Stablecoins Go Mainstream: Rain’s $58M Bet on the Future of Payments

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💸 Rain Secures $58M Series B as Stablecoins Storm the Enterprise World

In one of the biggest infrastructure-focused fintech rounds of the quarter, Rain, a platform powering stablecoin-based payments at scale, has raised $58 million in Series B funding. The round was led by Sapphire Ventures, with big-name participation from Dragonfly, Galaxy Ventures, Samsung Next, Norwest, Lightspeed, and others.

This brings Rain’s total funding to $88.5 million, marking rapid momentum following its Series A just five months ago.

🌍 A New Financial Backbone

Rain’s infrastructure enables fintechs, banks, and marketplaces to launch stablecoin-powered cards, wallets, and payment programs — all through a single API and in line with regulatory standards.

As CEO and co-founder Farooq Malik puts it:

With stablecoins gaining serious institutional attention thanks to clearer regulatory frameworks — including the GENIUS Act in the US and MiCA in Europe — Rain is well-positioned. Its vertically integrated stack supports everything from deposits and storage to cross-border payments and withdrawals.

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🌐 Massive Reach, Real-World Utility

Rain isn’t just building infrastructure — it’s scaling it. The platform already supports payments across 150+ countries, reaching over 1.5 billion people.

Key enterprise clients like Nuvei, Avalanche, Dakota, and Nomad are leveraging Rain for:

• Merchant payouts

• Cross-border payroll

• Consumer payments

• B2B spending

The company has seen transaction volume grow 10x since January 2025, a powerful signal of stablecoin traction across sectors.

Rain has also launched both physical and virtual Visa card programs, allowing users to spend stablecoins wherever Visa is accepted. As a Visa Principal Member, Rain settles 100% of card payment volume directly in stablecoins — a first in the industry.

And this isn’t a fiat system retrofitted for crypto. Rain’s infrastructure is built natively for stablecoins, aligned with strict enterprise-grade compliance (PCI DSS, SOC 2, audited smart contracts, etc.).

With the new capital, Rain plans to expand into Europe, MENA, APAC, and grow its engineering, commercial, and compliance teams.

📈 Snowflake Surges 19% on AI Tailwinds and Data Demand

While stablecoins steal one side of the fintech spotlight, AI-native data platforms are owning the other.

Shares of Snowflake jumped 19% on August 28, adding more than $12.5 billion to its market cap, now at $67 billion. The driver? Accelerating demand for AI-ready data infrastructure.

Snowflake’s cloud-native platform — which allows enterprises to store, manage, and analyze massive datasets across providers — has become a cornerstone for businesses modernizing their data stack for AI.

🚀 Investor Confidence Builds

The surge follows not just Snowflake’s robust product revenue outlook (now raised to $4.40B), but also a broader wave of AI optimism, buoyed by Nvidia’s bullish forecast earlier in the week.

Richard Clode, portfolio manager at Janus Henderson, summed it up:

Peer stocks MongoDB and Datadog rose as well (about 4.5%), with MongoDB also upping its revenue outlook.

Snowflake, which is now up 30% year-to-date, trades at 142.5x forward profit estimates, reflecting investor belief in its long-term upside — especially as AI-native competitors like Databricks (recently valued at over $100B) raise fresh capital.

🔮 Fintech Themes to Watch:

• Stablecoin infrastructure is no longer niche — Rain's raise shows it's becoming integral to global finance.

• Enterprise-grade compliance is key — Regulatory alignment is helping stablecoins scale across traditional financial rails.

• AI is redefining infrastructure spending — from data platforms to cloud-native analytics, there’s a rush to modernize.

• Investor appetite remains strong — both in crypto-infrastructure and AI-native platforms, the funding train hasn’t slowed.

👀 Final Take

Between Rain’s stablecoin revolution and Snowflake’s AI surge, one thing is clear: fintech is evolving fast — and it’s no longer just about flashy apps or neobank cards. It’s about infrastructure, compliance, cross-border capability, and AI-powered intelligence.

The future of finance is being built under the hood — and it’s scaling rapidly.