Which should you choose, Lumx or Rain?
The question is usually not one or the other, and this page will not pretend it is.
Choose Lumx if the job is moving money between bank accounts. A platform paying Brazilian sellers over PIX, Colombian lenders over PSE and Bre-B, or eurozone suppliers over SEPA needs those rails live and needs a named account in each currency so the counterparty can pay in. Rain's public site names ACH, FedWire and SPEI from its virtual accounts and describes a wider payouts product without naming rails; it does not mention PIX, PSE, Bre-B, SEPA, Faster Payments or SWIFT.
Choose Rain if the job is spending a stablecoin balance at a merchant. Rain is a principal member of Visa and Mastercard, settles onchain with both daily, and issues virtual and physical cards for fintechs, wallets and exchanges with a rewards layer. Lumx has no card product and no plan to publish one on this page.
Where they overlap, in USD and MXN virtual accounts in the end user's name, compare on what surrounds the account. Lumx puts the same account model in six currencies with nine rails behind it and a FinCEN-registered operating entity; Rain puts it beside a card programme and a partner bank. A team that needs both a card and local rails in Latin America uses both.
What is Rain?
Rain is a stablecoin card-issuing platform operated by Signify Holdings, Inc. and led by Farooq Malik (CEO) and Charles Yoo-Naut (CTO); it does not state its founding year or headquarters on its site. It raised a $24.5M Series A led by Norwest in March 2025, a $58M Series B led by Sapphire Ventures in August 2025 and a $250M Series C led by ICONIQ in January 2026, for $338M total at a reported $1.95B valuation. Rain is a principal member of both Visa and Mastercard and settles card transactions with the networks onchain daily; it issues virtual and physical cards backed by stablecoin balances for fintechs, wallets, exchanges and neobanks, runs the Raindrops rewards programme and sells its own US corporate card, Rain Spend. Around the card it offers virtual accounts in the end user's legal name in USD (ACH, FedWire) and MXN (SPEI), a payouts product it describes as 50 currencies in 80+ countries without naming rails, and custodial and non-custodial wallet options; its site lists Base, Polygon, Optimism, Avalanche, Arbitrum, ZKsync, Solana, Stellar, Tron and Monad as supported chains and USDC, USD+ (Dinari) and KRW1 (BDACS) as settlement tokens. Rain states it is not a bank or custodian; banking runs through a partner bank (SSB, Member FDIC) and cards through licensed issuing partners. It holds PCI DSS and SOC 2 attestations and its contracts are audited by Sherlock. Rain reports more than $3B in annualized volume and 200+ partners (its own figures) and names Western Union, MoneyGram, Nuvei, KAST, Slash and the Avalanche card programme among its customers. Its API documentation is access-gated, so this page describes Rain from its public site. Rain is not a Lumx competitor: it issues cards on top of stablecoin balances, and Lumx moves those balances between bank accounts.
What is Lumx?
Lumx is stablecoin payments infrastructure for businesses that move money between Latin America and the rest of the world: one API to collect, hold, convert, and pay out in BRL, MXN, COP, USD, EUR, and GBP or in USDC and USDT, over local rails such as PIX, SPEI, PSE, ACH, FEDWIRE, SEPA, and Faster Payments, with SWIFT and on-behalf-of payments and collections (POBO and COBO) in USD, EUR, and GBP, plus named virtual accounts, custodial wallets, and KYB/KYC built in.
Lumx was founded in 2022 in Rio de Janeiro and is backed by BTG Pactual, the largest investment bank in Latin America. Custodial wallets run in production, segregated per customer, on Ethereum, Polygon, Base and Tron, with Stellar for USDC on-ramps in BRL. In Brazil, Lumx SPSAV Ltda operates under Article 88 of Central Bank Resolution 520/2025; in the US, Lumx US OP LLC is a FinCEN-registered MSB (#31000316459619). Lumx processes more than $2B in annualized payment volume (as of September 2026). Customers include Nomad, Logcomex and Conta Simples.
How do Lumx and Rain compare?
