Financial and Monetary Systems
How stablecoins restore the best properties of cash
Stablecoins can restore the instant settlement that was traditionally cash's defining property – only this time, at a truly global scale.
Farooq Malik
Farooq Malik is the co-founder and CEO of Rain, a global payments platform powered by stablecoins. Founded in 2021 by Malik and Charles Yoo-Naut, Rain sponsors and operates card programs as a Visa principal member, enabling companies to launch compliant payment products that settle transactions using stablecoins while operating on traditional card networks. Under Malik’s leadership, Rain has grown more than 38x over the last twelve months, processing transactions in over 150 countries, and has emerged as a key player modernizing payments infrastructure at the intersection of crypto and traditional finance. Before founding Rain, Malik spent several years in public finance and institutional investing, including time at the North American Development Bank, where he oversaw capital allocation, investment strategy, and risk management, and earlier held roles focused on large-scale financial and capital markets initiatives. He was also selected as a Marshall Memorial Fellow by the German Marshall Fund of the United States, a transatlantic leadership program for emerging global leaders.
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