Rain Raises $250M in Series C Funding, Firm Value Approaches $2 Billion:- 💥💥💥🔥🔥🚀
Rain, a firm specializing in infrastructure for stablecoins, has raised $250 million in Series C funding from ICONIQ, resulting in a valuation of $1.95 billion. The new funds will help the firm extend its stable coin services in North and South America, Europe, Asia, and Africa.
“Key Highlights:
- Total funding for Rain is now $338 million
- It will utilize the funds for obtaining operating licenses as well as entering new markets.
- Rain currently enables aharmony card programs and wallets for more than 200 partners and has more than $3 billion in annualized transactions.
Growth and Adoption:
* Active base of Rain’s cards has risen by 30x, with annualized payment volume up by 38x over the past year
- The firm is working on connections for US ACH and European SEPA payment systems via partner banks Stablecoin Market: - The total stablecoin supply currently exceeds $290 billion - Tether’s USDT token has a market dominance with a total supply of more than 186 billion USD, which constitutes around 64% of the market.
#rain #RAIN