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Stablecoin payment company Rain completes $250 million funding, valued at $1.95 billion
Deep Tide TechFlow News, January 09, according to Bloomberg, stablecoin payment company Rain announced the completion of a $250 million financing round, with the company’s valuation reaching $1.95 billion. This round of funding was led by ICONIQ, with participation from well-known institutions such as Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures.
Rain CEO Farooq Malik stated that the company will use the funds to expand its operations in North America, South America, Europe, Asia, and Africa, and to adapt to the constantly changing global regulatory environment. Currently, Rain offers stablecoin card services on the Visa network in over 150 countries, allowing users to spend stablecoins at local merchants and withdraw cash at ATMs.