Uptop, a card-linked rewards platform, is expanding its offerings beyond sports to encompass retail, entertainment, travel, dining, and more.
NEW YORK, Nov. 12, 2025 – Rain, the enterprise-grade infrastructure for stablecoin-powered payments, has acquired Uptop, an onchain rewards platform that transforms everyday card purchases into loyalty benefits for users, brands, and sponsors through simple card linking and receipt scanning.
Strategic Acquisition Accelerates Rain's Integrated Offering
This acquisition follows Rain's recent $58 million Series B funding and is set to accelerate the company's strategy of providing a complete, vertically integrated technology stack. This comprehensive solution now includes on-ramps, wallets, cards compatible with any Visa-accepting merchant, off-ramps and payouts, and native rewards capabilities. This integration allows enterprises to launch and scale branded card and wallet programs with a single partner.
“We are building end-to-end, stablecoin-native infrastructure to eliminate the need for our clients to piece together disparate systems,” said Farooq Malik, CEO & Co-founder of Rain. “By integrating rewards, Rain continues to solidify its leadership in the stablecoin industry, offering a comprehensive platform that enables partners to go live and scale rapidly, all while maintaining a simple consumer experience. With Rain and Uptop combined, any partner will be able to offer branded cards with built-in rewards or launch a Starbucks-style wallet and rewards program designed to foster loyalty.”
Uptop's Proven Track Record and Future Expansion
Uptop has a demonstrated history of powering rewards programs for prominent sports organizations. These include the Cavs Rewards program for the Cleveland Cavaliers, Pistons Rewards for the Detroit Pistons, and a program for LSU Athletics. In the Cavaliers program, sponsors have observed a 21% increase in spending from enrolled members and a 51% surge in Team Shop sales since its inception. Beyond sports, Uptop also supports the Empire State Building’s Ambassador Program. Under Rain's ownership, Uptop is poised to extend its reach into additional sectors such as retail, entertainment, travel, and dining.
By bringing rewards capabilities in-house, Rain enhances its stablecoin-powered programs by meeting a core expectation of cardholders. In the near future, Rain-issued cards will be linkable to the Uptop-powered rewards marketplace. This will enable cardholders to earn rewards automatically on their everyday spending, and allow partners to sponsor bonus-earn opportunities to encourage repeat engagement and retention. Uptop's onchain architecture, built on Avalanche, facilitates low-latency, high-volume loyalty experiences while preserving a familiar and user-friendly interface.
Quotes on the Integration
“We built Uptop to simplify the process, making it so that linking a card is all it takes for people to feel a stronger connection to the brands and teams they admire,” said John Timoney, Co-founder of Uptop. “As part of Rain, we can extend that simplicity to a greater number of cardholders globally, utilizing onchain infrastructure that remains invisible to the user.”
“Our card-linked, affinity rewards have proven their ability to drive measurable spending. The next logical step is integration at the issuing layer. Rain provides us with the platform to achieve exactly that, at scale,” stated Ross Basri, Co-founder of Uptop. “Collaborating with the impressive team at Rain, we can deliver rewards to more partners and cardholders at an accelerated pace.”
Uptop will continue to operate as an independent brand under the Rain umbrella.
About Rain
Rain is the global stablecoin infrastructure platform serving enterprises, neobanks, platforms, and developers. Our technology empowers partners to move, store, and utilize stablecoins instantaneously and compliantly through global payment cards, on/off-ramps, wallets, and cross-border rails. As a Visa Principal Member, Rain issues cards that are accepted anywhere Visa is present, facilitating millions of transactions in over 150 countries. Built natively for stablecoins and trusted by more than 100 organizations worldwide, Rain offers secure, scalable infrastructure that enables money to move freely and instantly across the globe. Discover more at https://www.rain.xyz/
About Uptop
Uptop, now a Rain company, is an onchain rewards platform that converts everyday purchases into loyalty benefits across various categories including sports, entertainment, travel, dining, and retail. By enabling customers to link a card or scan a receipt, Uptop allows them to earn rewards automatically at their preferred merchants and redeem them for valuable perks. Partners and sponsors benefit from measurable outcomes such as increased purchase frequency, larger basket sizes, and improved customer retention. Supported by Rain, Uptop delivers integrated rewards for card and wallet programs at scale. Learn more at https://www.uptop.xyz/
Media Contact
Lucas Piazza
Marketing Lead, Rain
lucas@rain.xyz