Rain Secures $250M in Series C Funding to Advance Stablecoin Payment Infrastructure

Rain, a provider of stablecoin payment infrastructure, has successfully raised $250 million in a Series C funding round, led by ICONIQ. This investment values the company at approximately $1.95 billion, increasing its total funding to over $338 million.

Key Takeaways

Rain has raised $250 million in Series C funding, valuing the company at $1.95 billion.
The funding round was led by ICONIQ and involved several other notable investors.
Rain is enhancing its stablecoin payment infrastructure, facilitating seamless integration with existing payment systems.
The company aims for global expansion and product growth to cater to the rising demand for stablecoin payments.

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Stablecoins Evolving Into Core Payment Solutions

Initially perceived as mere trading instruments within cryptocurrency markets, stablecoins are transitioning into essential tools for global value transfer.

Rain is positioning itself at the forefront of this evolution, developing infrastructure that enables businesses to utilize on-chain payment systems while ensuring that user experience remains unaltered. Their platform empowers companies to integrate stablecoins while adhering to compliance requirements, ensuring usability and compatibility with current payment networks.

“Stablecoins are rapidly emerging as the standard method for transferring money in the 21st century,” stated Rain CEO and co-founder, Farooq Malik. “For widespread adoption, we need payment solutions that function seamlessly for users. This funding enables us to provide that infrastructure in new markets and assist enterprises in scaling internationally.”

Comprehensive Infrastructure for Enterprises with Global Coverage

Rain’s complete platform allows companies to issue stablecoin-linked debit cards that are accepted wherever Visa operates. It also facilitates the conversion of fiat currency into stablecoins, wallet management, rewards integration, and payouts — all through one partner.

Currently, Rain manages an annual transaction volume exceeding $3 billion, collaborating with over 200 partners, including Western Union, Nuvei, and KAST. As a Visa Principal Member, Rain provides services in over 150 countries, functioning as a bridge between traditional payment systems and blockchain-enabled transactions.

Plans for Expansion and Product Development

Rain intends to utilize the capital from its Series C funding to broaden its licensed operations across North America, South America, Europe, Asia, and Africa. This expansion will enable partners to launch compliant stablecoin payment solutions on a global scale. Additionally, the company plans to enhance its capabilities through potential strategic acquisitions and the development of new products.

Kamran Zaki, a partner at ICONIQ, commented that Rain showcases an exceptional combination of regulatory preparedness, comprehensive technology, and genuine scalability.

“We see a limited opportunity to establish the primary platform that enterprises will depend on as they transition from stablecoin trials to full production,” Zaki remarked.

With regulatory conditions improving and businesses increasingly seeking programmable, continuously available payment infrastructures, Rain’s focus on stablecoin-driven payments positions it to become a fundamental component of the global financial ecosystem.