Rain CEO Farooq Malik points out that over 100,000 merchants are accepting stablecoin payments completely unaware, with these transactions settled through Visa taking three days to complete.
Over 100,000 stores are collecting stablecoin payments every single day—and nobody's told them.
According to The Block, Rain CEO Farooq Malik revealed that more than 100,000 merchants currently accept stablecoin payments without even realizing it. The transactions are settled through Visa, with the entire process taking three days to complete.
Based on Malik's comments, this suggests stablecoins have already been embedded into existing card payment rails—merchants see what looks like a standard Visa deposit record, without directly interfacing with crypto itself.
The report did not elaborate further on Rain's actual role or exactly how stablecoins are embedded into this process.
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