Lydian has launched the Lydian Card, a co-branded Visa Platinum card issued by Rain that allows users to use more than 300 supported digital assets, including stablecoins and major cryptocurrencies, across Visa’s global merchant network.
Available in both physical and instant virtual formats, the card 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 transactions through an app or online dashboard, aiming to streamline the conversion of digital assets into everyday purchasing power.
The launch comes amid rapid growth in crypto-linked payment cards. Industry data cited by the company shows that monthly crypto card spending has risen from $100 million in early 2023 to more than $1.5 billion today, with forecasts suggesting that access to digital assets could expand by 66%. The trend reflects a shift among crypto holders from passive storage to active consumption.
Crypto use cases to make life less clumsy
Lydian leverages Rain’s stablecoin native infrastructure, which supports wallets, cards, onramps and offramps. Rain recently reported significant growth, including a 30-fold increase in the past year and a $250 million Series C round that brought its valuation to $1.95 billion.
Executives from both companies said the goal is to reduce friction in crypto payments and make digital assets usable in daily commerce through existing Visa infrastructure.
Carl Grimstad, CEO of Lydian, said: “Digital asset holders have long struggled to use their funds in everyday life. Manually converting tokens, navigating limited merchant acceptance and wrestling with clunky user experiences have made using crypto more complicated than it needs to be. The Lydian card turns that all upside down.”
“Whether you tap in-store or make a purchase online, the Lydian Card makes it easy to use 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.”
Farooq Malik, CEO and co-founder of Rain, said: “Tokenized money and digital assets hold enormous potential, but mainstream adoption will only happen if it’s actually easy to use in the real world. Historically, getting this right has been difficult and complex.”
“Using Rain’s on-chain card issuance solution, Lydian makes it convenient for cardholders to use their digital assets anywhere Visa is accepted – a critical step toward unlocking continued use around the world.”