$250 million in funding, $1.95 billion valuation: How Rain stands out in the stablecoin payment card race

Stablecoin company Rain announces completion of $250 million in funding, with a valuation of $1.95 billion. This round was led by ICONIQ, with participation from well-known institutions such as Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. To date, Rain’s total funding has exceeded $338 million. This financing occurs amid a warming trend in the stablecoin sector, reflecting continued capital optimism for this field.

Business Logic of Stablecoin Payment Cards

Rain’s Differentiated Positioning

Rain’s core business is helping clients launch stablecoin cards on the Visa network. This approach is quite interesting — it’s not about creating stablecoins themselves, but about building an application layer for payments based on the Visa network. This means Rain is bridging traditional payment infrastructure and crypto assets, enabling users to more conveniently use stablecoins for daily transactions.

Compared to pure stablecoin projects, this model has several advantages:

• Leveraging Visa’s payment network for broad coverage and high user acceptance
• Reducing compliance risks by operating within traditional payment frameworks
• Providing practical use cases for both institutional and individual users

Data Support for Sector Popularity

According to the latest data, the stablecoin trading volume is projected to reach $33 trillion by 2025, setting a new record. What does this number indicate? Stablecoins have become the most vibrant part of the crypto ecosystem — not only as a medium of exchange but also as a real tool for value transfer.

In this context, stablecoin payment applications are no longer niche needs but essential. Rain’s Visa card product is seizing this opportunity.

Use of Funds and Global Expansion Plans

Rain plans to use this funding for two main purposes:

• Expanding market presence in North America, South America, Europe, Asia, and Africa
• Helping adapt to the rapidly changing global regulatory environment

This reflects two realities: first, the market potential for stablecoin payments is global; second, regulatory compliance is a core challenge for this type of business. Being able to meet regulatory requirements across different regions while maintaining a consistent user experience is itself a competitive advantage.

What the Investment Lineup Says

The investor lineup in this round is noteworthy. ICONIQ, Dragonfly, and Bessemer are all institutions with deep involvement in the crypto space. Their participation indicates that Rain has not only secured funding but also industry recognition. The involvement of these firms usually signals confidence in Rain’s business model and market prospects.

Additionally, Rain’s stablecoin payment card has already launched on the Plasma network, demonstrating that the product has moved beyond just a fundraising story to real-world deployment.

Future Highlights

The stablecoin payment card sector is still in its early stages. Rain’s ability to secure such funding and valuation suggests the market believes in the enormous potential of this direction. Key areas to watch include:

• Rain’s progress in various regional markets
• Product iterations under evolving regulatory environments
• Competitive dynamics within the Visa ecosystem
• Sustainability of stablecoin trading volumes

Summary

Rain’s latest funding round reflects an important trend in the stablecoin ecosystem: a shift from pure asset issuance to payment application layers. In the context of a $33 trillion stablecoin trading volume, those who can effectively utilize stablecoins will seize this wave. Rain’s choice of Visa and payment cards as an entry point makes both business sense and practical sense. Capital backing indicates market confidence in this approach, with subsequent execution and regulatory adaptation being key factors.