Raenest expands beyond cross-border payments with stablecoins and savings
The products include stablecoin payments, cryptocurrency deposits, two new virtual card options, and a physical card.
Raenest, a Nigerian fintech company specializing in cross-border payments, has recently launched a range of new products to expand its offerings to freelancers and businesses. At Raenest Exchange, the company's annual community event held in Lagos on October 21, Raenest unveiled stablecoin payments, cryptocurrency deposits, multiple virtual card options, physical cards, and savings vaults.
The stablecoin payments and cryptocurrency deposits feature allow users to receive, save, and spend money across different currencies from a single account. The savings vaults offer interest rates ranging from 7% annually for dollar and stablecoin balances to 16% for naira balances. Additionally, the company introduced two new virtual card variants, a prepaid card and a standard card, along with a physical card for online and in-store purchases, POS payments, and ATM withdrawals.
Raenest's founder and Senior Product Manager, Majemu Olowodola, emphasized the importance of providing a seamless experience for users by managing their money from the moment they receive it. The company's new products are designed to cater to the growing need for seamless financial management in Africa's cross-border payments market, which is expected to reach $1 trillion by 2035.
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