What Rainfin does

RainFin (Pty) Ltd is a South African fintech registered as a Financial Services Provider (FSB 45756) and Credit Provider (NCRCP 5587) that issues tokenized yield and savings products on the XCAP Network, its proprietary Public Permissioned EVM-compatible blockchain using Proof of Authority with FSP-only validators and ERC1400 security tokens under an En Commandite Partnership legal structure. The platform offers five on-chain products: ZARx and USDx base deposit tokens (backed by tier-1 bank deposits, including ABSA Liquidity Plus, yielding ~2.30% and ~1.75% APY respectively); ZAR-ST (~8% APY targeting repo minus 0.25%) and USD-ST (~5.2% APY targeting money-market returns minus 0.25% and backed by BlackRock BUIDL via Ondo OUSG) as savings tokens; and USD-PC, a private credit token targeting 8–10% net USD returns through the Garrington Private Credit Strategy. The company also runs a Consulting arm that provides legal structuring, asset tokenization, and distribution services on XCAP to CASP licensees, FSPs, banks, and exchanges.

The platform monetizes via a 0.1% swap fee on all token pairs, professional services revenue from tokenization engagements, and AUM-linked fees on partner-issued assets (product management and mint fees are set to 0%). Distribution is hybrid: retail and corporate ZAR/USD holders self-onboard through the Alpha App (EFT, card, or USDC funding) globally excluding the USA and sanctioned markets, while XCAP itself is offered as an OEM/white-label rail for licensed institutions. Marketing relies on content (LinkedIn articles, website resources) rather than paid acquisition. Leadership is founder-led — Sean Emery (co-founder & CEO), Hannes Van Der Merwe (founder & director), Altesh Baijoo (CMO) — with 11–50 employees, no disclosed institutional funding, and operating revenue, growth rates, and headcount trends not publicly quantified.

Funded accounts interact with the platform primarily through four use-cases — hedge against local currency volatility, earn yield on USD/ZAR stablecoins, borrow against token holdings (forthcoming), and cross-border send/receive via the XCAP Network — targeting South African retail investors and corporate ZAR holders as the primary segments, with partner financial institutions (CASP licensees, FSPs, banks) as a secondary B2B segment. No acquisitions, leadership changes, funding rounds, or restructuring events are disclosed.

Name

Rainfin

Legal name

RainFin (Pty) Ltd

Website

https://rainfin.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

RainFin is a regulated South African fintech operating the XCAP permissioned blockchain to issue tokenized yield, savings, and private-credit products (ZARx, USDx, ZAR-ST, USD-ST, USD-PC) for South African retail investors, corporate ZAR holders, and partner financial institutions seeking currency hedging and USD-denominated yield.

Ownership category

akta.pro rank

Product category

Digital Asset Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Depository Credit Intermediation (5221), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199), Asset-Backed Securities (6189)

akta.pro primary industry

Tokenization Platforms (RWA, Securities, Funds) (FSAGAMAA)

akta.pro secondary industries

Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB), Private Credit & Loan Tokenization Platforms (FSADAEAD), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD)

Keywords

• Tokenized yield products
• Digital asset platform
• Asset tokenization services
• Stablecoin savings tokens
• Blockchain lending marketplace

Headquarters

HQ city

Somerset West

HQ country

South Africa

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Token Swap Fees: RainFin charges a 0.1% swap fee when users exchange tokens on the platform. This applies to all token swap transactions including ZARx to ZAR-ST, USDx to USD-ST, and other token conversions.
2. AUM Revenue: RainFin generates revenue from assets under management on the platform through their consulting and tokenization services, collecting fees from partners' tokenized assets.
3. Consulting Services: RainFin Consulting provides legal structuring, asset tokenization, and financial utility services to partners, generating revenue through professional services engagements.
4. Token Mint/Redemption: USDC withdrawals to Ethereum Mainnet and stablecoin minting/redemption capabilities through smart contracts may involve fees depending on network conditions and thresholds.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

RainFin runs a regulated tokenized financial services platform via its Alpha App, offering five blockchain-based tokens (USDx, ZARx, USD-ST, ZAR-ST, USD-PC) for investing, earning yield, borrowing, and cross-border transfers. It also sells asset tokenization and consulting services built on its proprietary XCAP Network blockchain, with collateral ties to BlackRock's BUIDL fund, Ondo's OUSG, and Garrington Private Credit.

Product overview

RainFin is a regulated South African fintech platform offering a suite of tokenized financial products built on the XCAP Network blockchain. The platform provides five core token products: USDx and ZARx as base deposit tokens, USD-ST and ZAR-ST as savings tokens with yield targets, and USD-PC as a private credit investment token. Users access these products through the Alpha App, which enables investing, earning yields, borrowing, and cross-border remittance. The consulting arm provides asset tokenization services for partners looking to issue their own tokenized products on the XCAP Network.

