Naver makes first crypto investment in US payments firm Rain

Naver has invested in Rain, a U.S.-based virtual asset payment infrastructure company, according to a report by Hankyung. Naver's Silicon Valley investment arm, Naver Ventures, participated in Rain's recent $250 million Series C funding round. This marks the first time Naver Ventures has backed a virtual asset company, and the specific investment amount was not disclosed. The outlet noted that the investment is seen as a strategic move to expand the stablecoin payment business that Naver Financial plans to pursue globally after its merger with Dunamu.