Rain, a fast-growing stablecoin payments infrastructure provider, has raised $250 million in a Series C round to accelerate its global expansion and product development.
Key Takeaways
- Rain raised $250 million in a Series C round led by ICONIQ, boosting its valuation to $1.95 billion.
- The company has now secured over $338 million in total funding across three rounds in less than a year.
- Rain’s active card base grew 30x and its annualized payment volume surged 38x in 2025.
- The firm plans to scale globally, deepen its technology stack, and invest in new stablecoin-powered payment products.
What Happened?
Rain announced a $250 million Series C funding round led by ICONIQ, with participation from existing investors including Sapphire Ventures, Dragonfly, Galaxy Ventures, Bessemer, Lightspeed, Norwest, Endeavor Catalyst, and FirstMark. The round values Rain at $1.95 billion and follows its Series B in August 2025 and Series A just ten months earlier.
The funding will be used to expand Rain’s presence across North America, South America, Europe, Asia, and Africa, while enhancing its end-to-end platform that enables stablecoin-based payments for enterprises and consumers.
Onchain rails have proven their value.
— Rain (@raincards) January 9, 2026
Rain is making them usable by everyone, and keeping them invisible in the process.
Today, we’re announcing our $250M Series C at a $1.95B valuation to keep building.
🧵 pic.twitter.com/MUniRpHpul
Rain’s Rapid Rise in Stablecoin Payments
Rain has emerged as a major player in the shift toward digital asset-based payments. Its infrastructure allows companies to launch Visa-compatible stablecoin cards, create secure wallets, facilitate fiat-to-stablecoin conversions, and power cross-border payments. As a Visa Principal Member, Rain’s platform supports stablecoins like USDC and USDt across multiple blockchain networks including Ethereum, Solana, Tron, and Stellar.
In 2025, Rain saw extraordinary growth:
- 30x increase in active card users
- 38x growth in annualized payment volume
- Over $3 billion in annualized transactions
- More than 200 partners, including Western Union, Nuvei, and KAST
- Reach across 150 countries and access to 2.5 billion users
Rain is also a launch partner for the Wyoming state FRNT stablecoin, further highlighting its regulatory and enterprise credibility.
Backed by ICONIQ and Top Investors
ICONIQ, the round’s lead investor, praised Rain’s position in the market. Kamran Zaki, Partner at ICONIQ, said:
Rain CEO and Co-founder Farooq Malik emphasized the mission to make stablecoin payments seamless:
What’s Next for Rain?
With its Series C funding secured, Rain plans to:
- Expand its regulatory footprint in key global markets.
- Invest in new features to make stablecoin payments as frictionless as traditional methods.
- Pursue strategic acquisitions to broaden its platform capabilities.
The company is positioning itself as the go-to partner for global enterprises looking to integrate stablecoin payments without compromising on compliance or user experience.
CoinLaw’s Takeaway
I’ve seen a lot of funding announcements in crypto, but Rain’s growth trajectory is something else. To grow 30x in card issuance and 38x in payment volume in just one year is a clear sign that real-world utility for stablecoins is finally here. In my experience, most companies struggle to make tokenized payments “just work” for users. But Rain seems to have cracked the formula by pairing stablecoin innovation with Visa-scale reach. I think this could be a pivotal moment in making blockchain-based payments as ordinary as swiping a debit card.
