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Sapphire Ventures leads funding as Rain expands enterprise stablecoin infrastructure for global payments
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Rain announced on Aug. 28 that it raised $58 million in a Series B round led by Sapphire Ventures, underscoring its ambition to become the leading enterprise-grade stablecoin platform.
The funding follows the company’s direct integration with Visa’s network. Rain became a Visa Principal Member in March 2025, a move that underpins its ability to directly issue cards on the Visa network.
The company positions itself as an API-first infrastructure provider, enabling fintechs, corporations, and financial institutions to build stablecoin-linked cards and settlement tools across multiple jurisdictions. Rain claims its platform can connect to more than 1.5 billion users through a single integration, making it one of the most broadly connected providers of stablecoin payments.
This raise adds to Rain’s active 2025 funding year. In March, the company secured $24.5 million in a round led by Norwest Venture Partners to expand its stablecoin-powered card issuing globally.
By combining blockchain-native settlement with traditional payment rails, Rain is pursuing a dual track that targets both enterprise infrastructure and consumer-facing use cases.
The timing coincides with expanding regulatory clarity around stablecoins, with Europe’s Markets in Crypto-Assets (MiCA) law now fully in effect and the U.S. GENIUS Act, signed in July 2025, entering its implementation phase.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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