Gift Card Leader Raise Brings Crypto Payments to Mainstream Retail

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Aug 15, 2024, 12:42 ET

The Over Six Million Raise App Users Can Now Shop Using Digital Currencies at Over One Million In-Store and Online Retailers

MIAMI, Aug. 15, 2024 /PRNewswire/ -- Raise, a leading payments provider and innovator in the global gift card industry, today announced the acceptance of crypto as a form of payment in the Raise App. In support of its mission to integrate cryptocurrency into everyday commerce through gift cards, over six million Raise App users can now shop using digital currencies at over one million in-store and online retailers.

Raise has partnered with Wallet Connect, a leading interoperability protocol that connects applications with crypto wallets to provide the widest integration support for this payment innovation. The in-app integration with Wallet Connect allows the Raise app to support a wide range of popular digital wallets, such as Coinbase, MetaMask, Phantom, and Trust. Initially, the Raise App will accept USDC, USDT, ETH, DOT, BTC, and SOL as payment for any gift card, with plans to expand to more tokens soon. This partnership simplifies transactions for crypto holders and expands the customer base for Raise's retail partners, all without altering the consumer experience or adding complexity for merchants.

"One of the ongoing challenges in the evolving cryptocurrency industry is making transactions between crypto holders and mainstream retailers simpler and more accessible," said George Bousis, CEO of Raise. "We are taking this challenge head-on. With the Raise App's new API, retailers and protocols won't need to work on one-off integrations, streamlining the transaction process while also providing crypto holders unprecedented flexibility in their spending. We're excited to see how it transforms the shopping experience."

Additionally, Raise plans to expand the Raise App and its crypto payment options to international markets, targeting over 30 countries by the end of the year. This strategic move enhances global accessibility and strengthens Raise's leadership in the digital payment sector, offering a broader reach and increased opportunities for users worldwide.

Jess Houlgrave, CEO of Wallet Connect commented: "A major usability roadblock for apps today is ensuring seamless user onboarding and providing comprehensive in-app services. WalletConnect's partnership with Raise addresses these UX challenges, making it easier for users to navigate the crypto ecosystem and utilize their digital assets in everyday transactions."

Raise continues to innovate and enhance the payment landscape, bridging the gap between cryptocurrency and mainstream retail. The company remains committed to making digital assets more applicable in everyday life, paving the way for a future where crypto payments are as common as traditional ones.

About Raise
Raise, a renowned pioneer in the gift card industry has been at the forefront of innovation since its inception in 2012. Over the years, the company has facilitated over $10 billion in transactions through its Raise consumer app, its exchange (now GCX), and B2B operations. With over 1,000+ brand partnerships, Raise offers activation and real-time redemption capabilities across a network of over one million stores, websites, and applications. For more information, please visit https://www.raise.com/.

About Wallet Connect
WalletConnect is the UX platform for the "new internet" enabling communication between wallets and apps across chains. Having been integrated by almost all web3 applications and wallets, it facilitates millions of end-user connections each month and gives users control over their assets and data while enabling builders to create seamless and secure experiences. It has raised $25 million from some of the world's leading tech and crypto investors, including Union Square Ventures, 1kx, Shopify, Coinbase Ventures, Circle Ventures, and Uniswap Labs Ventures. WalletConnect integrations currently span the Ethereum, Solana, NEAR, Cosmos, and other blockchains. For more information, please visit https://walletconnect.com.

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SOURCE Raise