Episode 46 | Charles Naut from Rain on Crypto Corporate Cards

26.05.2023

The Accountant Quits Podcast

0:00

41:41

Many web3 projects have a significant portion of their treasury in crypto, and paying for expenses like travel bills, SaaS tools subscriptions can be a headache as offramping often comes with friction points.

Having spoken to a few founders in web3 startups & DAOs, often times these teams would rather pay for such expenses using their personal accounts, and then later get reimbursed.

But that’s a messy way to build a web3 project.

Enter Rain, a corporate card for web3 projects. Rain’s mission is to allow you to spend in crypto, without ever needing a fiat bank account.

Their platform is non-custodial, integrates with Gnosis Safe and allows you to have as many virtual cards as you’d like for your team.

On Episode 46, I spoke to its co-founder, Charles Naut.

Topics covered;

Episode intro (00:39)
Charles’s background and how he got interested with blockchain (2:25)
Where the idea for Rain came from (4:24)
Friction points around off-ramping today (10:00)
How do crypto corporate cards work with off-ramping (11:19)
ACH & Wire transfer possible with Rain (13:26)
What is Rain, and its different features (15:44)
Thank you to our sponsor Cryptoworth (17:29)
Getting onboarded & due diligence requirements (19:24)
Does Rain plan to offer rewards/cash-back programs? (20:51)
Examples of web3 projects using Rain (22:54)
Using virtual cards as a spend management tool (23:45)
New model for expenses reimbursement (26:49)
Thank you to our sponsor Web3CFO Club (28:44)
Accounting integrations with Rain (31:01)
How does Rain differentiate from competitors like Brex, Ramp, Reap, AirWallex (33:28)
Challenges faced for adoption (35:10)
Upcoming trends for crypto spend management (36:43)
How to reach out to Charles (38:18)