Raenest Launches New Stablecoin And Stock Investing Merchandise

On Thursday, Raenest, a Nigeria-based cross-border remittance agency that provides multicurrency accounts for freelancers and corporations, unveiled 4 new merchandise at its annual group event, Raenest Change. The model new suite, which includes stock investing, stablecoin conversion, and sooner payouts, marks the company’s entry into the US market.

“With this new launch, we now have now completed the ‘money loop,’ Victor Alade, the company’s CEO, instructed TechCabal. “Raenest has two core components. We’re connecting every money movement and saving and investing, enabling prospects to earn, switch, and make investments money seamlessly in a single ecosystem.”

The loudest roar on the event obtained right here when Raenest demoed its new product that allows prospects to buy shares in worldwide companies from their Naira or USD accounts. The second loudest obtained right here from Raenest Fasstrack, which hyperlinks on to  Upwork accounts and shortens payout time for gig employees from days to inside an hour. 

Raenest moreover launched a stablecoin product that robotically converts crypto to fiat, nonetheless is proscribed to USDC and USDT. Whereas merchants will welcome the company’s progress into the US, which now permits prospects to ship money to American accounts, the announcement landed with a additional subdued response from the viewers.

For a fintech like Raenest, which serves freelancers and distant employees, web internet hosting a conference for its prospects isn’t solely altruistic, as a result of it creates an pure stage for product promoting and advertising and group establishing. By inviting frequent creators and their on-line communities eager to satisfy them offline, Raenest will get to market its merchandise to a model new viewers. It moreover connects freelancers working in isolation, making a neighborhood affect.

“We would have liked to create an space the place our prospects couldn’t solely be taught additional about our merchandise however moreover be part of, share data, and develop collectively,” Alade said. “We see ourselves as higher than solely a funds agency; we want to be companions of their progress. When our prospects earn additional, we develop too.”

Over 1,500 people registered to attend, and at least 5 instructed TechCabal that they obtained right here each on account of an influencer was speaking or had been invited by a Raenest purchaser.  For Raenest, every dynamics are the correct progress loop. 

“Being a purely on-line agency, we felt the need to affix with people bodily and current the human aspect of the mannequin,” Alade said. 

Princess Eze, a jeweller who imports from China, downloaded the Raenest app on the event and instructed TechCabal that she’s considering switching to Raenest from PayPal and Zelle if the app gives increased alternate fees and a higher experience. 

“It’s now a yearly event; we allotted a funds for it and even prepare a faithful group crew to plan alongside our content material materials crew,” Alade said. “It’s now part of our offline engagement approach.”

The conference format moreover gives Raenest direct shopper recommendations, allowing the company to collect insights into freelancers’ ache elements and product preferences. Piggyvest observed comparable benefits from its “OpenHouse” boards, the place prospects might share recommendations and question the founders in precise time. For Raenest, that dialogue helped type its product roadmap and made prospects actually really feel seen and heard.

Mark your calendars! Moonshot by TechCabal is once more in Lagos on October 15–16! Meet and be taught from Africa’s excessive founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Get your tickets now: moonshot.techcabal.com