Rain, a U.S.-based stablecoin infrastructure provider, completed a Series C funding round, raising $250 million. Global investment firm Iconiq led the round. This financing values the company at $1.95 billion, bringing Rain’s total funding to $338 million.
Rain operates an end-to-end platform enabling businesses to launch compliant stablecoin cards. As a principal member of the Visa payment network, these cards are accepted wherever Visa is used. The new capital will fund global expansion across the Americas, Europe, Asia, and Africa.
The company reported a 30-fold increase in its active card base during 2025. This growth underscores the increasing integration of stablecoins within traditional payment networks.