Differentiator

Problem solved

Functional benefit

Products and services

• USDx (USD Deposit Token) RainFin's USD base token, purchased when depositing USDC or USD onto the platform, functioning as an on-demand USDC-based token secured by USDC deposits from Ethereum Mainnet. Targets ~1.75% APY and is freely transferable on the XCAP Network for retail and corporate users seeking USD exposure and yield.
• ZARx (ZAR Deposit Token) RainFin's ZAR base token, purchased when depositing ZAR onto the platform. An on-demand ZAR-based token secured by tier 1 bank deposits (ABSA Liquidity Plus Account), targeting ~2.30% APY and redeemable for ZAR, built for South African users and corporate ZAR holders.
• USD-ST (USD Savings Token) USD-denominated yield product backed by BlackRock BUIDL through Ondo's OUSG, providing liquid exposure to short-term US Treasuries. Targets USD money market returns minus 0.25% (~5.2% APY), with daily on-chain collateral verification via Proof of Reserves and up to $30M daily redemption via smart contracts.
• ZAR-ST (ZAR Savings Token) ZAR-denominated prime-related yield product aiming for repo rate plus 1 (~8% APY), backed by private credit and tier 1 bank deposits. Designed for South African users and corporate ZAR holders seeking higher-yield ZAR-denominated exposure.
• USD-PC (USD Private Credit Token) Private credit investment token backed by Garrington Private Credit Strategy (an En Commandite Limited Partnership), providing exposure to senior secured loans underpinned by tangible assets. Targets 8-10% net USD returns annually with monthly redemptions; available on XCAP and Arbitrum networks.
• Alpha App User-facing RainFin financial services platform enabling users to invest, transact, save, borrow, and send funds globally. Supports ZAR and USD-denominated tokenized products, with self-serve KYC onboarding and funding via EFT, card, or USDC.
• RainFin Consulting Professional services that provide legal structuring, asset tokenization, issuance technology (XCAP Network), and distribution utility for tokenizing real-world assets. Targeted at partner CASP licensees, FSPs, banks, and other regulated financial institutions.

Quantifiable outcome

• Users can earn up to 10% yield on USD stablecoins through USD-PC token
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• BlackRockcoreTechnology or IntegrationUSD-ST tokens are backed by BlackRock USD Institutional Digital Liquidity Fund (BUIDL) through OUSG (Ondo USD Short-duration Government Securities). BUIDL invests 100% in cash, US Treasury bills, and repurchase agreements. USD-ST inherits BUIDL's daily redemption capability of up to $30M via smart contracts.
• Ondo FinancecoreTechnology or IntegrationOndo's OUSG (USD Short-duration Government Securities) provides the collateral backing for RainFin's USD-ST tokens. OUSG offers liquid exposure to short-term US Treasuries with 24/7 stablecoin minting and redemptions, minimum investment of $100k with instant redemptions.
• Garrington Private CreditcoreTechnology or IntegrationUSD-PC tokens are backed by Garrington Private Credit Strategy - an En Commandite Limited Partnership. The strategy targets 8-10% net USD returns through senior secured loans underpinned by tangible assets. Garrington has 25 years experience and 10-year track record managing the strategy.
• XCAP NetworkcoreTechnology or IntegrationXCAP Network is the underlying blockchain infrastructure for RainFin's token issuance. It's a Public Permissioned EVM-compatible blockchain with Proof of Authority consensus using licensed FSP validators (banks, stock exchanges, credit providers). Features Byzantine fault-tolerant protocol rooted in DAGs and ERC1400 security tokens.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Ondo Finance: Leading RWA tokenization platform offering OUSG (the very collateral backing RainFin's USD-ST) and other tokenized Treasury products; broader, US-anchored, but operates in the same tokenized-yield-on-Treasuries category that RainFin's USD-ST occupies.
• Luno: Large global crypto exchange with strong South African presence offering buying, selling, and earning products on crypto assets; competes for the same retail investor wallet and has materially greater brand and liquidity advantages.

Direct peers

• Maple Finance: Institutional on-chain private credit marketplace that tokenizes senior-secured loan pools with target returns similar to RainFin's USD-PC (8-10%); competes for the same digital-asset private credit investor base and demonstrates the broader credibility of the category.
• Centrifuge: Decentralized RWA protocol tokenizing receivables, invoices, and private credit on-chain with Tinlake pools; comparable to RainFin's tokenization and private credit strategy, though operates on public Ethereum rather than a permissioned network.
• Revix: South African platform offering crypto basket products and yield-earning accounts to retail investors; directly comparable target customer (South African retail seeking USD yield and diversification) and product mix (yield-bearing crypto products).

Regional players

• VALR: Major South African crypto exchange offering trading, staking and yield products in ZAR; competes with RainFin for South African crypto-native investors seeking yield, though operates as a centralized exchange rather than a tokenization issuer.

Others

• Stader Labs: Multi-chain liquid staking platform; while not directly comparable in product, represents the broader category of regulated yield-bearing tokenized instruments that RainFin competes with for yield-seeking crypto investor capital.

Emerging players

• MakerDAO (Sky): Decentralized protocol issuing DAI/USDS with the Dai Savings Rate offering USD yield backed by tokenized Treasuries and RWAs; competes for the same on-chain USD yield investor and demonstrates the competitive yield benchmark RainFin must exceed.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/Rainfin1
• LinkedInlinkedin.com/company/rainfin-pty-ltd
• Facebookfacebook.com/RainFinOfficial

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rainfin