Rain, a US stablecoin infrastructure provider and key member of the Visa payment network, has secured significant funding to expand its global presence.
The platform has raised $250 million in a Series C funding round led by global investment firm Iconiq, according to an announcement on Friday.
This round valued Rain at $1.95 billion, and the company raised a total of $338 million after raising $58 million in a Series B round in August 2025 and another $24.5 million in March last year.
The latest round of funding included participation from several existing investors, including Galaxy Digital’s venture arm founded by Michael Novogratz, Sapphire Ventures, Dragonfly, Lightspeed, Norwest, and Endeavor Catalyst.
Rain’s active card base will surge 30x in 2025
Co-founder and CEO Farooq Malik said in a statement that this new round follows Reign’s impressive growth over the last year, with active card base increasing 30x and annual payment value increasing 38x.
“Stablecoins are rapidly becoming the way to move money in the 21st century, but adoption by users around the world requires cards and apps that work properly,” he added.
sauce: rain
Additional investors in the funding include Bessemer Venture Partners and FirstMark, according to the announcement.
Rain aims to expand across the Americas, Europe, Asia and Africa
Headquartered in New York, Rain provides an end-to-end payments platform that enables companies to work with a single partner to launch compliant stablecoin cards that can be used anywhere Visa is accepted.
The platform supports major stablecoins such as USDt (USDT) and USDT (USDT). USDC (USDC), can be used in parallel with various blockchain networks including Ethereum, Solana, Tron, Stellar, etc.
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Rain plans to use the funding to expand its presence in key markets in North and South America, as well as Europe, Asia and Africa.
This funding will also enable Rain to further expand its stablecoin payments platform, including through strategic acquisitions.
“This funding will allow us to bring that infrastructure to new markets, get additional companies up and running everywhere, and scale quickly,” Malik said.
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