Today in crypto: BNY has introduced tokenized bank deposits for institutional clients, in a move to support collateral and margin requirements. Rain, a US stablecoin infrastructure provider and a principal member of the Visa payment network, has raised $250 million in its latest funding round. Meanwhile, Bloomberg estimated that stablecoin payment inflows could reach $56.6 trillion by 2030.
BNY launches tokenized deposits
Financial giant BNY has launched tokenized bank deposits for institutional clients, marking another step toward bringing traditional finance onchain.
The tokenized deposits — onchain representations of cash balances backed by claims on the bank — will be issued in-house on BNY’s permissioned blockchain network. The deposits are designed to support collateral and margin use cases.
“As global financial markets shift towards an always-on operating model, institutions are seeking faster and more efficient ways to move assets — with greater settlement certainty, transparency, lower friction and capability to unlock liquidity,” BNY said.
BNY has been active in the tokenization market. Its clients already have access to tokenized money market funds recorded on Goldman Sachs’ private blockchain network.
Visa-linked stablecoin platform Rain raises $250M
Rain, a US stablecoin infrastructure provider and a principal member of the Visa payment network, has secured major funding to expand its global presence.
The platform raised $250 million in a Series C funding round led by the global investment firm Iconiq, according to an announcement on Friday.
The round values Rain at $1.95 billion, bringing the company’s total funding to $338 million, following a $58 million Series B round in August 2025 and another $24.5 million raise in March last year.
The latest funding featured several existing investors, including the venture arm of Michael Novogratz-founded Galaxy Digital, Sapphire Ventures, Dragonfly, Lightspeed, Norwest and Endeavor Catalyst.
The new round follows notable growth at Rain last year, with its active card base rising 30-fold and annualized payment volume increasing 38 times, co-founder and CEO Farooq Malik said in the announcement.
“Stablecoins are quickly becoming the way money moves in the 21st century, but adoption by users worldwide requires cards and apps that just work,” he added.
Additional investors in the funding included Bessemer Venture Partners and FirstMark, the announcement notes.
Stablecoin flows could touch $56T by 2030: Bloomberg
Stablecoin payment flows could tap $56.6 trillion by 2030, according to Bloomberg Intelligence, a rise that would make stablecoins one of the most important payment tools in global finance.
Stablecoin payment flows was $2.9 trillion in 2025. To hit $55.6 trillion would require a staggering 81% compounded annual growth rate over the next five years.
Bloomberg on Thursday said the figure would be driven by increasing institutional adoption and rising reliance on stablecoins in countries where people are seeking protection from inflation and economic instability.
cointelegraph.com