Stablecoin Firm Rain Bags $250M Funding in Series C Round

Rain, a stablecoin infrastructure provider, has announced it received $250 million in a Series C funding round led by ICONIQ. Rain secured the funding at a valuation of $1.95 billion, while its total funding increased to over $338 million.

ICONIQ Leads $250M Funding to Rain

According to a press release, Rain secured the $250 million fund just four months after its Series B and 10 months after its Series A.

While ICONIQ led the Series C, other participants include Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Lightspeed, Galaxy Ventures, FirstMark, Endeavor Catalyst, and Norwest.

Rain plans to deploy the new capital to secure operational licenses. It will also use the fund to expand its presence in North America, South America, Europe, Asia, and Africa. This will ensure partners seamlessly launch compliant solutions around the world. 

Rain also plans to utilize the fund to strengthen its full-stack stablecoin payments platform. Furthermore, Rain will deepen its strategic acquisitions and invest in new products. The goal is to make the platform feel invisible to businesses and consumers.

Rain Building a Strong Business 

As revealed in the announcement, Rain currently issues Visa-linked stablecoin cards in over 150 countries. Also, the firm plans to develop integrations for the U.S. ACH and European SEPA payment networks through partner banks.

Moreover, Rain currently facilitates compliant stablecoin card programs and wallets for more than 200 partners. These include Western Union, Nuvei, and KAST, with over $3 billion in annualized transactions. 

Programs developed on Rain support both everyday consumer purchases and enterprise payments. At the same time, they maintain regulatory compliance.

Besides Rain, Kalshi prediction markets is another crypto platform that recently received funding. In early December, Kalshi raised $1 billion in fresh capital at an $11 billion valuation.

Stablecoin Sector Growth

Back to Rain, its infrastructure push aligns with sustained growth across the stablecoin sector. Currently, the total stablecoin supply is more than $290 billion.

Of this figure, Tether (USDT) dominates the market with a supply of over $186 billion, about 64% of the total. The USDC stablecoin from Circle follows behind with a supply of nearly $75 billion.

Crucially, the surge in stablecoin adoption is based on their appeal for near-instant, cross-border settlement. These attributes have also made stablecoin a prevalent tool for illicit finance. 

Blockchain analytics firm Chainalysis revealed stablecoins accounted for 84% of all illicit crypto transaction volume in 2025.

Moreover, Bloomberg Intelligence recently predicted that stablecoin payment flows could reach $56.6 trillion by 2030.