Stablecoin payment startup Rain attracts 360 billion in investment... Accelerating global payment innovation

Fintech startup Rain has officially launched its stablecoin-based payment market expansion following a successful large-scale funding round. On the 9th (local time), Rain announced it had raised $250 million (approximately 3.6 trillion KRW) in a Series C funding led by Iconiq Capital. This funding round boosted Rain’s corporate valuation to approximately $1.95 billion (about 2.8 trillion KRW).

According to the company, this funding is based on its performance over the past year, during which its annual payment processing volume increased 30-fold. Currently, Rain processes transactions worth about $3 billion (approximately 4.3 trillion KRW) annually, with the number of clients exceeding 200.

Rain’s core business is helping enterprise clients issue stablecoin-based payment card platforms to their users. Unlike existing credit cards, transactions can be completed within seconds and feature the ability to expand various functions through plugins. For example, online banks or sports teams can use these cards to operate their own reward programs or related promotional activities, enabling quantitative analysis of customer loyalty and sales contribution.

This expansion strategy has been concretized over the past six months through a series of acquisitions. In November last year, Rain acquired Uptop, a company with customer reward technology, and subsequently brought cryptocurrency infrastructure startup Fern under its wing. Fern is a platform that offers cross-border cryptocurrency remittances, digital wallet creation, and compliance monitoring within a single API, allowing developers to commercialize within a week.

Rain plans to use the newly acquired funds to continue additional mergers and product expansions. Specific goals include deepening stablecoin functionalities, launching new financial products, and obtaining regulatory licenses in multiple regions. Its strategy is to solidify its position as the standard stablecoin payment infrastructure for global enterprises.

Stablecoins are pegged 1:1 to fiat currencies, have low volatility, and enable fast cross-border payments, which has recently attracted the attention of global companies. Rain’s rapid growth and large-scale funding are interpreted as evidence that this trend is entering the stage of practical commercial service.