Today in crypto: Rain, a US stablecoin infrastructure provider and a principal member of the Visa payment network, has raised $250 million in its latest funding round, Bloomberg estimated stablecoin payment inflows could rise to $56.6 trillion by 2030, and the Stand With Crypto advocacy group has prioritized backing a key US market structure bill in a highly contentious political year marked by midterm elections.
Visa-linked stablecoin platform Rain raises $250M
Rain, a US stablecoin infrastructure provider and a principal member of the Visa payment network, has secured major funding to expand its global presence.
The platform raised $250 million in a Series C funding round led by the global investment firm Iconiq, according to an announcement on Friday.
The round values Rain at $1.95 billion, bringing the company’s total funding to $338 million, following a $58 million Series B round in August 2025 and another $24.5 million raise in March last year.
The latest funding featured several existing investors, including the venture arm of Michael Novogratz-founded Galaxy Digital, Sapphire Ventures, Dragonfly, Lightspeed, Norwest and Endeavor Catalyst.
The new round follows notable growth at Rain last year, with its active card base rising 30-fold and annualized payment volume increasing 38 times, co-founder and CEO Farooq Malik said in the announcement.
“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” he added.
Additional investors in the funding included Bessemer Venture Partners and FirstMark, the announcement notes.
Stablecoin flows could touch $56T by 2030: Bloomberg
Stablecoin payment flows could tap $56.6 trillion by 2030, according to Bloomberg Intelligence, a rise that would make stablecoins one of the most important payment tools in global finance.
Stablecoin payment flows was $2.9 trillion in 2025. To hit $55.6 trillion would require a staggering 81% compounded annual growth rate over the next five years.
Bloomberg on Thursday said the figure would be driven by increasing institutional adoption and rising reliance on stablecoins in countries where people are seeking protection from inflation and economic instability.
Advocacy group targets market structure bill
As the US political calendar increasingly turns toward the 2026 midterm elections, Stand With Crypto says its top priority is helping push long-sought digital asset market structure legislation across the finish line.
In its year-in-review report, the Coinbase-backed advocacy group said it added roughly 675,000 new supporters nationwide, bringing its total membership to about 2.6 million. The group has positioned itself as one of the largest grassroots efforts focused on cryptocurrency policy in the United States.
Stand With Crypto said it plans to support pro-crypto candidates in congressional races during the midterms, but emphasized that its “primary goal” remains advancing comprehensive market structure legislation, specifically the Responsible Financial Innovation Act, which aims to clarify regulatory oversight of digital assets.
Such legislation could represent a significant milestone for the crypto industry, which has long pushed for clearer rules defining the roles of regulators such as the Securities and Exchange Commission and the Commodity Futures Trading Commission.
