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Raenest, a global money management platform for people and businesses in emerging markets, has launched Stablecoin Vault, a new offering that allows eligible users to earn up to 7% variable annual percentage yield (APY) on USDC and USDT while managing their stablecoin and fiat balances from a single platform.
The launch comes as stablecoins gain wider use beyond cryptocurrency trading, particularly for cross-border payments, international money movement and holding dollar-denominated value across different financial systems.
“Stablecoins are becoming an important part of how people and businesses manage money across borders,” said Victor Alade, CEO and Co-founder of Raenest. “With Stablecoin Vault, we’re giving users more ways to put their balances to work, while continuing to build a platform that brings global money management into one place.”
Stablecoin Vault is available to eligible Raenest users across supported markets in Africa, Latin America and Asia. Eligible users can fund their Stablecoin Vault with USDC, USDT, USD, NGN, GBP, EUR, and other supported currencies. Where a fiat currency is used to fund the Vault, it is converted into the relevant stablecoin balance.
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Yield is calculated and paid daily and automatically reflected in the user’s balance. The Vault has no lock-up period, allowing users to add or withdraw funds at any time, 24/7, subject to applicable terms and conditions.
Note that: APY is variable and may change based on market conditions.
Managing stablecoins alongside fiat currencies
Stablecoin Vault builds on Raenest’s existing stablecoin offering, which allows users to receive, hold, transfer and convert USDC and USDT.
With Raenest, users can create dedicated wallet addresses for USDC and USDT, with each stablecoin maintained in its own balance and transaction history. Incoming stablecoins can therefore be received and held in their original form. Users can also convert between stablecoins and supported fiat currencies on the platform or transfer USDC and USDT to external wallet addresses across supported networks.
Stablecoin balances can also be used for everyday spending through the Raenest Card, allowing users to spend from their USDC and USDT balances alongside their USD, GBP, EUR and NGN balances.
The combination of these features means users can receive, hold, move, convert, spend and earn on their funds without having to move between separate platforms for stablecoin and fiat currency management.
The launch forms part of Raenest’s broader effort to expand the financial tools available to individuals and businesses managing money across borders, as stablecoins become increasingly integrated into global payments and money movement.
About Raenest
Raenest is a global financial platform that helps freelancers, remote workers, businesses, and individuals manage money across borders. Through Raenest, customers can open multicurrency accounts in USD, GBP, and EUR; hold USDC and USDT; send and receive international payments; access dollar cards; pay for services worldwide; and earn yield on their balances.
Raenest serves more than one million users across 50+ countries and has processed over $2 billion in transactions. The company is backed by leading investors including QED Investors, Norrsken22, Ventures Platform, P1 Ventures, and Seedstars.
For more information, visit www.raenest.com. Raenest is available on the iOS App Store and Google Play Store.
Disclaimer
Vault isn’t a bank account, so it isn’t covered by deposit insurance. Your funds are generally secure, but because Vault generates yield through DeFi protocols, returns can change with market conditions and are not guaranteed. In exceptional circumstances, the value of your assets could be affected.
