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About Rain
Rain is a stablecoin-powered card issuing and payments platform. Through a unified API, Rain brings together wallets, cards, and global money movement to help enterprises launch compliant card programs and modernize settlement infrastructure.
Rain settles card transactions daily onchain and supports programs across the US, LATAM, APAC, EU, and EMEA. The platform is trusted by hundreds of partners globally to move billions in transaction volume annually.
In January 2026, Rain announced its $250 million Series C at a $1.95 billion valuation to scale stablecoin-powered payments infrastructure for global enterprises, bringing total capital raised to more than $338 million.
Company overview
Founded
2021
Offices
New York City, Washington, D.C., Puerto Rico
Total capital raised
$338M+
Partners
200
Primary offering
Stablecoin-powered card issuing, wallets, and global payments infrastructure through one unified API.
Key milestones
2021
Rain founded to modernize global payment infrastructure using stablecoins.
2022
Launched stablecoin-backed corporate spend cards.
2024
Became a Visa Principal Member, enabling direct issuing and daily onchain settlement.
Launched API-first issuing platform for branded card programs.
2025
Expanded to a full-stack platform spanning onramps, wallets, cards, rewards, and global payments.
2026
Raised $250M Series C to scale global stablecoin-powered payment infrastructure to APAC and beyond.
Rain has raised more than $338 million in funding from leading global investors, including:
Rain’s co-founders
Farooq Malik
Co-Founder & Chief Executive Officer
Farooq Malik is the Co-founder and CEO of Rain. Rain is a Visa Member and the leading stablecoin-powered card issuer and payments platform trusted by hundreds of partners globally. Prior to founding Rain, Farooq worked in finance and international development. Those experiences directly inform Rain’s mission to transform how money moves globally by rebuilding the underlying financial infrastructure.
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Charles Yoo-Naut
Co-Founder & Chief Technology Officer
Charles Yoo-Naut is the Co-Founder and CTO of Rain, the stablecoin-based card issuing and payments platform powering millions of transactions across 150+ countries. Before founding Rain, Charles started PlaybookHR, which was acquired by Intuit. At Intuit, he served as a principal engineer and tech lead on the QuickBooks team. Charles holds a B.S. in Computer Science from Stanford University.
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