Fintech Rain has successfully raised $58 million in a Series B funding round, elevating its total funding to $88.5 million. The company, known for issuing cards backed by stablecoins, plans to expand its platform and enhance its stablecoin infrastructure to meet growing demand. Notable investors include Sapphire Ventures, Dragonfly, and Galaxy Ventures. Rain aims to make stablecoins readily usable for everyday transactions through its partnership with Visa, facilitating both physical and virtual card payments across over 150 countries. The company has reported a tenfold increase in transaction volume this year, partnering with firms such as Nuvei and Avalanche. Stablecoins have gained traction as they provide a stable alternative in the blockchain market, especially following regulatory developments like the GENIUS Act, which aims to streamline the issuance and trading of these digital currencies. The CEO highlighted the importance of making stablecoins more accessible for global commerce, reflecting the increasing acceptance of cryptocurrency in mainstream finance.

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