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Visa-linked stablecoin platform Rain raises $250 million in Series C funding

U.S. stablecoin infrastructure company Rain has completed a $250 million Series C funding round, Cointelegraph reported on Thursday. The round was led by global investment firm Iconiq, with existing investors including Galaxy Digital, Sapphire Ventures, Dragonfly, Lightspeed, Northwest and Endeavor Catalyst taking part. The funding values Rain at $1.95 billion and brings its total funding to $338 million. Rain offers a stablecoin card solution for global payments via the Visa network.