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Rain Raises $58 Million in Series B Funding to Expand Visa-Supported Crypto Cards

Rain Raises $58 Million in Series B Funding to Expand Visa-Supported Crypto Cards

Rain secures $58 million in Series B funding to scale its Visa-backed stablecoin payment cards, signaling continued growth in crypto payments as global transaction volume surges.

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Fact Check
All provided evidence consistently confirms that the company Rain raised $58 million in a Series B funding round. Multiple sources explicitly identify Rain as a Visa-supported or Visa-powered platform that issues stablecoin cards, with the stated purpose of the funding being expansion.
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Summary

Rain raised $58 million in Series B funding led by Sapphire Ventures, with contributions from Dragonfly, Galaxy Ventures, and others. The funds will be used to expand Rain's Visa-backed stablecoin payment platform, which has seen a tenfold increase in transaction volume, facilitating global crypto payments.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the U.S. dollar.
  • Visa-Supported Crypto Cards: Payment cards backed by Visa that allow users to make transactions with cryptocurrencies or stablecoins, offering a bridge between traditional finance and digital assets.