Rain Secures $250M Funding to Scale Stablecoin Cards and Payment Rails

Another quarter, another quarter-billion dollar crypto funding round—but this time, it's aimed squarely at your wallet.

Rain just landed a massive $250 million war chest. The target? Building the plumbing to make stablecoins spendable everywhere. Think payment cards that bypass traditional banking rails and settlement systems that operate 24/7.

The Stablecoin Sprint

Forget speculative trading. This funding signals a pivot to utility. The goal is to turn stablecoins from portfolio assets into daily drivers—usable for coffee, rent, and everything in between. It's about building the on-ramps and off-ramps that connect crypto's digital efficiency to the physical economy.

Cards, Rails, and Real-World Reach

The capital injection fuels a two-pronged attack. First: scaling card programs that let users spend digital dollars anywhere Visa or Mastercard is accepted. Second: fortifying the underlying payment rails—the infrastructure that moves value globally, instantly, and for fractions of traditional costs.

It's a direct challenge to legacy finance's fee-heavy, time-sucking machinery. Why wait three days for a cross-border settlement when it can clear in seconds?

The Finance Jab

Let's be cynical for a second. In traditional finance, a $250M raise might go towards executive bonuses and stock buybacks. In crypto, it still often goes towards marketing and token incentives. Rain's bet is that actually building usable infrastructure is the smarter—and ultimately more profitable—play.

The Bottom Line

This isn't just about Rain's growth. It's a proxy bet on mass adoption. If they succeed, the line between crypto and cash blurs into irrelevance. The real milestone isn't the funding announcement—it's when you forget you're even using crypto to pay.

Rain Expands Enterprise Stablecoin Card and Wallet Programs

Rain launched in 2021 and provides payment tools that bring tokenized dollars into everyday spending. Its platform lets enterprises convert fiat into stablecoins, load wallets, and issue stablecoin-linked cards. The cards run on the Visa network allowing holders to use them at merchants and withdraw cash at ATMs in over 150 countries.

Furthermore, the firm connects blockchain-based money with traditional payment systems. It lets businesses convert fiat currency into stablecoins and manage balances. Companies can then pay vendors, employees, or customers using stablecoins.

Chief executive Farooq Malik said the firm grew over the past year. He reported a 30x increase in the active card base and a 38x jump in annualized payment volume. Rain also said its technology supports over $3 billion in annualized transactions. It serves more than 200 companies, including Western Union, Nuvei, and KAST.

We’re not trying to reinvent user behavior.
Our goal is to make onchain feel like nothing at all, while unlocking the benefits under the hood.

No new habits. Just cards that swipe, wallets that feel familiar, and money that moves fast.

Growth strategy targets new regions and licenses

Rain said it plans to expand across North America and South America. It also aims to deepen operations in Europe, Asia, and Africa. The company said it wants to grow its enterprise customer base in each region.

Malik told Bloomberg that the company wants to allocate resources to engage with regulators. He expects more jurisdictions to publish rules for stablecoins, custody, wallets, and related infrastructure. The company expects licensing work to shape its go-to-market timeline in each region.

The firm also plans to connect with additional payment systems through partner institutions. The company stated that it is working on U.S. ACH transfers and the European SEPA network. Those links could support more settlement options for enterprise clients.

Rain said acquisitions may support product expansion and market entry. The company acquired rewards platform Uptop and currency conversion platform Fern. The firm said it will continue to invest in capabilities that support stablecoin payments.

Stablecoin Explosion as USDC Leads $33 Trillion Global Transaction Boom

Investors back programmable payment infrastructure

ICONIQ partner Kamran Zaki said enterprises are shifting from legacy networks to programmable infrastructure. He stated that firms now select platforms as they MOVE from testing to production. Zaki noted the firm’s focus on mainstream use cases may match enterprise demand.

Malik also added that the new capital will help Rain enter new markets and support more launches.

“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” Rain’s CEO and Co-founder, Farooq Malik, stated.

Rain’s round landed during a recovery in fintech venture activity. Crunchbase data indicate that global venture funding to fintech startups reached over $52 billion across 3,733 deals in 2025. The funding followed $40.9 billion across 4,813 deals in 2024.

Stablecoins have also gained attention from large financial institutions because they offer near-instant settlement and easier cross-border transfers. Moreover, a clear US regulatory stance has encouraged traditional firms to explore crypto products.

Stablecoin Flows Projected to Reach $56 Trillion by 2030