Rain announced today its acquisition of Uptop, an innovative onchain rewards platform. This deal comes on the heels of Rain's $58 million Series B funding round and aims to create a fully integrated solution for businesses looking to launch branded card and wallet programs.

Uptop specializes in transforming everyday card purchases into loyalty rewards through simple card linking and receipt scanning. Originally focused on sports teams, Uptop has powered successful programs like Cavs Rewards for the Cleveland Cavaliers, Pistons Rewards for the Detroit Pistons, and initiatives for LSU Athletics. The platform has delivered impressive results, including a 21% increase in spending from enrolled members and a 51% boost in Team Shop sales for the Cavaliers. Beyond sports, Uptop also supports the Empire State Building’s Ambassador Program and is now set to expand into new categories such as retail, entertainment, travel, dining, and more under Rain's umbrella.

Farooq Malik, CEO and Co-founder of Rain, emphasized the acquisition's role in streamlining stablecoin infrastructure: “We’re building end-to-end, stablecoin-native infrastructure so our clients don’t have to stitch it together. By integrating rewards, Rain continues to lead the stablecoin industry as a comprehensive platform that lets partners go live and scale fast, all while keeping the consumer experience simple. With Rain and Uptop, any partner will be able to offer branded cards with built-in rewards, or launch a Starbucks-style wallet and rewards program that drives loyalty.”

The integration unlocks key features for Rain's users, fulfilling a core expectation for cardholders in stablecoin programs. Soon, Rain-issued cards accepted anywhere Visa is used can be linked to Uptop's rewards marketplace, allowing automatic earnings on daily spending. Partners can also sponsor bonus opportunities to boost customer frequency and retention. Uptop's onchain architecture, built on Avalanche, ensures low-latency and high-volume experiences without complicating the user interface.

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https://www.rain.xyz/resources/rain-acquires-uptop-to-offer-rewards