#USA #New York #Rain #Payments #Stablecoins

Rain Raises $250 Million to Scale Stablecoin-Powered Payments Infrastructure for Global Enterprises

On January 9, 2026, Rain, a leading enterprise infrastructure provider, announced it has successfully closed a Series C funding round, raising $250 million. This financing, led by ICONIQ, has increased the total funding Rain has attracted to over $338 million and values the company at an impressive $1.95 billion. This growth marks a staggering increase of over 17 times in just 10 months, reflecting the rapid evolution of the stablecoin market.

The funds generated from this financing round will be pivotal in expanding Rain's global reach and improving the functionalities of its platform, as it seeks to redefine how global payments are conducted. Stablecoins have transitioned from speculative assets in the crypto markets to crucial instruments for value transfer worldwide. Rain’s goal is to facilitate the transition of tokenized money into the standard means by which businesses manage their financial transactions, and consumers receive payments, save, and spend.

Farooq Malik, CEO and co-founder of Rain, remarks, "Stablecoins are becoming the primary method of transferring money in the 21st century, yet their global adoption needs straightforward cards and applications. Last year, our active card base increased thirtyfold, with our annual payment volume surging by thirty-eight times. However, we recognize that this is just the beginning. This funding allows us to bring that infrastructure to new markets and enable other companies to implement and scale it effectively."

Rain’s all-encompassing payment platform allows businesses to partner with a single entity to launch compliant stablecoin cards that operate wherever Visa is accepted. It also features rewards programs, enables the conversion of fiat currency into stablecoins, supports secure wallets, and streamlines payments. Currently, Rain's technology facilitates over $3 billion in annual transactions for more than 200 partners, including well-known firms like Western Union, Nuvei, and KAST. Programs developed with Rain can reach an audience of over 2.5 billion people, supporting everything from everyday purchases, like morning coffee, to significant business expenses such as cloud services and digital advertising.

Kamran Zaki, a partner at ICONIQ, emphasizes the fundamental shift occurring within the payments landscape, stating, "We believe we are witnessing a transition from traditional payment networks to programmable digital asset infrastructure. The window to define the default platform trusted by businesses is narrow. We feel that Rain offers a remarkable blend of comprehensive technology, regulatory preparedness, and real scalability. Their focus is on democratizing tokenized money as opposed to being just a niche financial experiment, which aligns with what enterprise-level clients seek as they shift from exploration to production."

The capital from the Series C funding will enable Rain to enhance its presence in key licensed markets across North America, South America, Europe, Asia, and Africa, allowing partners to smoothly launch compliant solutions worldwide. It will also allow Rain to further develop its comprehensive stablecoin payment platform, potentially through strategic acquisitions, and invest in innovative products that render stablecoin transactions nearly invisible for both businesses and consumers.

Legal advisory for Rain during this Series C financing was provided by Wachtell, Lipton, Rosen & Katz.

About Rain

Rain is a global stablecoin payment platform serving enterprises, neobanks, platforms, and developers. It allows partners to transfer, store, and utilize stablecoins instantly and in compliance via global payment cards, rewards, access and exit platforms, and cross-border routes. As a Principal Member of Visa, Rain issues cards compatible with any platform where Visa is accepted, facilitating millions of purchases across 150 countries. Engineered from the ground up for stablecoins and supported by over 200 organizations worldwide, Rain provides a secure and scalable infrastructure for instant and free money transfer globally. For more information, visit Rain's website.

About ICONIQ

ICONIQ is a global investment firm that catalyzes opportunities through an extraordinary community. Our growth and venture investment platform collaborates with visionaries defining the future of their industries to achieve exceptional outcomes. Leveraging the expertise and connectivity of our unique community, we support the success of our portfolio companies at every stage, from inception through IPO and beyond. Our robust portfolio includes companies like Adyen, Airbnb, and Alibaba. For more information, visit ICONIQ’s website.