Rain’s $250 Million Series C Propels Stablecoin Payments

Rain, a New York-based cryptocurrency card infrastructure platform, secured $250 million in Series C funding this January, reaching a nearly $20 billion valuation amid rising competition in stablecoin payments.

This investment underscores Rain’s rapid growth and highlights stablecoins’ potential dominance in retail transactions as traditional banking systems get circumvented.

Rain’s Strategic Moves Bolster Market Position

Rain recently closed a $250 million Series C funding round, enhancing its position in the cryptocurrency payments sector. The New York-based company, focusing on stablecoin card payments, has seen substantial growth in user engagement and transaction volume.

Rain, supported by ICONIQ’s investment, plans to further develop its payment infrastructure. Its valuation nears $20 billion, a testament to its rapid growth and the increasing adoption of stablecoin payments. As Farooq Malik, CEO and Co-founder of Rain, aptly put it, “Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work.”

Visa, controlling over 90% of on-chain card payments, continues to dominate the stablecoin payments zone. Emerging markets like Africa, Latin America, and South Asia drive this growth, showing higher demand compared to developed regions.

Visa and Rain Lead in Stablecoin Payment Innovation

Did you know? In 2025, Visa piloted native stablecoin settlement, a move that set the stage for its current market dominance, now surpassing 90% share in the on-chain card payment sector.

According to CoinMarketCap, USDC maintains a $1.00 price with a market cap of $74.84 billion, representing a 2.49% market dominance. Its circulating supply reaches 74.86 billion, despite a slight 0.01% 24-hour price increase. The 24-hour trading volume is noted at $18.69 billion.

The Coincu research team suggests that the growing adoption of stablecoin payments may lead to enhanced regulations and technological innovations in the financial sector. With Visa’s stronghold, new market players may need to adopt distinctive strategies to compete effectively.