Home / Business and Economy / Rain Secures $250M, Valued at $1.95B for Stablecoin Growth
Rain Secures $250M, Valued at $1.95B for Stablecoin Growth
9 Jan
Summary
- Rain announced $250 million in funding led by ICONIQ.
- The stablecoin firm reached a valuation of $1.95 billion.
- Capital will fuel expansion into new markets and support enterprises.
Rain, a prominent stablecoin firm, has successfully raised $250 million in a Series C funding round, propelling its valuation to $1.95 billion. The investment, spearheaded by ICONIQ, underscores the escalating investor enthusiasm for the cryptocurrency market. This latest capital infusion brings Rain's total funding to over $338 million.
This funding round follows closely on the heels of a previous one, occurring just four months later. Rain's valuation has surged more than seventeen-fold in a mere ten-month period. The company specializes in providing businesses with the infrastructure to issue and manage payment cards and wallets linked to stablecoins, facilitating transactions wherever Visa is accepted.
CEO Farooq Malik stated that stablecoins are rapidly becoming the future of financial transactions, emphasizing the need for seamless user experiences. He noted a 30-fold increase in their active card base and a 38-fold rise in annualized payment volume over the past year. The newly acquired capital will be strategically deployed to enter new markets, scale operations, and bolster support for enterprise launches.
