/