Agentic AI · The Block
Rain CEO confirms stablecoin payments reach more than 100,000 merchants without them knowing it
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Stablecoin payments facilitated by Rain are already reaching more than 100,000 merchants without them knowing it, according to CEO Farooq Malik, as stablecoins increasingly move through existing payment networks.
Key facts
- The company raised $250 million in a Series C round in January at a $1.95 billion valuation, bringing its total funding to $338 million
- Malik told The Block' s Kelvin Sparks at Wyoming Blockchain Symposium 2026 that such transactions made with stablecoins currently settle through Visa’s payment network in about three days
- The comments come as total stablecoin supply has grown to more than $290 billion, ’s data dashboard
- In May, Rain became a principal member of Mastercard, allowing it to offer stablecoin-powered credit and prepaid cards across more than 210 countries and regions
Summary
Malik told The Block' s Kelvin Sparks at Wyoming Blockchain Symposium 2026 that such transactions made with stablecoins currently settle through Visa’s payment network in about three days. The comments come as total stablecoin supply has grown to more than $290 billion, ’s data dashboard. Rain has expanded its payments infrastructure alongside that growth. In May, Rain became a principal member of Mastercard, allowing it to offer stablecoin-powered credit and prepaid cards across more than 210 countries and regions.