Rain has acquired Uptop, an on-chain rewards platform that converts everyday card purchases into loyalty for users, brands, and sponsors. The deal expands Rain’s full-stack infrastructure for stablecoin-powered payments and brings integrated rewards into its enterprise-grade platform.
Following its recent $58 million Series B funding round, Rain is advancing its strategy to deliver a comprehensive, vertically integrated stack that enables enterprises to launch and scale branded card and wallet programs with a single partner. This comprehensive solution includes on-ramps, wallets, Visa-accepted cards, off-ramps, payouts, and now native rewards capabilities.
Rain’s acquisition of Uptop enhances its position as a global stablecoin infrastructure provider, allowing clients to create seamless card and wallet experiences that include loyalty benefits. The integration enables partners to issue branded cards with built-in rewards or develop wallet and rewards programs that mirror successful consumer models, such as Starbucks’ loyalty ecosystem.
Uptop has been recognized for powering rewards programs for major sports organizations, including the Cleveland Cavaliers’ Cavs Rewards, the Detroit Pistons’ Pistons Rewards, and LSU Athletics. These programs have demonstrated measurable success, including a 21% increase in spend from enrolled members and a 51% boost in team merchandise sales. Beyond sports, Uptop also powers loyalty initiatives like the Empire State Building’s Ambassador Program. Under Rain, Uptop plans to expand its reach into retail, travel, dining, and entertainment.
The integration of Uptop’s technology enables Rain’s cardholders to link their cards to the Uptop rewards marketplace, automatically earning rewards on everyday spending. Enterprises can also sponsor additional reward moments to encourage engagement and retention. Uptop’s on-chain architecture operates on Avalanche, ensuring low-latency, high-volume loyalty experiences while maintaining a user-friendly interface.
Uptop will continue to operate as an independent brand under Rain, allowing it to maintain its established partnerships while leveraging Rain’s global payments infrastructure to scale its reach.
KEY QUOTES:
“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.”
Farooq Malik, CEO & Co-founder of Rain
“We built Uptop so linking a card is all it takes for people to feel closer to the brands and teams they love. As part of Rain, we can bring that simplicity to more cardholders globally, with onchain infrastructure that’s invisible to the user.”
John Timoney, Co-founder of Uptop
“Our card-linked, affinity rewards have proven they drive measurable spend. The next phase is integrating at the issuing layer. Rain lets us do exactly that, at scale. Alongside the impressive team at Rain, we can bring rewards to more partners and cardholders, faster.”
Ross Basri, Co-founder of Uptop
