Rain Secures $250 Million Funding at $1.95 Billion Valuation

According to BlockBeats, on January 9, stablecoin company Rain announced it has completed a $250 million funding round, valuing the company at $1.95 billion. The round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. To date, Rain has raised over $338 million in total funding. The company assists clients in launching stablecoin cards on the Visa network. Rain plans to use the new capital to expand its presence in North America, South America, Europe, Asia, and Africa. Additionally, the funds will be used to help the company adapt to the rapidly changing global regulatory environment.