Rain Raises $58M to Pioneer Stablecoin Payments via Visa Network

Rain, a stablecoin payment infrastructure provider, secured $58 million in a funding round led by Samsung Next and Sapphire Ventures. The capital injection follows a $24.5 million Series A five months prior, bringing total funding to $88.5 million. Dragonfly, Galaxy Ventures, and Lightspeed participated in the round.

The company aims to bridge blockchain-based stablecoins with traditional payment systems by enabling Visa-network compatibility. "Rain is turning stablecoins into money usable for everyday commerce," stated Sapphire Ventures' Jai Das, newly appointed to Rain's board. Transaction volume has grown tenfold since January 2025, with millions of processed purchases across 150 countries.

CEO Farooq Malik positioned stablecoins as "the backbone of global commerce," highlighting Rain's infrastructure for issuing stablecoin-backed cards and wallets. The funding signals institutional confidence in blockchain payments, particularly for cross-border transactions.