Stablecoin company Rain completes $250 million financing with a valuation of $1.95 billion, led by ICONIQ

According to Bloomberg, the stablecoin company Rain announced the completion of a $250 million financing round at a valuation of $1.95 billion, led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures.

To date, the company's total financing has exceeded $338 million. Rain helps clients launch stablecoin cards on the Visa network, and the company plans to use this capital to expand its presence in North America, South America, Europe, Asia, and Africa, as well as to adapt to the rapidly changing global regulatory environment.