Rain CEO: Stablecoin payments have reached over 100,000 merchants, most of whom use it seamlessly

According to The Block, Rain CEO Farooq Malik stated that through partnerships with networks like Visa, the stablecoin payments facilitated by Rain have reached over 100,000 merchants, most of whom are unaware. Currently, transactions settled through the Visa network take about 3 days, but if merchants choose to settle directly using stablecoins, they can achieve same-day settlement.

Rain completed a $250 million Series C funding round in January, with a post-money valuation of $1.95 billion, an annual transaction volume exceeding $3 billion, and has partnered with Visa and Mastercard to launch stablecoin cards and wallets, planning to explore the use of regulated stablecoins for on-chain settlements in certain business processes.