In brief
- Stablecoin fintech Rain has raised $58 million.
- The Visa-backed company, which issues cards, has raised a total of $88.5 million from big backers like Sapphire Ventures, Dragonfly, Galaxy Ventures, and Samsung Next.
- Stablecoins are a hot topic since President Donald Trump signed the GENIUS Act.
Stablecoin-backed card company Rain, which partnered with Visa this year, has raised $58 million as part of a series B funding round, the company said in an announcement Thursday.
The raise brings the company’s total funding to $88.5 million. Rain, which closed its A round five months ago, said the money would be used to grow the firm’s platform and “give global institutions the most flexible, modular, and compliant stablecoin infrastructure available.”
Venture capital firm Sapphire Ventures led the funding round, with Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, Lightspeed, and Norwest also contributing.
“Stablecoins are shifting to the backbone of global commerce,” Rain CEO and co-founder Farooq Malik said. “In its earliest form, money moved i
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Author: Mathew Di Salvo
