According to Mars Finance, on August 28, the crypto card issuer Rain completed a $58 million Series B funding round, led by Sapphire Ventures, with participation from Dragonfly, Galaxy Ventures, Endeavor Catalyst, Samsung Next, and Lightspeed. According to another informed source, the annual spending on Rain-supported bank cards has exceeded $1 billion. Rain has launched Visa-supported bank cards, allowing stablecoins to be spent at all locations that accept Visa. The company was founded in 2021 by CEO Farooq Malik and CTO Charles Yoo-Naut. Rain enables new banks and fintech companies (such as Nuvei) to offer stablecoin payment services. Previously reported, on March 24, Rain announced it had completed a $24.5 million funding round, led by Norwest Venture Partners, with participation from Galaxy Ventures, Goldcrest, Thayer, and Hard Yaka.