How Rain Grew To A $2B Company | Charles Yoo-Naut
Episode publishedPodcast: EmpireEmpire
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I I was looking on Twitter, someone said, like, 1% of US dollars are, like, now stablecoins. So that's, like, still, like, a 100 x growth is still possible from from where we are now. And I would say there's probably in terms of actual users, even more, probably a 10,000 x growth that Yeah. Is gonna come from here. So more and more of the financial system is gonna become tokenized. That's, like, inevitable to to Farooq and I, and we're just here to to help empower that.
Nothing said on Empire is a recommendation to buy or sell any investments or products. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks. Our hosts, guests, and the Blockworks team may hold positions in the companies, funds, or projects discussed. Alright, everyone. Welcome back to Empire. Really excited about this one. We've got Charles Unout, who's one of the cofounders, CTO of RAIN. You've probably heard about RAIN indirectly. Rob has been mentioning them a lot
Yeah. Thank you for having me.
Yeah. Very excited. Okay. I think my my first one, and I don't mean this in an offensive way at all. Yeah. You know, you raised 250,000,000 at a $1,950,000,000 valuation. And, like, the headline for RAIN is, like, stablecoin cards. Why is that a thing to go raise? Why is that such a big you know, why is that a $2,000,000,000 company? Why why do you have to raise $250,000,000 for that?
Yeah. I mean, if you think about RAIN broadly, what we're building is stablecoin infrastructure to allow any company to allow stablecoin, embed stablecoin based financial products inside of their application. So we partner and power over 200 consumers right now. So we power EtherFi cards, Cast, Avalanche. We announced the Western Union partnership. And Sablecoin backed cards is probably one of our most popular products. But globally, we're seeing this transition where more volume is moving to stablecoin and and digital assets and and tokenized money broadly. And it's really about the infrastru
Nice. So it's b two b?
Yeah. Okay. B two b two c, b two b two b. So we're empowering other customers to empower their end users.
Yeah. Okay. Who how did you guys go about getting well, maybe I wanna hear about the founding story a little bit. I think I had heard that you went through on deck. I know Eric Thornburg very well. Yeah. So yeah.
Yeah. So I was on deck 7. Faruk was on deck 2. We met,
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