USDRain Secures $250 Million Series C at $1.95 Billion Valuation as Stablecoin Payments Are Forecast to Reach $56 Trillion by 2030
Explosive Growth in Stablecoin Infrastructure Meets a Trillion-Dollar Payments Forecast
TL;DR
- Rain raised $250 million in a Series C round at a $1.95 billion valuation, reporting 30× growth in active cards and 38× growth in annualized payment volume.
- The company now processes more than $3 billion in annualized transactions and operates Visa-compatible stablecoin cards across 150+ countries.
- Bloomberg Intelligence projects stablecoin payment volumes could surge from $2.9 trillion in 2025 to $56.6 trillion by 2030, implying roughly 81% annual growth.
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Rain has closed a $250 million Series C funding round that values the stablecoin-powered payments company at $1.95 billion, marking one of the largest capital raises in the digital payments infrastructure sector so far in 2026. The round, announced on January 9, was led by ICONIQ Capital and joined by Sapphire Ventures, Dragonfly, Bessemer Venture Partners, Galaxy Ventures, FirstMark, Lightspeed, Norwest, and Endeavor Catalyst. With this raise, Rain’s total funding now exceeds $338 million, and its valuation represents more than a seventeenfold increase compared with levels reported roughly ten months ago, reflecting the pace at which institutional capital has moved toward stablecoin-based payment rails.
Rain’s leadership framed the funding as a response to accelerating real-world usage rather than speculative enthusiasm. Chief executive and co-founder Farooq Malik said stablecoins are rapidly becoming a core mechanism for modern payments, but widespread adoption depends on products that feel indistinguishable from traditional payment tools. That focus on usability is reflected in the company’s recent metrics. Over the past year, Rain reported a thirtyfold increase in its active card base and a thirty-eightfold jump in annualized payment volume, signaling that adoption has scaled alongside infrastructure. The platform now facilitates more than $3 billion in annualized transaction volume, underscoring that stablecoin payments are already moving substantial economic value rather than remaining confined to pilot programs.
The company operates a full-stack payments platform that allows enterprises to issue Visa-compatible cards funded by stablecoins, manage wallet infrastructure, convert between fiat and digital dollars, and run payouts and rewards through a single integration. Rain’s cards are accepted in more than 150 countries, and the company holds Visa Principal Member status, a credential that enables direct participation in global card networks. Its ecosystem includes more than 200 partners, with integrations spanning payments firms and financial infrastructure providers such as Western Union, Nuvei, and KAST. The Series C capital is expected to support geographic expansion across North America, South America, Europe, Asia, and Africa, alongside product development and potential acquisitions aimed at deepening Rain’s payments stack.
Investors backing the round emphasized the combination of regulatory readiness and scale as a key differentiator. ICONIQ Capital partner Kamran Zaki described Rain as one of the few platforms pairing full-stack technology with compliance capabilities that can support global enterprises at meaningful volume. Legal counsel for the financing was provided by Wachtell, Lipton, Rosen & Katz, a detail that reflects the institutional profile of the transaction. The speed of Rain’s fundraising cycle, moving through multiple rounds within a year, has become a signal of how quickly capital is consolidating around payment infrastructure that bridges stablecoins and traditional financial rails.
Rain’s growth story is unfolding against a broader macro backdrop that suggests stablecoin payments could expand far beyond current levels. Bloomberg Intelligence, in analysis cited on January 9, projects stablecoin payment volumes could reach approximately $56.6 trillion by 2030. That forecast compares with an estimated $2.9 trillion in stablecoin payment flows recorded in 2025, implying a compound annual growth rate of about 81% over the second half of the decade. Such a trajectory would position stablecoins among the most significant payment mechanisms globally, rivaling or exceeding volumes seen in many legacy systems.
Data cited in the Bloomberg analysis shows that total stablecoin transaction volume reached roughly $33 trillion in 2025, with the vast majority of activity concentrated in the two largest dollar-backed tokens. Tether remained dominant by market capitalization at $186.9 billion, while Circle’s USDC recorded an estimated $18.3 trillion in transaction volume during the year, surpassing USDT’s $13.3 trillion in on-chain activity, particularly within decentralized finance use cases. The overall stablecoin market was estimated at around $312 billion in total value, a figure expected to grow alongside clearer regulatory frameworks.
Regulation has emerged as a recurring theme in projections for stablecoin adoption. Bloomberg pointed to legislative developments such as the U.S. GENIUS Act, signed into law in July, as well as parallel regulatory efforts in the United Kingdom and Canada, as catalysts that could unlock broader institutional usage. These frameworks are designed to provide clarity around issuance, reserves, and compliance, addressing long-standing concerns that have limited enterprise participation. Legacy financial institutions are already testing these waters. Western Union, for example, has announced plans to roll out a stablecoin settlement system on Solana in early 2026, aiming to reduce costs and settlement times in cross-border remittances.
This article has been refined and enhanced by ChatGPT.
