Lydian launches Visa Platinum card for digital assets
Lydian has launched a co-branded Visa Platinum card issued by Rain, allowing users to spend more than 300 digital assets at over 150 million merchants worldwide.
Available as both a physical card and an instant-issue virtual card, it can be used anywhere Visa is accepted, including in shops, online and through mobile payments. Users can manage accounts and track transactions through an app and online services.
The launch reflects a broader push to make digital assets usable for everyday payments rather than treating them mainly as investments. Backed by Tether and Cantor Fitzgerald, Lydian is targeting consumers who hold stablecoins and cryptocurrencies but want to use them more directly for ordinary purchases.
Figures cited by Lydian show monthly payment volumes for crypto cards rising from USD $100 million in early 2023 to more than USD $1.5 billion globally. Separate research it cited suggests crypto cards could expand access to spending by 66%.
Everyday spending
The card runs on Rain's issuance system, which connects digital asset balances to established payment networks. This removes the need for users to manually convert tokens before making purchases, while merchants can continue accepting payments through existing Visa rails.
Rain has expanded rapidly over the past year, reporting 30-fold growth in the last 12 months. It also raised USD $250 million in a Series C round, bringing total funding to USD $338 million and its valuation to USD $1.95 billion.
Carl Grimstad, Chief Executive Officer of Lydian, said: "Digital asset holders have long struggled to use their funds in everyday life. Converting tokens manually, navigating limited merchant acceptance, and wrestling with clunky user experiences has made spending crypto more complicated than it needs to be. The Lydian Card turns this all on its head."
"Whether tapping in-store or making a purchase online, the Lydian Card makes it simple to spend digital assets. Supported by Visa's global network and powered by Rain's infrastructure, the card enables a seamless shift from digital ownership to everyday use, helping users and merchants participate in the $4 trillion digital asset economy."
The new card enters a market where several fintech groups and exchanges are trying to link crypto holdings with mainstream payment systems. The central challenge has been making those assets usable at the point of sale without requiring consumers or retailers to adopt new payment habits.
Lydian's approach keeps the merchant experience unchanged while giving cardholders a way to use digital assets for routine spending. Users can fund accounts and monitor activity through dedicated digital tools while relying on the same acceptance network used by conventional bank cards.
Network reach
Rain is central to the offering as the issuing and payments infrastructure provider behind the card. It describes itself as a stablecoin payments platform serving enterprises, neobanks, platforms and developers, with support for cards, wallets and money transfers tied to digital assets.
This broader infrastructure has helped Rain become a Visa Principal Member and issue cards accepted in more than 150 countries. For Lydian, the partnership provides access to established global payments without the need to build card issuance from scratch.
Farooq Malik, Chief Executive Officer & Co-Founder of Rain, said: "Tokenised money and digital assets hold huge potential, but mainstream adoption will only happen if spending them in the real world is genuinely easy. Historically, getting this right has been tricky and complex."
"By using Rain's on-chain card issuance solution, Lydian is making it convenient for cardholders to use their digital assets everywhere Visa is accepted - a critical step toward unlocking continued usage around the world."