Stablecoin Card Firm Rain Raise $58M from Samsung and Sapphire

Rain, a San Francisco-based fintech that issues Visa debit and credit cards powered by stablecoins, raised $58 million in Series B financing.

The company said the new capital will accelerate efforts to make stablecoins usable for everyday payments worldwide. Investors see the move as a sign of rising institutional confidence in blockchain-based payment systems.

Rain Drives Stablecoin Payment Demand

Rain announced that it raised $58 million and aims to bridge blockchain technology with global payment systems. The round included Samsung Next, Sapphire Ventures, Dragonfly, Galaxy Ventures, Lightspeed, Norwest, and Endeavor Catalyst.

Samsung Next, Samsung’s venture investment arm, focuses on emerging technologies and strategic startups. The raise came just five months after Rain closed a $24.5 million Series A, bringing its total funding to $88.5 million.

“Stablecoins have scaled to hundreds of billions in circulation, but until now, they couldn’t be easily spent,” said Jai Das, President and Partner at Sapphire Ventures and now a Rain board director. “Rain is fixing that by connecting stablecoins to Visa’s global network, turning them into money usable for everyday commerce.”

Rain provides infrastructure that enables fintechs, banks, and marketplaces to issue stablecoin-backed cards, wallets, and payment programs. Transaction volume has grown tenfold since January 2025, with millions of purchases processed in more than 150 countries.

“Stablecoins are shifting to the backbone of global commerce,” said Farooq Malik, Rain’s CEO and co-founder. “Money originally moved instantly. We spent centuries slowing it down. Rain is bringing that simplicity back across any border, platform, or currency.”

Stablecoins like Tether’s USDT, with $167 billion in circulation, and Circle’s USDC remain the largest tokens by supply. Analysts project the sector could reach trillions in market value within years.

Intensifying Battle in Digital Payments

Enterprise interest in stablecoins surged in 2025 after the GENIUS Act in the US and the European Union’s MiCA framework created more straightforward compliance guidelines. This regulatory certainty encouraged major banks, including Bank of America, to explore issuing their own stablecoins.

Rain is a direct beneficiary of this shift, offering partners a single integration that covers money-in, storage, spending, and payouts. As a Visa Principal Member, Rain directly settles all card payment volume in stablecoins on the Visa network. The platform is built natively for stablecoins and is not retrofitted from fiat rails, giving enterprises greater flexibility and compliance.

At the same time, Rain faces competition in digital payments. Crypto wallet provider MetaMask announced plans to launch the MetaMask Card by year-end, enabling users to pay with stablecoins at Mastercard-accepting merchants.