Lydian has launched the Lydian Card, a co-branded Visa Platinum card issued by Rain. This will give users access to over 300 supported digital assets, including stablecoins and major cryptocurrencies, across Visa’s global merchant network.
The card will be available in both physical and instant-issue virtual formats and can be used anywhere Visa is accepted, giving cardholders access to more than 150 million merchants worldwide, according to a release seen by Bitcoin Magazine. Users will be able to fund, manage and track their transactions through the app or online dashboard, with the aim of streamlining the conversion of digital assets into everyday purchasing power.
The launch comes amid rapid growth in payment cards linked to cryptocurrencies. According to industry data cited by the company, monthly cryptocurrency card spending has soared from $100 million in early 2023 to more than $1.5 billion today, with some predicting that access to digital asset spending could expand by 66%. This trend reflects the shift of crypto holders from passive storage to active spending.
Examples of using cryptography to reduce the hassles of life
Lydian leverages Rain’s stablecoin-native infrastructure that supports wallets, cards, on-ramps, and off-ramps. Rain recently reported significant growth, expanding 30x over the past year and raising a $250 million Series C round at a valuation of $1.95 billion.
Executives from both companies said the goal is to reduce friction in crypto payments and make digital assets available for everyday commerce through the existing Visa infrastructure.
“Digital asset holders have long struggled to leverage their funds in their daily lives. Manually converting tokens, navigating limited merchant acceptance, and grappling with a clunky user experience have made crypto spending unnecessarily complicated. The Lydian Card turns all this on its head,” said Carl Grimstad, CEO of Lydian.
“Whether you tap in-store or buy online, the Lydian Card makes it easy to leverage your digital assets. Supported by Visa’s global network and powered by Rain’s infrastructure, the card enables a seamless transition from digital ownership to everyday use, helping users and merchants participate in the $4 trillion digital asset economy.”
“Tokenized money and digital assets have huge potential, but mainstream adoption will only occur if it’s actually easy to use them in the real world. Historically, getting this right has been difficult and complex,” said Farooq Malik, CEO and co-founder of Rain.
“By using Rain’s on-chain card issuance solution, Lydian is enabling cardholders to conveniently access their digital assets anywhere Visa is accepted. This is an important step toward enabling continued availability around the world.”
