Rain Raises $58M To Lead Stablecoin Payments

Rain, a startup issuing Visa debit and credit cards, has successfully raised $58 million in its Series B funding round led by Sapphire Ventures, with participation from Samsung Next, Dragonfly, Galaxy Ventures, Endeavor Catalyst, Lightspeed, and Norwest. Earlier in March, the company secured $24.5 million, bringing its total funding to $88.5 million.

Rain provides stablecoin payment infrastructure for enterprises, targeting fintechs, banks, and marketplaces seeking to issue cards, wallets, and payment programs based on stablecoins. Demand has surged following the GENIUS Act in the U.S. and the MiCA framework in Europe, which established clear regulations for stablecoins.

Stablecoins are expected to become the fastest-growing sector in crypto, potentially reaching trillions of dollars in market size in the coming years. Even major U.S. banks like Bank of America have expressed interest in launching their own stablecoins, thanks to greater regulatory clarity under President Trump. Currently, Tether’s USDT leads the market with over $167 billion in circulation, followed by Circle’s USDC.

Leveraging Visa’s global network, Rain aims to make stablecoins “everyday spendable money.” Rain cards are accepted wherever Visa operates, with transaction volumes growing 10x since January.

Meanwhile, MetaMask is also entering the payments space, with plans to launch the MetaMask Card—a product enabling stablecoin payments at Mastercard-supported merchants—by the end of the year.

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