Raenest Launches Stablecoin Payments and Savings Products

Raenest, a Nigerian cross-border payments fintech, unveiled a suite of products on October 21 at Raenest Exchange, its annual community event in Lagos. The new offerings include stablecoin payments, cryptocurrency deposits, two virtual card options, and a physical card.

Additionally, Raenest introduced savings vaults that provide up to 7% annual interest on dollar and stablecoin balances and up to 16% on naira savings. This launch follows Raenest's expansion into the US market a year prior, where it introduced products for freelance payouts, stock investing, and stablecoin conversion.

The latest products aim to give users more control over their income management, allowing them to hold digital dollars and spend directly from their balances. Majemu Olowodola, Senior Product Manager at Raenest, emphasized the need for financial tools that align with the global opportunities available to users.

Raenest was founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha and operates in several African countries and beyond.