Nigeria-based fintech Raenest – known for cross-border remittances and multi-currency accounts for freelancers and businesses – unveiled a suite of new offerings as it enters the U.S., with its stablecoin product being one of its key products.
At its annual community event, Raenest introduced four new services:
Stock investing
Stablecoin conversion
Faster payouts, and
Expanded U.S. money transfers.
Stablecoin Conversion: Bridging Crypto to Fiat Seamlessly
Raenest’s stablecoin product enables users to automatically convert crypto into fiat currency, specifically supporting USDC and USDT.
This gives users a smoother on-ramp/off-ramp experience: instead of holding crypto directly, they can rely on stablecoins pegged to the U.S. dollar, minimizing volatility exposure while unlocking liquidity.
For many of Raenest’s target users – freelancers, remote workers, and gig economy participants – this means they can receive crypto payments and quickly convert into fiat for everyday use, all within the same ecosystem. The stablecoin acts as a bridge between the crypto and traditional finance legs of Raenest’s ‘money loop.’
While the new stock investing and faster payouts features drew attention, the stablecoin reveal arguably underscores Raenest’s ambitions to straddle both crypto and fiat realms in the U.S. market. The inclusion of U.S.-centric stablecoins suggests a bid to appeal to crypto-savvy users, as well as to integrate into U.S. financial rails.
By supporting USDC and USDT, Raenest is aligning with the two most widely used dollar-pegged stablecoins – thereby minimizing friction for users already operating in those tokens. The move also opens potential synergies with U.S. crypto infrastructure, exchanges, and on-chain liquidity pools.
Implications & Challenges
User adoption: Users already transacting in crypto might prefer the stability of USDC/USDT, making Raenest’s hybrid fiat/crypto model more compelling.
Regulation risk: Stablecoins are under increasing regulatory scrutiny, especially in the U.S. Raenest will need to navigate compliance, transparency, and reserve backing for its stablecoin offerings.
Liquidity & custody: To reliably convert between stablecoins and fiat, Raenest must maintain robust liquidity, custody, and exchange partnerships. Any failure could harm user confidence.
Competition: Many crypto-native platforms already provide fiat-stablecoin rails; Raenest will be judged by how cleanly it integrates this into its broader fintech stack.
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STABLECOINS | Nigerian Fintech, Raenest, Launches a Stablecoin Product Limited to USDT and USDC
Nigeria-based fintech Raenest – known for cross-border remittances and multi-currency accounts for freelancers and businesses – unveiled a suite of new offerings as it enters the U.S., with its stablecoin product being one of its key products.
At its annual community event, Raenest introduced four new services:
Stablecoin Conversion: Bridging Crypto to Fiat Seamlessly
Raenest’s stablecoin product enables users to automatically convert crypto into fiat currency, specifically supporting USDC and USDT.
This gives users a smoother on-ramp/off-ramp experience: instead of holding crypto directly, they can rely on stablecoins pegged to the U.S. dollar, minimizing volatility exposure while unlocking liquidity.
For many of Raenest’s target users – freelancers, remote workers, and gig economy participants – this means they can receive crypto payments and quickly convert into fiat for everyday use, all within the same ecosystem. The stablecoin acts as a bridge between the crypto and traditional finance legs of Raenest’s ‘money loop.’
While the new stock investing and faster payouts features drew attention, the stablecoin reveal arguably underscores Raenest’s ambitions to straddle both crypto and fiat realms in the U.S. market. The inclusion of U.S.-centric stablecoins suggests a bid to appeal to crypto-savvy users, as well as to integrate into U.S. financial rails.
By supporting USDC and USDT, Raenest is aligning with the two most widely used dollar-pegged stablecoins – thereby minimizing friction for users already operating in those tokens. The move also opens potential synergies with U.S. crypto infrastructure, exchanges, and on-chain liquidity pools.
Implications & Challenges
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