Rain valuation nears $2 billion after $250 million Series C raise for stablecoin payments firm

Stablecoin infrastructure provider Rain announced it secured $250 million in a Series C funding round led by ICONIQ, bringing its valuation to $1.95 billion and total funding to $338 million. The firm plans to use the capital to secure operational licenses and expand its presence across North America, South America, Europe, Asia, and Africa. Rain currently supports Visa-linked stablecoin cards in over 150 countries and is integrating with U.S. ACH and European SEPA payment networks. CEO Farooq Malik noted that the active card base grew 30x and annualized payment volume increased 38x in the last year, supporting over 200 partners with over $3 billion in annualized transactions. This growth occurs amid a broader stablecoin sector supply exceeding $290 billion.

(Source：The Block)