Stablecoin-backed card firm Rain, which partnered with Visa this twelve months, has raised $58 million as segment of a collection B funding round, the firm mentioned in an announcement Thursday.
The elevate brings the firm’s total funding to $88.5 million. Rain, which closed its A round 5 months previously, mentioned the money would be extinct to grow the company’s platform and “give world institutions doubtlessly the most versatile, modular, and compliant stablecoin infrastructure readily available.”
Enterprise capital company Sapphire Ventures led the funding round, with Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Subsequent, Lightspeed, and Norwest additionally contributing.
“Stablecoins are provocative to the backbone of world commerce,” Rain CEO and co-founder Farooq Malik mentioned. “In its earliest build, money moved straight away. Now we agree with spent centuries slowing it down.”
Rain this twelve months partnered with Visa to push ahead with its stablecoin-linked cards.
In the release, Rain mentioned that’s intent on making stablecoins “straight away usable anyplace Visa is permitted through its physical and digital card programs, processing millions of transactions at some level of 150+ international locations.”
The forecast? Heavy Rain. ☔️
We’ve raised $58M in Sequence B funding—led by @SapphireVC with reinforce from @Dragonfly_xyz, @galaxyhq, @SamsungNext, @lightspeedvp, @NorwestVP & Endeavor Catalyst.
Due to our crew, partners, and buyers for serving to us rebuild world funds… pic.twitter.com/mspsObE4sV
— Rain (@raincards) August 28, 2025
The firm mentioned that it had grown transaction volume by tenfold this twelve months with such portfolio partners as Nuvei, Avalanche, Dakota, and Nomad using Rain infrastructure for service provider payouts, day after day client purchases, B2B exhaust, and immoral-border payroll.
Visa has been making major inroads into the crypto house, in particular with stablecoins. In April, it partnered with Bridge, a unit of payment services and products provider Stripe, to give stablecoin-linked debit cards in Latin American international locations. In 2021, it announced that it supported USDC on Ethereum.
Stablecoins are digital tokens operating on blockchains that are pegged to non-volatile resources, often dollars. With a exact ticket, such cryptocurrencies were previously extinct by merchants to enter and exit digital asset trades without the need for banks.
Nonetheless now, banks, major corporations, in conjunction with Meta and Amazon, and even U.S. states are all drawn to issuing the tokens, that are supposed to escape funds leveraging blockchain know-how.
U.S. President Donald Trump in July signed the GENIUS Act into rules, establishing a framework for issuing and procuring and selling stablecoins in the U.S.
“Stablecoins agree with scaled to hundreds of billions in circulation, but till now, they couldn’t be without insist spent,” mentioned Sapphire Ventures President Jai Das, who will join Rain’s board. “Rain is working to repair that by connecting stablecoins to Visa’s world network, turning them into money you would in truth use for day after day commerce.”
