Visa-powered Rain raises $58M for stablecoin payments
Rain, a Visa-powered stablecoin startup, has raised $58 million in a Series B funding round led by Sapphire Ventures, with participation from Samsung Next, Dragonfly, Galaxy Ventures, Endeavor Catalyst, Lightspeed, and Norwest.
The company plans to expand its infrastructure for stablecoin-based payments, targeting fintechs, banks, and global marketplaces.
Rain’s latest funding round brings its total capital raised to $88.5 million, following a $24.5 million raise in March. The firm describes its services as “enterprise-grade infrastructure” that enables partners to issue stablecoin-powered debit and credit cards, wallets, and payment programs.
“Enterprise interest in stablecoins has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption,” Rain said in its announcement.
Rain’s partnership with Visa allows its debit and credit cards to be accepted anywhere Visa is. The company said transaction volume has increased tenfold since January, highlighting rising demand. Board member Jai Das, president and partner at Sapphire Ventures, emphasized the firm’s role in bridging stablecoins with global payments infrastructure. “Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce,” Das said.
The funding comes at a time of growing institutional and corporate interest in stablecoins. U.S. and European regulations have created clearer frameworks for adoption, with large banks like Bank of America exploring issuing their own USD-pegged tokens. Tether’s USDT remains the largest stablecoin, with more than $167 billion in circulation, followed by Circle’s USDC.
The push to integrate stablecoins into everyday payments is also drawing competitors. Earlier this month, popular crypto wallet MetaMask announced plans to launch the MetaMask Card, enabling spending at Mastercard-accepting merchants by year-end. Rain’s Visa-backed network positions it as a strong player in the race to make stablecoins usable across mainstream commerce.
Rain’s latest funding round brings its total capital raised to $88.5 million, following a $24.5 million raise in March. The firm describes its services as “enterprise-grade infrastructure” that enables partners to issue stablecoin-powered debit and credit cards, wallets, and payment programs.
“Enterprise interest in stablecoins has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which have created a clear regulatory path for adoption,” Rain said in its announcement.
Rain’s partnership with Visa allows its debit and credit cards to be accepted anywhere Visa is. The company said transaction volume has increased tenfold since January, highlighting rising demand. Board member Jai Das, president and partner at Sapphire Ventures, emphasized the firm’s role in bridging stablecoins with global payments infrastructure. “Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent. Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce,” Das said.
The funding comes at a time of growing institutional and corporate interest in stablecoins. U.S. and European regulations have created clearer frameworks for adoption, with large banks like Bank of America exploring issuing their own USD-pegged tokens. Tether’s USDT remains the largest stablecoin, with more than $167 billion in circulation, followed by Circle’s USDC.
The push to integrate stablecoins into everyday payments is also drawing competitors. Earlier this month, popular crypto wallet MetaMask announced plans to launch the MetaMask Card, enabling spending at Mastercard-accepting merchants by year-end. Rain’s Visa-backed network positions it as a strong player in the race to make stablecoins usable across mainstream commerce.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
