Raenest, a Nigerian cross-border payments fintech, has launched a collection of merchandise that lets customers obtain, save, and spend cash throughout currencies from a single account, increasing its push to handle extra of the monetary lives of freelancers and companies incomes internationally.
Unveiled at Raenest Exchange, the corporate’s annual neighborhood occasion in Lagos on October 21, the merchandise embody stablecoin payments, cryptocurrency deposits, two new digital card choices, and a bodily card. Raenest can be introducing savings vaults providing up to 7% annual curiosity on greenback and stablecoin balances and up to 16% on naira savings.
The launch builds on Raenest’s expansion into the US market a 12 months in the past, when it launched merchandise for freelance payouts, inventory investing, and stablecoin conversion. The newest additions prolong that technique by giving customers extra methods to handle their earnings after it arrives, from holding digital {dollars} to spending immediately from their balances.
“Our opportunities have gotten global, but the way our money moves has not kept up as much,” Majemu Olowodola, Senior Product Manager at Raenest, stated throughout the product announcement. “So we started asking ourselves the question: What if your money could keep up with the life you’re building for yourself? That question is at the heart of Raenest Exchange this year for us.”
Founded in 2022 by Victor Alade, Richard Oyome, and Sodruldeen Mustapha, Raenest initially began as an Employer of Record (EOR), serving to international firms rent and pay African employees. It later pivoted to assist Africans obtain cash from worldwide purchasers and employers.
The firm at the moment provides multicurrency accounts that allow freelancers and companies obtain worldwide payments, convert currencies, ship cash, and handle world earnings. It operates in African markets together with Nigeria, Kenya, Ghana, Tanzania, and Uganda and has expanded into the US, India, and the Philippines.
Raenest’s newest launch pushes stablecoins additional into its ecosystem. In 2025, the corporate introduced stablecoin conversion, permitting customers to convert USDC and USDT, dollar-pegged digital currencies, into fiat currencies. With this 12 months’s launch, stablecoins can now be used earlier within the cost course of.
What’s new
According to the corporate, freelancers can create invoices and cost hyperlinks that allow purchasers select whether or not to pay by financial institution switch, card, or stablecoin. Once they obtain the cash, the recipient can hold the USDC or USDT or convert it into supported currencies, together with naira, {dollars}, kilos, and euros.
The firm will even let customers obtain Bitcoin, Solana, and Ethereum by way of Raenest and convert them into USDC. The prevailing market worth of the deposited asset on the level of execution will decide the asset’s conversion price.
“Because holding volatile assets like crypto and keeping your money stable are two different things,” Olowodola stated. “So with Raenest, we are introducing crypto deposits. So now you can receive supported cryptocurrencies like Bitcoin, Solana, and Ethereum via Raenest, and we automatically convert them to USDC for you.”
The firm additionally introduced Raenest Vaults, which is able to permit customers to save and earn curiosity. Users can create vaults in naira, {dollars}, USDC, or USDT, with the stablecoin and greenback vaults providing up to 7% yearly and the naira vault providing up to 16%. Raenest says customers can deposit and withdraw from the vaults at any time.
It can be 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, whereas the usual card is related to their current Raenest balances.
The commonplace card is designed to take away one other step for customers who already hold cash in numerous currencies, in accordance to the corporate. Rather than changing USDC into {dollars}, transferring the {dollars} to a separate card stability, and then making a purchase order, customers can spend immediately from their Raenest wallets.
Raenest can be including a bodily card for on-line and in-store purchases, POS payments, and ATM withdrawals. The firm stated customers can add the cardboard to Apple Wallet and Google Wallet and draw from their balances, together with USDT and USDC.
“We believe that every other thing that comes after getting paid should be a lot more seamless for you,” Olowodola stated. “So we’re building one app to help you receive your money, hold it, move it, spend it, and grow with it.”
There is a market behind Raenest’s ambition. Africa’s cross-border payments market was estimated at $329 billion in 2025 and is projected to attain $1 trillion by 2035, as companies and digital employees more and more earn and transact throughout borders. The creator economic system was estimated at $3 billion in 2025 and is projected to attain $17.8 billion by 2030.
Yet transferring that earnings stays costly, averaging 8.45% in Q1 2025 in Sub-Saharan Africa, in accordance to World Bank knowledge. That creates a possibility for Raenest to present extra worth with the cash that passes by way of its platform by providing customers extra methods to spend and save their earnings after they obtain it.
Raenest competes with fintechs comparable to Grey, LemFi, and Elevate Pay, which give African freelancers and digital employees entry to foreign-currency accounts. Grey already helps USDC and USDT deposits, USD, GBP, and EUR accounts, and a digital card. LemFi provides USD and GBP Global Accounts and has begun integrating stablecoins into its cross-border payments technique.
The stablecoin push comes as extra African fintechs construct merchandise round dollar-pegged digital currencies for cross-border payments. Flutterwave, the Africa-focused payments firm, launched stablecoin balances for customers in January by way of a partnership with Turnkey and, in June, partnered with Tempo, a payments-focused blockchain community, to develop stablecoin settlement infrastructure for its remittance product Send App and its enterprise payments platform, Flutterwave for Business.
Paga, a Nigerian fintech firm, additionally entered the stablecoins house in May by way of a partnership with Sui, a blockchain community, to develop infrastructure for stablecoin payments and tokenised belongings. Yellow Card has shifted its focus in direction of companies, offering stablecoin cost infrastructure, fiat settlement rails, custody, and native stablecoin issuance.
In February, Raenest launched its services in India and the Philippines, focusing on freelancers and digital professionals who earn from worldwide purchasers and platforms. The enlargement adopted Raenest’s $11 million Series A raise in February 2025, which the corporate stated would help its entry into new markets and the introduction of recent product options.
“Our approach is very simple. We believe that you don’t have to be a crypto expert,” Olowodola stated. “What’s most important to you is that you should be able to use your money.”
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