Slash Financial has announced the launch of Global Cards, a Visa card product enabling international businesses to spend globally without requiring a US legal entity such as a limited liability company or employer identification number.
The product is issued on the Visa network and enabled by Rain's global stablecoin-powered card infrastructure, with all stablecoin processes abstracted from the end user experience.
Global Cards extends Slash's existing Global USD product, which gives foreign businesses access to accounts for storing, sending, and spending funds in US dollar terms without US entity formation. Underlying transactions are powered by Slash's proprietary stablecoin, USDSL: payments received via ACH or wire are converted into USDSL and transmitted via blockchain to the user's wallet, while outbound payments follow the reverse process. To the end user, transactions appear as standard USD transfers with a conventional Visa card experience.
Market gap and infrastructure model
Access to US financial infrastructure, including card issuance, has historically required international companies to navigate entity formation processes that are complex, time-consuming, and costly. Global Cards removes that requirement, giving international businesses a card-based spending layer within Slash's Global USD account infrastructure from the outset.
Rain provides the payment infrastructure for transaction authorisation and settlement behind the scenes, enabling the stablecoin-to-card layer to function seamlessly without exposing blockchain mechanics to end users. The product is available immediately.
Commenting on the news, Victor Cardenas, CEO and Co-Founder of Slash Financial, noted that every hour and dollar spent navigating entity formation, foreign exchange fees, or fragmented payment tools is time and money that businesses could direct toward growth, and that Global Cards reduces the cost and complexity of managing card-based spend across borders.
In April, Slash announced that it obtained USD 100 million in a Series C funding round led by Ribbit Capital, with co-investment from Khosla Ventures and Goodwater Capital. The round brought the company's valuation to USD 1.4 billion and secured its unicorn status. Slash also rolled out Twin, an AI-powered financial agent described as an AI Chief of Staff for business finances.
