Rain has enabled stablecoin-funded payments at more than 100,000 merchants through its partnerships with Visa and Mastercard, although most merchants are unaware that the transactions originate from stablecoins. The payments currently settle through Visa in about three days, while Rain says merchants that choose direct stablecoin settlement could receive funds the same day. Rain completed a $250 million Series C funding round in January at a post-money valuation of $1.95 billion, and its annualized transaction volume exceeds $3 billion. The company also plans to explore regulated stablecoins for on-chain settlement in parts of its business.