Rain, an enterprise infrastructure platform for stablecoin-powered payments, has raised $58 million in a Series B funding round led by Sapphire Ventures. The financing signals significant investor confidence in platforms that bridge traditional finance with digital assets, specifically for business-to-business (B2B) and enterprise use cases. Other notable investors participating in the round include Dragonfly, Galaxy, Samsung Next, Lightspeed Venture Partners, Norwest Venture Partners, and Endeavor Catalyst.

This move reflects a broader industry trend where venture capital is flowing into the essential infrastructure of the digital asset economy, such as payment rails and on/off-ramps, which are crucial for wider adoption. Rain partners with Visa to enable corporate clients to spend digital assets, focusing on real-world utility over speculative trading.

The investment in Rain underscores a strategic shift towards practical applications for stablecoins, particularly in global payments and corporate treasury functions.