Rain, a stablecoin infrastructure platform, has raised $58m in a Series B funding round led by software venture capital firm Sapphire Ventures.
The funding round saw additional participation from Dragonfly, Endeavor Catalyst, Galaxy Ventures, Lightspeed, Samsung Next, and Norwest.
This funding increases Rain’s total capital raised to $88.5m. This includes the $24.5m secured by the company in March 2025 in an investment round led by Norwest Venture Partners.
Sapphire Ventures president and partner Jai Das said: “Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent.
“Rain is working to fix that by connecting stablecoins to Visa’s global network, turning them into money you can actually use for everyday commerce.”
Rain provides critical infrastructure for fintechs, banks, and marketplaces aiming to implement stablecoin-powered cards, wallets, and payment programmes.
According to the company, the investment comes as interest in stablecoins grows due to regulatory frameworks like the GENIUS Act in the US and the MiCA framework in Europe. These regulations provide a clearer path for stablecoin adoption.
Rain’s platform allows partners to embed stablecoins into financial operations using a single application programming interface (API). The company is expanding its services into regions such as Europe, the Middle East, Africa, and Asia-Pacific.
It enables stablecoins to be used globally through both physical and virtual card programmes accepted by Visa. The company reports that its transaction volume has grown tenfold since January 2025.
Partners like Nuvei and Avalanche utilise Rain’s infrastructure for a variety of operations including consumer purchases and cross-border payroll.
As a Visa Principal Member, Rain issues cards that can be used in over 150 countries. Its platform is built natively for stablecoins and meets compliance standards including PCI DSS, SOC 2, and audited smart contracts.
Unlike systems retrofitted from fiat rails, Rain settles 100% of card payment volume directly in stablecoins on the Visa network.
The new funding will support Rain’s expansion plans and platform enhancements. The company intends to hire additional engineering, commercial, and compliance staff while assisting existing partners in scaling their programmes.
Rain CEO and co-founder Farooq Malik said: “Stablecoins are shifting to the backbone of global commerce.
“In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”
Recently, Rain introduced native support for USD+, a yield-bearing stablecoin issued by Dinari. This integration allows partners such as Offramp to offer customers outside the US digital dollar accounts that automatically earn yield and are usable globally through Rain-issued cards.
