Rain Secures $250M in Series C Funding Round

Rain, a New York-based stablecoin payments firm, secured $250M in a Series C funding round led by ICONIQ, valuing the company at $1.95 billion.

This funding reflects growing interest in stablecoin infrastructure, potentially accelerating enterprise adoption of digital assets. Market reactions could shift toward increased stablecoin usage as alternatives to legacy payment systems.

Rain, a New York-based stablecoin infrastructure company, has announced a successful $250 million Series C funding round. This strategic investment round values the firm at an impressive $1.95 billion.

The Series C round was led by ICONIQ with significant participation from several high-profile investors. These include Sapphire Ventures, Dragonfly, and Bessemer Venture Partners. Total funding now exceeds $338 million.

The capital will be used to expand Rain’s presence across various key licensed markets, enhancing its global infrastructure. This move is expected to bolster the use of stablecoins in everyday transactions significantly.

Rain CEO Farooq Malik noted increased activity, with the firm witnessing a growth in its annualized payment volume by 38 times. The aim is to render stablecoin payments seamless, facilitating broad enterprise adoption. Farooq Malik stated, “Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work.”

The investment reflects confidence in Rain’s technology and its potential to redefine payment networks through programmable digital assets. Kamran Zaki from ICONIQ highlighted Rain’s regulatory readiness and full-stack tech capabilities.

Rain’s focus on stablecoin-powered transactions positions it favorably in the evolving digital finance landscape. Enhanced regulatory compliance is vital for global expansion, indicating a shift towards more stable, tokenized economic structures.