Raenest enters US market with new stablecoin and stock investing products

On Thursday, Raenest, a Nigeria-based cross-border remittance company that offers multicurrency accounts for freelancers and businesses, unveiled four new products at its annual community event, Raenest Exchange. The new suite, which includes stock investing, stablecoin conversion, and faster payouts, marks the company’s entry into the US market.

“With this new launch, we have completed the ‘money loop,’ Victor Alade, the company’s CEO, told TechCabal. “Raenest has two core parts. We are connecting both money movement and saving and investing, enabling users to earn, move, and invest money seamlessly in one ecosystem.”

The loudest roar at the event came when Raenest demoed its new product that allows customers to buy shares in global companies from their Naira or USD accounts. The second loudest came from Raenest Fasstrack, which links directly to  Upwork accounts and shortens payout time for gig workers from days to within an hour.

Raenest also introduced a stablecoin product that automatically converts crypto to fiat, but is limited to USDC and USDT. While investors will welcome the company’s expansion into the US, which now allows users to send money to American accounts, the announcement landed with a more subdued reaction from the audience.

For a fintech like Raenest, which serves freelancers and remote workers, hosting a conference for its customers is not just altruistic, as it creates an organic stage for product marketing and community building. By inviting popular creators and their online communities eager to meet them offline, Raenest gets to market its products to a new audience. It also connects freelancers working in isolation, creating a network effect.

“We wanted to create a space where our customers could not only learn more about our products but also connect, share knowledge, and grow together,” Alade said. “We see ourselves as more than just a payments company; we want to be partners in their growth. When our customers earn more, we grow too.”

Over 1,500 people registered to attend, and at least five told TechCabal that they came either because an influencer was speaking or were invited by a Raenest customer.  For Raenest, both dynamics are the perfect growth loop.

“Being a purely online company, we felt the need to connect with people physically and show the human side of the brand,” Alade said.

Princess Eze, a jeweller who imports from China, downloaded the Raenest app at the event and told TechCabal that she’s considering switching to Raenest from PayPal and Zelle if the app offers better exchange rates and a better experience.

“It’s now a yearly event; we allocated a budget for it and even set up a dedicated community team to plan alongside our content team,” Alade said. “It’s now part of our offline engagement strategy.”

The conference format also gives Raenest direct user feedback, allowing the company to collect insights into freelancers’ pain points and product preferences. Piggyvest saw similar benefits from its “OpenHouse” forums, where users could share feedback and question the founders in real time. For Raenest, that dialogue helped shape its product roadmap and made customers feel seen and heard.

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