According to ChainCatcher, Bloomberg reported that stablecoin company Rain has completed a $250 million funding round at a valuation of $1.95 billion, led by ICONIQ with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. To date, the company has raised over $338 million in total funding. Rain helps clients launch stablecoin cards on the Visa network. The company plans to use the capital to expand its presence in North America, South America, Europe, Asia, and Africa, and also intends to use the funds to adapt to the rapidly evolving global regulatory environment.
Stablecoin Company Rain Raises $250M at $1.95B Valuation, Led by ICONIQ
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Summary
Stablecoin company Rain has closed a $250 million funding round at a $1.95 billion valuation, marking a major project funding update in the cryptocurrency sector. The round was led by ICONIQ, with participation from Sapphire Ventures, Dragonfly, Bessemer, Lightspeed, and Galaxy Ventures. The company has now raised over $338 million in total funding. Rain plans to expand across North America, South America, Europe, Asia, and Africa, while navigating the evolving global cryptocurrency regulatory landscape.
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