Model. Lumx is a payments layer: named accounts in six currencies, payouts over nine local rails and SWIFT, custodied balances and locked FX quotes, sold to PSPs, neobanks and fintechs that embed it. Rain is a card layer: it holds principal membership on Visa and Mastercard, settles onchain with the networks daily and issues cards for other companies' users, with rewards on top. The overlap is narrow and real: both offer virtual accounts in the end user's legal name in USD and MXN. See USDC to MXN. Beyond that overlap, Rain's public site describes a payouts product covering 50 currencies in 80+ countries without naming rails, and does not mention PIX, PSE, Bre-B, SEPA, Faster Payments or SWIFT; Lumx runs all of them and does not issue cards.
Custody. Lumx custodies in production, one segregated wallet per customer, USDC and USDT on Ethereum, Polygon, Base and Tron, with Stellar for BRL on-ramps. Rain describes custodial and non-custodial wallet options on its site and states it is not a custodian; its chain list is longer (Base, Polygon, Optimism, Avalanche, Arbitrum, ZKsync, Solana, Stellar, Tron and Monad) and its settlement tokens are USDC, USD+ and KRW1. Rain's card model works from a balance the cardholder or partner already holds; Lumx's payments model works from a balance Lumx holds for the customer. The two meet at that balance: a Lumx custodial wallet on Base, Polygon or Tron holds USDC that a Rain card could spend, subject to Rain's programme terms.
Pricing and compliance. Neither publishes plans for the platform; both price by contact with sales. Lumx charges a monthly platform fee plus usage-based per-transaction and virtual account fees, with transparent FX on locked quotes and no pre-funding; plans are not published, so contact sales. The compliance regimes differ because the products differ. Lumx is a payments company with its own regulatory footprint: it operates under Article 88 of Central Bank Resolution 520/2025 in Brazil while its VASP authorization is processed, and Lumx US OP LLC is a FinCEN-registered MSB, with Sumsub KYB/KYC, Chainalysis monitoring and purpose codes and holder relationships on every payment. Rain is a card company operating through licensed partners: cards through issuing partners, banking through a partner bank, with PCI DSS and SOC 2 attestations and Sherlock audits on its contracts, and no MSB or licence number on its site. Neither footprint is wrong for its product.
When is Lumx the better fit?
Your users need to be paid over local rails. PIX, SPEI, PSE, Bre-B, ACH, Fedwire, SEPA and Faster Payments are live on Lumx; Rain's site names ACH, FedWire and SPEI. See USDC to BRL, USDC to COP and USDC to EUR.
Your users invoice against local bank details in BRL, COP, EUR or GBP. Lumx issues named accounts in six currencies; Rain's are USD and MXN.
You settle SWIFT payouts. Lumx runs SWIFT in USD with UETR and MT103 confirmations; Rain does not mention SWIFT.
You need a payments counterparty with its own registrations. Lumx operates under Article 88 in Brazil while its VASP authorization is processed, and as a FinCEN MSB in the US; Rain operates through partners.
You need a custodied balance in production today. Lumx custodial wallets run on four chains; Rain describes wallet options without public API detail.
You need purpose codes and relationship types. Lumx models them on every payment for local reporting; Rain's public site does not describe them.
Where does Rain fit?
Rain does the thing Lumx does not do, and does it at network level.
Card issuing on a stablecoin balance. Virtual and physical Visa and Mastercard cards for fintechs, wallets and exchanges, with Rain as principal member on both networks. Lumx has no card product.
Onchain settlement with the networks. Rain settles daily with Visa and Mastercard onchain, which removes the fiat pre-funding step a conventional issuer processor requires.
Rewards. The Raindrops programme lets a partner run cashback and rewards on its card.
Rain Spend. Rain's own corporate card in the US, for companies that want a card without building a programme.
A broad chain and token list. Ten chains announced and three settlement tokens including USD+ and KRW1, wider than Lumx's four chains and two tokens.
Scale in card programmes. Western Union, MoneyGram, Nuvei, KAST, Slash and the Avalanche card programme are named customers.
Can you use Lumx and Rain together?
Yes, and it is the natural pairing. Lumx receives and pays out on local rails and holds the customer's USDC in a custodial wallet on Base, Polygon, Ethereum or Tron; Rain issues a card that spends a stablecoin balance at any Visa or Mastercard merchant. A neobank in Brazil could collect BRL over PIX into a named Lumx account, convert to USDC on a locked quote, and put a Rain card in the user's hands for spending abroad, subject to Rain's programme terms and chain support. Both send webhooks on transaction events, so the two ledgers reconcile side by side. Where both offer a USD or MXN virtual account, pick the one attached to the layer your user touches more.
