Rain Raises $250M Series C to Scale Stablecoin-Powered Payments Infrastructure for Global Enterprises

Led by ICONIQ, the round brings Rains total funding to over $338M and values the company at $1.95B — up more than 17x in just 10 months

The new funding enables Rain to scale its global, compliant footprint, deepen platform capabilities, and invest in new products that redefine how payments work worldwide

NEW YORK, Jan. 9, 2026 /PRNewswire/ — Rain, the enterprise-grade infrastructure for stablecoin-powered payments, today announced a $250 million Series C funding round led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. The round values Rain at $1.95 billion, brings the companys total funding to over $338 million, and comes just four months after its Series B and 10 months after its Series A.

Stablecoins have rapidly evolved from a speculative corner of crypto markets into one of the largest value-transfer rails in the world. The next phase of adoption is about making tokenized money the default way that businesses move funds and consumers get paid, save, and spend. Crossing that chasm requires infrastructure that lets enterprises shift to onchain payment rails while preserving the familiar experiences their users already trust. Rains technology is built to do exactly that.

“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” said Farooq Malik, CEO & Co-founder of Rain. “In the last year, our active card base has increased 30x and our annualized payment volume has increased 38x, but were still in the early innings. This funding lets us bring that infrastructure to new markets and help additional enterprises go live and scale quickly everywhere.”

Rain‘s end-to-end payments platform allows companies to work with a single partner to launch compliant stablecoin cards that work everywhere Visa is accepted, offer rewards, convert fiat into stablecoins, power secure wallets, and facilitate payouts. Today, Rain’s technology facilitates more than $3B in annualized transactions for over 200 partners, including Western Union, Nuvei, and KAST. Programs built on Rain can reach over 2.5 billion people and power everything from everyday consumer purchases like a morning coffee or airline tickets, to critical business expenses such as cloud services and digital advertising.

“We believe were witnessing a shift from legacy payment networks to programmable digital-asset infrastructure, and there is a brief window to help define the default platform enterprises will rely on,” said Kamran Zaki, Partner at ICONIQ. “In our view, Rain has a rare combination of full-stack technology, regulatory readiness, and real-world scale. Their focus on making tokenized money mainstream, rather than a niche financial experiment, may resonate and align with what large enterprises are looking for as they move from exploration to production.”

Rain will use the Series C capital to expand its presence in key licensed markets across North America, South America, Europe, Asia, and Africa, so partners can seamlessly launch compliant solutions around the world. The funding will also enable Rain to deepen its full-stack stablecoin payments platform, including through strategic acquisitions, and to invest ahead of the curve in new products that make stablecoin-powered payments feel invisible to businesses and consumers.