Rain, a provider of enterprise-grade infrastructure for stablecoin-powered payments, has raised US$58 million in a Series B funding round led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest.

The latest funding brings the company’s total capital raised to US$88.5 million and follows its Series A round five months ago.

The company provides a single integration for fintechs, banks, and marketplaces to launch stablecoin-powered cards, wallets, and payment programmes in compliance with regulatory requirements.

Interest in stablecoins among enterprises has increased following the introduction of the GENIUS Act in the US and the Markets in Crypto-Assets (MiCA) framework in Europe, both of which have provided clearer regulatory pathways.

Rain’s vertically integrated platform enables partners to embed stablecoins into their products and operations, from deposits and storage to payments and withdrawals, through a single API.

The firm says its programmes can currently reach more than 1.5 billion people, with expansion underway in Europe, the Middle East, Africa, and the Asia-Pacific region.

Rain has also developed physical and virtual card programmes that allow stablecoins to be used wherever Visa is accepted.

The company reports that it has processed millions of transactions across more than 150 countries, with transaction volume increasing tenfold since January 2025.

Clients such as Nuvei, Avalanche, Dakota, and Nomad are using its infrastructure for merchant payouts, consumer payments, business-to-business spending, and cross-border payroll.

“Stablecoins are shifting to the backbone of global commerce,”

said Farooq Malik, Chief Executive and Co-founder of Rain.

“In its earliest form, money moved instantly. We’ve spent centuries slowing it down. Rain is bringing that simplicity back to billions of people, but now it works across any border, any platform, and any currency.”

Rain is a Visa Principal Member and settles 100% of card payment volumes directly in stablecoins on Visa’s network.

Its platform is designed natively for stablecoins rather than being adapted from fiat systems, and it complies with enterprise standards such as PCI DSS, SOC 2, and audited smart contracts.

The funding will be used to further develop Rain’s platform and services, expand into new markets, and grow its engineering, commercial, and compliance teams.

Featured image credit: Edited by Fintech News America, based on image by Freepik