Rain Receives $250 Million Funding to Expand Global Stablecoin Payment Infrastructure Translation: Rain Receives $250 Million Funding to Expand Global Stablecoin Payment Infrastructure

The company Rain, which specializes in infrastructure for payments using stablecoins, successfully raised $250 million in a Series C funding round led by ICONIQ.

Participants in this round included Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst.

The total funds raised in this round amounted to $338 million, and Rain’s valuation reached $1.95 billion.

The platform offers services for issuing Visa cards backed by stablecoins, facilitates payments, provides fiat-to-digital currency conversions, and ensures secure wallet operations.

According to the press release, over the past year, Rain has processed more than $3 billion in transactions for over 200 partners, such as Western Union, Nuvei, and KAST.

«Stablecoins are quickly becoming the primary method for transferring money in the 21st century, but for them to gain widespread adoption globally, we need cards and apps that simply work,» stated Faruk Malik, co-founder and CEO of Rain.

He noted that the number of active cards surged 30 times in 2025, while the total payment volume increased by 38 times.

The funds raised will be used to expand the company’s presence in key markets across North and South America, Europe, Asia, and Africa. This capital will also enable enhancements to the payment platform through strategic acquisitions and the launch of new products.

Recall that according to Artemis, by 2025, the overall volume of transactions involving stablecoins grew by 72% — reaching $33 trillion. The leading stablecoin by transmitted value was USDC from Circle, surpassing USDT from Tether.