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# Rain Obtains $24.5 Million Supported by Visa to Broaden Stablecoin Remittance Certificates
Rain, a worldwide certificate provider specializing in stablecoins, has effectively finalized a $24.5 million financing event headed by Norwest Venture Partners.
Current shareholders such as Lightspeed Venture Partners and Coinbase Ventures also took part, along with fresh supporters like Galaxy Ventures and Goldcrest.
This financing will permit Rain to improve its suitability with current economic systems, broaden its worldwide scope, and enhance its stablecoin permission and clearing infrastructure.
According to the business, Rain has undergone quick expansion, rising by 15x in the previous year and handling dealings in over 100 nations and regions.
## Visa’s Approval
Rain has also attained Visa principal membership, permitting it to provide certificates in Europe, Latin America, and the United States. Its vertically incorporated providing system enables it to handle certificate programs globally and clear dealings in stablecoins.
The platform permits enterprises to provide virtual and tangible certificates connected to various wallet kinds or traditional fiat currency accounts, with native clearing supported across numerous blockchain networks.
Norwest Venture Partners, a worldwide investment company with over $15.5 billion in capital, has a powerful history of supporting fintech innovation. Their portfolio includes investments in firms like Plaid, which streamlines economic data access between banks and consumers.
Parker Barrile, a partner at Norwest Venture Partners, emphasized Rain’s significance in the evolving economic landscape, stating that the company’s platform combines compliance with the flexibility of digital currencies, making it a pioneer in the growing adoption of stablecoins. Noteworthy Latin American Fintech Firm Nubank Commences Supplying Cardano and Algorand Functionalities
This investment phase confirms the growing interest of individuals in utilizing stablecoins for everyday monetary facilities. Furthermore, it underscores Rain’s substantial capacity in connecting conventional finance with the evolving realm of virtual currency.
