Rain raises $58 million to promote stablecoin payments through the Visa network
Rain, a U.S. fintech company specializing in credit cards backed by stablecoins, has successfully raised $58 million in a Series B funding round, bringing its total capital raised to $88.5 million. This investment was led by Sapphire Ventures with participation from major funds such as Dragonfly, Galaxy Ventures, and Samsung Next.
Goals for expansion and strategic collaboration
#Rain will use this capital to develop its platform, providing flexible and regulatory-compliant stablecoin infrastructure for global financial institutions. This season, Rain has partnered with Visa to issue physical and virtual cards, allowing users to spend stablecoins instantly in over 150 countries and millions of Visa acceptance points.
The growing role of stablecoins
According to CEO Farooq Malik, #stablecoin is gradually becoming the "backbone of global trade". Transactions on the Rain platform have increased tenfold this year, with partners like Nuvei, Avalanche, and Nomad using Rain's infrastructure for seller payments, everyday shopping, and cross-border spending. This collaboration comes after President Donald Trump signed the GENIUS Act, establishing the legal framework for the issuance and trading of stablecoins in the U.S., creating a favorable environment for the development of this industry.
