Rain, a Visa debit and credit card startup, has Capital $58 million in a Series B round led by Sapphire Ventures, with participation from Samsung Next, Dragonfly, Galaxy Ventures, Endeavor Catalyst, Lightspeed, and Norwest. Rain previously raised $24.5 million in March, bringing its total Capital to date to $88.5 million.
Rain provides stablecoin payment infrastructure for businesses, targeting fintechs, banks, and marketplaces that want to issue stablecoin-based cards, wallets, and payment programs. The company said that demand has increased sharply after the US enacted the GENIUS Act and Europe implemented the MiCA framework, creating a clear legal corridor for stablecoins.
Stablecoins are expected to become the biggest growth area in crypto, potentially reaching trillions of dollars in size in the next few years. Even major US banks like Bank of America have expressed their intention to issue their own stablecoins, now that there is legal clarity under President Trump. Currently, Tether 's USDT is the largest stablecoin with over $167 billion in circulation, followed by Circle 's USDC .
Rain wants to be a leader in stablecoin payments, aiming to turn them into “everyday money.” Thanks to its connection to Visa’s global network, Rain cards are accepted everywhere Visa operates, and volume have increased tenfold since January alone.
Meanwhile, MetaMask is also trying its hand in this area, with plans to launch the MetaMask Card that enables payments at Mastercard-accepting locations later this year.
