Stablecoin Company Rain Raises $250 Million at $1.95 Billion Valuation, Led by ICONIQ

Odaily News Stablecoin company Rain has announced the completion of a $250 million funding round at a valuation of $1.95 billion. The round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures, among others. To date, the company has raised over $338 million in total funding. Rain helps clients launch stablecoin cards on the Visa network. The company plans to use this capital to expand its footprint across North America, South America, Europe, Asia, and Africa. The funds will also be used to help adapt to the rapidly changing global regulatory landscape. (Bloomberg)