Rain Raises $250 Million Amid Growing Demand for Stablecoin Payment Solutions Translation: Rain Raises $250 Million Amid Growing Demand for Stablecoin Payment Solutions

The company Rain, a developer of payment infrastructure based on stablecoins, has secured $250 million in a Series C funding round led by ICONIQ.

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

The total amount raised in this round reached $338 million, with Rain’s valuation at $1.95 billion.

The platform offers Visa card issuance services based on stablecoins, facilitates payments, enables conversion of fiat currency to digital coins, and ensures secure wallet operations.

According to a press release, in the past year, Rain processed transactions exceeding $3 billion for over 200 partners, including Western Union, Nuvei, and KAST.

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

He noted that by 2025, the number of active cards multiplied thirtyfold, while payment volumes increased thirty-eight times.

The capital raised will be directed towards expanding its presence in key markets across North and South America, Europe, Asia, and Africa. The funds will also help enhance the payment platform through strategic acquisitions and the launch of new products.

It is worth mentioning that, according to Artemis, in 2025 the total transaction volume involving stablecoins increased by 72% — reaching $33 trillion. Leading in the value transmitted was the USDC from Circle, surpassing USDT from Tether.