Onramp to Rain Contract

Limited: Rain-Managed programs onlyThis onramping feature is available for Rain-Managed programs only. Partner-Managed tenants can use the Onramping feature directly from the Rain dashboard.

Before you begin

Make sure you have:

US bank account: this is where the user’s or company’s funds originate from.
Rain collateral contracts: automatically deployed when a user’s or company’s compliance status is Approved under a Rain-Managed program.
API keys: you need access to the contracts endpoints to enable this feature.

Compliance data requirements

Enabling onramp requires the user or company to have completed verification: Rain sends their verified identity data (name and date of birth for consumers, company name for companies) to the banking provider when it provisions the virtual account. A contract whose customer hasn’t been through verification, or that isn’t associated with a customer, can’t enable onramp — the API returns a 400 such as Contract has no associated team, and a chain the provider doesn’t support returns 400 Unsupported chain ID.

Enable onramping

Enabling Rain’s onramp feature means generating unique ACH, RTP, and wire transfer details on your user’s smart contract.

API flow

When a user wants to onramp fiat into their smart contract, you need to enable the onramp feature on their contract and provide them with dedicated banking credentials. Any funds sent to these credentials are automatically converted to stablecoin and deposited into their smart contract.

Action / step

The steps above, in text:

#	Actor	Step
–	User	Requests account details from the partner
1	Partner	Gets the user’s smart contract details
2	Rain	Returns the available collateral contracts
3	Partner	Enables the onramp feature on the chosen contract
–	Rain	Accepts the update
4	Partner	Gets the user’s smart contract again
–	Rain	Returns the generated virtual account details
5	Partner	Provides the ACH, RTP, and wire details to the user

Steps to enable onramping

You need to call these API endpoints synchronously to get the virtual account details for a user or company.

Get the user's smart contract

Call Get smart contract information for a user with the userId or companyId of the entity requesting to transfer. This returns the entity’s available contracts from their respective chains. Use the contractId for the contract the entity intends to fund.

Enable the onramp feature

Call Update a smart contract to enable the Onramp feature. Once the operation completes, this returns an Accepted response body.

Retrieve the generated virtual account

Call Get smart contract information for a user again with the same userId or companyId. The contract object now contains the generated onramp account details the entity uses to fund the contract.

Sample response

[
  {
    "id": "86ce05e5-62e3-48d6-bf37-473af62d9361",
    "chainId": 84532,
    "controllerAddress": "0x54d02DcB38B76A67dC9368D8457D1F384B865c70",
    "proxyAddress": "0x92dAaFeAe887d45a52D2AB4FD74aEc3Bf9Ab6A78",
    "depositAddress": "0x92dAaFeAe887d45a52D2AB4FD74aEc3Bf9Ab6A78",
    "tokens": [
      {
        "address": "0x29684075a3C86ea11D9964BcAf0F956e801396bD",
        "balance": "0.0",
        "exchangeRate": 1,
        "advanceRate": 100
      },
      {
        "address": "0x036CbD53842c5426634e7929541eC2318f3dCF7e",
        "balance": "0.0",
        "exchangeRate": 1,
        "advanceRate": 100
      },
      {
        "address": "0x10b5Be494C2962A7B318aFB63f0Ee30b959D000b",
        "balance": "0.0",
        "exchangeRate": 1,
        "advanceRate": 100
      }
    ],
    "contractVersion": 2,
    "onramp": {
      "ach": {
        "beneficiaryName": "JOHN DOE",
        "beneficiaryAddress": "123 Main St, Austin, TX, 78701",
        "beneficiaryBankName": "Partner Bank, N.A.",
        "beneficiaryBankAddress": "123 Bank St, New York, NY, 10038",
        "accountNumber": "0788752697",
        "routingNumber": "021110021"
      },
      "rtp": {
        "beneficiaryName": "JOHN DOE",
        "beneficiaryAddress": "123 Main St, Austin, TX, 78701",
        "beneficiaryBankName": "Metropolitan Commercial Bank, N.A.",
        "beneficiaryBankAddress": "456 Bank St, New York, NY, 10038",
        "accountNumber": "0777752697",
        "routingNumber": "021000021"
      },
      "wire": {
        "beneficiaryName": "JOHN DOE",
        "beneficiaryAddress": "123 Main St, Austin, TX, 78701",
        "beneficiaryBankName": "Cross River Bank, N.A.",
        "beneficiaryBankAddress": "321 Bank St, New York, NY, 10038",
        "accountNumber": "0777777697",
        "routingNumber": "021000021"
      }
    }
  }
]

What happens when funds are received

Once you provide the virtual account details to your user, they can initiate a transfer from their US bank account using any of the three available rails:

ACH: funds typically appear within 1-3 business days.
RTP: funds typically appear within minutes.
Wire: funds typically appear within minutes.

The funds are automatically converted to stablecoin and deposited into their Rain collateral contract.

What’s next

Onramps

If you don’t need funds delivered into a specific collateral contract, use the general payment-routes onramp flow instead.

Withdraw collateral

Move stablecoin back out of a Rain collateral contract.

Review Rain-Managed programs

Understand the requirements and constraints of a Rain-Managed program.

Review payments compliance

See how Rain verifies account owners and screens transactions.

Introduction

Set Up Money Movement

Money Movement

Subtenants

Reconciliation

Onramp to Rain Contract

Before you begin

Compliance data requirements

Enable onramping

API flow

Steps to enable onramping

What happens when funds are received

What’s next

Onramps

Withdraw collateral

Review Rain-Managed programs

Review payments compliance

​Before you begin

​Compliance data requirements

​Enable onramping

​API flow

​Steps to enable onramping

​What happens when funds are received

​What’s next

Onramps

Withdraw collateral

Review Rain-Managed programs

Review payments compliance

Before you begin

Compliance data requirements

Enable onramping

API flow

Steps to enable onramping

What happens when funds are received

What’s next