Raenest, a Nigerian cross-border funds fintech, has introduced a set of goods that we could customers obtain, save, and spend cash throughout currencies from a unmarried account, increasing its push to control extra of the monetary lives of freelancers and companies incomes across the world.
Unveiled at Raenest Alternate, the corporate’s annual group match in Lagos on October 21, the goods come with stablecoin funds, cryptocurrency deposits, two new digital card choices, and a bodily card. Raenest may be introducing financial savings vaults providing as much as 7% annual passion on greenback and stablecoin balances and as much as 16% on naira financial savings.
The release builds on Raenest’s expansion into the US market a 12 months in the past, when it presented merchandise for freelance payouts, inventory making an investment, and stablecoin conversion. The most recent additions prolong that technique through giving customers extra tactics to control their source of revenue after it arrives, from retaining virtual bucks to spending without delay from their balances.
“Our alternatives have got world, however the best way our cash strikes has no longer saved up as a lot,” Majemu Olowodola, Senior Product Supervisor at Raenest, stated right through the product announcement. “So we began asking ourselves the query: What in case your cash may just stay alongside of the existence you’re development for your self? That query is on the middle of Raenest Alternate this 12 months for us.”
Based in 2022 through Victor Alade, Richard Oyome, and Sodruldeen Mustapha, Raenest to start with began as an Employer of Document (EOR), serving to overseas corporations rent and pay African employees. It later pivoted to lend a hand Africans obtain cash from world purchasers and employers.
The corporate recently provides multicurrency accounts that allow freelancers and companies obtain world funds, convert currencies, ship cash, and set up world source of revenue. It operates in African markets together with Nigeria, Kenya, Ghana, Tanzania, and Uganda and has expanded into the USA, India, and the Philippines.
Raenest’s newest release pushes stablecoins additional into its ecosystem. In 2025, the corporate introduced stablecoin conversion, permitting customers to transform USDC and USDT, dollar-pegged virtual currencies, into fiat currencies. With this 12 months’s release, stablecoins can now be used previous within the cost procedure.
What’s new
In step with the corporate, freelancers can create invoices and cost hyperlinks that allow purchasers select whether or not to pay through financial institution switch, card, or stablecoin. When they obtain the cash, the recipient can stay the USDC or USDT or convert it into supported currencies, together with naira, bucks, kilos, and euros.
The corporate can even let customers obtain Bitcoin, Solana, and Ethereum thru Raenest and convert them into USDC. The existing marketplace worth of the deposited asset on the level of execution will decide the asset’s conversion fee.
“As a result of retaining unstable belongings like crypto and preserving your cash strong are two various things,” Olowodola stated. “So with Raenest, we’re introducing crypto deposits. So now you’ll be able to obtain supported cryptocurrencies like Bitcoin, Solana, and Ethereum by means of Raenest, and we routinely convert them to USDC for you.”
The corporate additionally introduced Raenest Vaults, which is able to permit customers to save lots of and earn passion. Customers can create vaults in naira, bucks, USDC, or USDT, with the stablecoin and greenback vaults providing as much as 7% once a year and the naira vault providing as much as 16%. Raenest says customers can deposit and withdraw from the vaults at any time.
Additionally it is introducing two new digital card variants, together with a pay as you go card and an ordinary card. The pay as you go card has its personal separate stability that customers can fund particularly for spending, whilst the usual card is hooked up to their current Raenest balances.
The usual card is designed to take away any other step for customers who already stay cash in several currencies, in step with the corporate. Slightly than changing USDC into bucks, transferring the bucks to a separate card stability, after which making a purchase order, customers can spend without delay from their Raenest wallets.
Raenest may be including a bodily card for on-line and in-store purchases, POS funds, and ATM withdrawals. The corporate stated customers can upload the cardboard to Apple Pockets and Google Pockets and draw from their balances, together with USDT and USDC.
“We consider that each and every thing more that comes upon getting paid will have to be much more seamless for you,” Olowodola stated. “So we’re development one app that will help you obtain your cash, cling it, transfer it, spend it, and develop with it.”
There’s a marketplace in the back of Raenest’s ambition. Africa’s cross-border funds marketplace was once estimated at $329 billion in 2025 and is projected to achieve $1 trillion through 2035, as companies and virtual employees increasingly more earn and transact throughout borders. The writer economic system was once estimated at $3 billion in 2025 and is projected to achieve $17.8 billion through 2030.
But transferring that source of revenue stays dear, averaging 8.45% in Q1 2025 in Sub-Saharan Africa, in step with Global Financial institution information. That creates a possibility for Raenest to supply extra worth with the cash that passes thru its platform through providing customers extra tactics to spend and save their source of revenue when they obtain it.
Raenest competes with fintechs akin to Gray, LemFi, and Raise Pay, which provide African freelancers and virtual employees get right of entry to to foreign-currency accounts. Gray already helps USDC and USDT deposits, USD, GBP, and EUR accounts, and a digital card. LemFi provides USD and GBP World Accounts and has begun integrating stablecoins into its cross-border funds technique.
The stablecoin push comes as extra African fintechs construct merchandise round dollar-pegged virtual currencies for cross-border funds. Flutterwave, the Africa-focused funds corporate, presented stablecoin balances for customers in January thru a partnership with Turnkey and, in June, partnered with Tempo, a payments-focused blockchain community, to increase stablecoin agreement infrastructure for its remittance product Ship App and its undertaking funds platform, Flutterwave for Trade.
Paga, a Nigerian fintech corporate, additionally entered the stablecoins area in Would possibly thru a partnership with Sui, a blockchain community, to increase infrastructure for stablecoin funds and tokenised belongings. Yellow Card has shifted its focus against companies, offering stablecoin cost infrastructure, fiat agreement rails, custody, and native stablecoin issuance.
In February, Raenest launched its services in India and the Philippines, concentrated on freelancers and virtual pros who earn from world purchasers and platforms. The growth adopted Raenest’s $11 million Series A raise in February 2025, which the corporate stated would enhance its access into new markets and the advent of latest product options.
“Our means may be very easy. We consider that you simply don’t must be a crypto knowledgeable,” Olowodola stated. “What’s maximum essential to you is that you simply will have to be capable to use your cash.”
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