24 Mar, 2025

Crypto Visa Card Startup Rain Raises $24.5 Million From Norwest, Galaxy and Coinbase Ventures

Quick Take• Crypto Visa debit and credit card issuer Rain has raised $24.5 million in a funding round led by Norwest Venture Partners.• The firm is focused on providing consumers with a way to spend stablecoins with limited friction.Crypto Visa Card Startup Rain Raises $24.5 Million From Norwest, Galaxy and Coinbase VenturesAmid a broader trend of web3 firms attempting to make it easier for people to spend their crypto on everyday services, Visa card issuer Rain said Monday it had raised in a funding round led by Norwest Venture Partners.Rain appears particularly interested in providing consumers with a way to spend stablecoins with limited friction, according to a social media post announcing the new funding. "As stablecoin adoption continues to grow — powering diverse use cases such as cross-border payments, remittances, and dollar-based savings — so too does the demand for frictionless spending of stablecoins in everyday transactions," the company said in its announcement. "Rain is prepared to meet that demand. After 15x revenue growth in just 12 months and payments now processed in 100+ countries."While stablecoin supply and transfer volumes continue to grow, that also appears to be a renewed push to make it easier for crypto holders to spend their digital assets easily on everyday goods and services. Last year, stablecoin transfers surpassed the combined transaction volume of Visa and Mastercard. Earlier this month, the crypto payment platform RedotPay raised $40 million. Also this month, Mesh, the developer of a web3 payments system that streamlines transactions involving crypto assets and merchants' settlement requirements, raised $82 million."Powered by our Visa Principal Membership and our unique blockchain infrastructure, we’re accelerating the global rollout of stablecoin-enabled card issuance, unlocking faster, more efficient payments," Rain said on Monday.Other investors in Rain's latest funding round included Galaxy Digital, CompoSecure, BDMI Fund, Coinbase Ventures, Lightspeed, Goldcrest, Thayer, and Hard Yaka.In 2022, Rain raised $6 million in seed funding.

19 Mar, 2025

Ripple Wins Landmark Case Against SEC, XRP Price Surges

Ripple Labs, the company behind XRP, scored a decisive victory yesterday when the U.S. Securities and Exchange Commission (SEC) unexpectedly dropped its longstanding lawsuit, marking a major turning point in the cryptocurrency industry's regulatory landscape.Since the lawsuit began in December 2020, the crypto market closely watched developments, viewing the SEC's case as a crucial test that could shape the future of cryptocurrency regulation in the United States. Initially, the SEC accused Ripple of conducting an unregistered securities offering worth approximately $1.3 billion through XRP sales, creating uncertainty that negatively impacted XRP’s market valuation and investor confidence.However, Ripple gained partial clarity in July 2023, when U.S. District Judge Analisa Torres differentiated between institutional XRP sales, considered securities, and programmatic sales via public exchanges, which she ruled did not constitute securities offerings. The SEC subsequently appealed, prolonging uncertainty until yesterday's decision to fully withdraw the case, effectively ending litigation against Ripple.The crypto market reacted immediately and positively to this significant regulatory shift. XRP, the digital token associated with Ripple, surged approximately 13.73%, reaching as high as $2.54 shortly after the announcement. This rapid price appreciation reflected renewed investor confidence, signaling that the resolution was largely perceived as a major step toward clarity and regulatory stability.Ripple CEO Brad Garlinghouse underscored the importance of the moment, stating clearly, "I'm finally able to announce that this case has ended—it's over," highlighting the company's newfound freedom to focus fully on strategic business initiatives without legal distractions.Beyond XRP, major cryptocurrencies including Bitcoin and Ethereum also benefited from the improved sentiment, with Bitcoin rising by 2.2% to around $84,096 and Ethereum up by approximately 6.6%, trading above $2,031. This broader market reaction indicates the case's significance was widely recognized, alleviating broader fears of overly restrictive regulatory oversight.Analysts and industry experts view this outcome as critical for cryptocurrency adoption in the United States, anticipating increased institutional investor interest and greater innovation across digital asset markets. The conclusion of the Ripple-SEC litigation has established a clearer precedent, suggesting digital assets sold on public exchanges might not automatically be considered securities—a viewpoint that could positively influence future regulatory frameworks.However, some analysts warn that despite this major victory, cryptocurrencies must now deliver practical utility and compliance assurances to sustain investor interest and regulatory confidence. The focus will shift toward long-term market sustainability, practical use cases, and ongoing dialogue between regulators and crypto industry participants.