​Visa-backed Rain raises $24.5m to expand stablecoin payment cards

Rain, a global card emission platform that uses Stablecoins, has obtained $ 24.5 million in funding led by Norwest Venture Partners.

The other participants include Galaxy Ventures, Goldcrest, Thayer and Hard Yaka, alongside existing investors such as Lightspeed Venture Partners, Coinbase Ventures, Vinyl Capital, Canonical Crypto and Capital Latitude. ​

This investment will allow the rain of Improve interoperability With existing financial systems, widen its global presence and advance stable Authorization and settlement infrastructure.

The company has experienced significant growth, with an increase of 15 times in the past year and processing transactions in more than 100 countries, according to a company release.

Visa support

The rain has also reached main membership with VisaFacilitating the emission of cards across Europe, the United States and Latin America. Its vertically integrated emission battery allows the operation of card programs worldwide, by adjusting transactions in Stablecoins.

The platform allows companies to issue physical and virtual cards linked to various types of portfolios or traditional Fiat accounts, with support for native regulations on several blockchain networks.

Norwest Venture Partners, a global investment company with more than $ 15.5 billion in capital, has a history of support for fintech innovations. Their portfolio includes investments in companies such as plaid, which rations access to financial data between banks and consumers.

Parker Barrile, partner of Norwest Venture Partners, stressed the importance of Rain in the evolution of the financial landscape. He noted that the company’s platform merges respect for the flexibility of digital currency, positioning it as a leader in the growing adoption of Stablecoins.

This funding underlines the growing interest in the integration of stablecoins in traditional financial services, highlighting the potential of Rain to fill traditional finance with the expanding digital currency ecosystem.