Visa-Linked Stablecoin Platform Rain Raises $250M at $1.95B Valuation

Stablecoin infrastructure firm Rain has secured $250 million in a Series C funding round, valuing the company at $1.95 billion.

The round was led by ICONIQ, with additional participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, and Galaxy Ventures. This brings Rain's total funding to over $338 million, a figure that reflects the growing demand for stablecoin-based payment solutions.

The capital raise will be used to expand Rain's presence in key markets across North America, South America, Europe, Asia, and Africa. The firm also plans to deepen its regulatory compliance and launch new products to support the adoption of stablecoin infrastructure.

Why Did This Happen?

Stablecoins are becoming a significant component of global payment systems. Rain has positioned itself as a bridge between traditional financial institutions and the evolving crypto ecosystem. The firm's technology enables companies to launch compliant stablecoin cards on the Visa network, supporting instant, secure, and cost-effective transactions.

The funding comes amid a broader trend of rising stablecoin adoption. Rain's active card base increased 30x in 2025, while annualized payment volume rose 38x, signaling strong market demand.

How Will the Funds Be Used?

Rain plans to expand its operations in key markets globally. This includes deepening partnerships with financial institutions and regulatory bodies to ensure compliance as the global regulatory environment evolves.

The firm will also use the funds to invest in new products and strategic acquisitions. In the past year, Rain has acquired Uptop and Fern, two platforms offering rewards and currency conversion services.

Rain's technology supports major stablecoins such as USDT and USDC across multiple blockchain networks, including Ethereum, Solana, and Tron. The company's infrastructure allows businesses to offer stablecoin-powered services like rewards, on/offramps, and secure wallets.

What Are Analysts Watching Next?

Investors and analysts are closely watching how Rain navigates the evolving regulatory landscape. With more countries introducing stablecoin-specific regulations, the ability to secure licenses quickly and operate across jurisdictions is a key competitive advantage.

The success of Rain's expansion into new markets will also be a key indicator of the broader viability of stablecoin infrastructure. The firm's ability to maintain its growth trajectory while adapting to regulatory changes could influence investor sentiment toward the sector.

As stablecoins continue to gain traction, Rain's role in enabling global, compliant transactions could solidify its position as a critical player in the digital asset ecosystem.