Rain Raises $250M as Stablecoin Payments Gain Ground Worldwide

New funding positions Rain to scale card-based stablecoin payments as data shows USDT is increasingly used for small, everyday transactions globally.

Stablecoin payments company Rain has raised $250 million following a recent private funding round. The fresh funding arrives as global crypto participants increasingly turn to stablecoins for everyday payments and remittance. Rain explained that the funds will be used for international expansion and building a more robust payment infrastructure.

Rain Funding Round Lifts Valuation to $1.95B as Stablecoin Usage Grows

According to a Bloomberg report, the funding round was led by US investment management firm ICONIQ. Other investors included Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Lightspeed, and Galaxy Ventures.

Rain co-founder and Chief Executive Officer Farooq Malik confirmed the details in an interview with Bloomberg. The latest raise brings the company’s total funding to more than $338 million and takes its valuation to $1.95 billion.

With this capital injection, Rain looks to expand and claim a top spot in the global stablecoin market. As such, part of the capital generated will be invested in building its expertise and infrastructure.

Malik also stated that the added capital allows the company to work directly with regulators and secure licenses as it enters new markets. At the product level, Rain supports the issuance of stablecoin-linked cards on the Visa network.

Basically, the platform allows users to carry out daily activities such as payments or cash withdrawals from ATMs. Startups in countries with weak currencies or limited banking access rely on these cards to offer basic financial services.

Cards issued through Rain already work in more than 150 countries, allowing users to spend stablecoins across various markets. The company is also working to connect with additional payment systems, including the US-based ACH network and Europe’s SEPA system, through partner banks. With these systems, users would be able to conduct crypto-to-fiat transactions.

Rain Pushes Expansion as Pro-Crypto US Policy Fuels Stablecoin Demand

Rain is also open to growth through acquisitions. Over the past year, the company has acquired the rewards platform Uptop and the currency conversion provider Fern. Malik said the company is focused on expanding into new regions while strengthening partnerships that support payments and settlement services.

Notably, Rain’s expansion plans come as stablecoin activity continues to climb worldwide. As spotted by Artemis Analytics, the total stablecoin transaction volumes for 2025 jumped by 72% to $33 trillion.

Analysts have pointed to Trump’s pro-crypto policies as the major growth driver of these fiat-pegged assets across financial services and payments.

USDC, the dollar-backed token issued by Circle Internet Group, led stablecoin activity with $18.3 trillion in transactions last year. Tether Holdings followed closely, with its USDT token recording $13.3 trillion in transaction volume.

Retail Payments Drive Surge in USDT Usage Across Global Market

New data offers deeper insights regarding Tether’s USDT usage among everyday users. According to Chief Executive Officer Paolo Ardoino, USDT processed $156 billion in payments of $1,000 or less in 2025, based on data from Chainalysis and Artemis.

_Image Source: __X/Paolo Ardoino
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Daily transfers in this range now exceed $500 million, pointing to growing use of USDT for smaller, everyday payments rather than large trades.

Generally, retail-level payments are linked to remittances, salaries, retail purchases, savings, and peer-to-peer payments. Hence, this trend shows that stablecoins are being used more like cash or basic bank accounts, especially where traditional financial services are expensive or unreliable.

As everyday stablecoin use grows, institutions like Rain are positioning to connect digital dollars to card networks and payment systems. The company is working to bring stablecoins into everyday spending as regulators and users pay closer attention.