How do you migrate from Rain to Lumx?
Migration here means moving the payments layer, not the card. A team that used Rain's USD or MXN virtual accounts and wants Lumx for the payments side follows six steps.
Map Rain account holders to Lumx customers. Lumx runs Sumsub KYB and KYC with token sharing for prior verifications, and models a holder relationship (SUPPLIER, EMPLOYEE, SUBSIDIARY and others) and a purpose code on each payment.
Open a sandbox at dashboard.lumx.io. New accounts start in a sandbox with mock banking partners; magic numbers on taxId force approved, rejected or pending verification.
Issue named accounts. Replace the USD and MXN accounts with Lumx accounts in the same currencies and add BRL, COP, EUR and GBP where the corridor needs them.
Provision custodial wallets. Lumx wallets are created per customer on Ethereum, Polygon, Base and Tron; fund them with an on-chain transfer of USDC from the balance that backed the Rain programme.
Route payouts by rail. ACH, Fedwire and SPEI map directly; PIX, PSE, Bre-B, SEPA, Faster Payments and SWIFT in USD are added on locked quotes (30 seconds free, one or five minutes for a fee).
Keep the card. Subscribe to Lumx webhooks, send Idempotency-Key on every mutation, run both ledgers in parallel for a cycle, and leave the Rain card programme in place. Read the docs or talk to us.
Methodology and sources
This page reflects both companies' public information as of September 2026. Rain facts come from its homepage, about and product pages, its legal centre and its Series A, B and C announcements, all fetched on 17 September 2026; working notes are in `rain-research.md`. Rain's API docs are access-gated and were not read, so no API-level statements are made here; where the public site describes a product without naming rails or chains in production, this page reports it as Rain's own claim. Rain's pricing path returns its homepage, so no pricing is cited. Lumx facts come from docs.lumx.io and the verified-facts register. Rain is written as an adjacent layer, not a rival: where a Rain capability has no Lumx counterpart, the page says so rather than reframing it as a gap. Spot an error? Tell us.
This page is general information, not legal, tax, or financial advice. Rain is a trademark of its owner; Lumx is not affiliated with Rain.
Fique por dentro do que a Lumx está desenvolvendo.
Rain
FAQ
Is Lumx a replacement for Rain?
No. Rain issues Visa and Mastercard cards backed by stablecoin balances; Lumx does not issue cards. Lumx replaces the payments layer around the balance: named accounts in six currencies, payouts over nine local rails and SWIFT, custodial wallets and KYB/KYC. If your users spend at merchants, you need a card issuer such as Rain.
Can you use Lumx and Rain together?
Yes. Lumx collects, holds and pays out on local rails; Rain puts a card on the stablecoin balance. Both settle USDC on Base and Polygon, so a Lumx custodial wallet can hold the balance a Rain card spends, subject to Rain's programme terms.
Which is cheaper, Lumx or Rain?
They price different things. Rain prices card programmes by contact with sales. Lumx charges a monthly platform fee plus usage-based per-transaction and virtual account fees, with transparent FX on locked quotes and no pre-funding; plans are not published, so contact sales. Compare the payments legs against Lumx and the card programme against Rain.
How long does it take to migrate from Rain to Lumx?
If you used Rain's USD or MXN virtual accounts, the payments side moves in the time it takes to sign up, run KYB and issue named accounts: Lumx opens in a sandbox with mock partners and magic numbers on day one. The card programme stays with Rain, since Lumx does not issue cards.
Does Rain support PIX, SEPA or SWIFT?
Not on its public site as of September 2026. Rain names ACH, FedWire and SPEI from its USD and MXN virtual accounts and describes a payouts product in 50 currencies without naming rails. Lumx runs PIX, SPEI, PSE, Bre-B, ACH, Fedwire, SEPA, Faster Payments and SWIFT in USD.
Does Lumx issue cards?
No. Lumx is payments infrastructure: named virtual accounts, local-rail payouts, custodial wallets and KYB/KYC. For a card on a stablecoin balance, use an issuer such as Rain alongside Lumx.
