The bet is betting on Blockchain to reshape the gift cards industry, earns $ 63 million in financing

Written by Riley Kamener

Gift cards have always been an essential element in retail, but they were also stuck in the past. LiftThe company that spent more than a decade in updating the space, believes that it is time for a serious upgrade.

With a new $ 63 million financing round, led by Haun Ventures, the Miami -based company is committed to a tremendous commitment to fully bring gift cards to Blockchain.

Lifting is not a new player in this space. It was founded by the company, which was founded by the company more than $ 5 billion in transactions and building a network of about 7 million users. But now, Bousis and his team are betting that Blockchain technology will mainly change how consumers and companies use gift cards.

“We have invested tens of millions of dollars in bringing gift cards and loyalty programs in the series,” Bossi said in a statement. “Now, we are committed to the commitment of nine numbers over the next few years to completely achieve this vision.”

the goal? Convert gift cards into a programmable retail currency that enhances the deep participation of brands and their customers. Traditional gift cards have always been limited: they cannot be easily transferred, often vulnerable to fraud, and do not provide much flexibility. The Blockchain smart cards aim to change this, allowing retailers to create safer, customized and fraudulent loyalty programs.

Security is a major driver behind the Raise batch to Blockchain. The company has worked with the US Secret Service to address fraud in this industry, a problem that led to the losses of hundreds of millions of dollars annually due to the organized crime.

Busis noted that while exploring Blockchain and Crypto lifting for years, they have been waiting for the appropriate organizational environment and technical infrastructure to push forward.

“The barriers that were once exist are no longer obstacles,” he said. Over two and a half years last year, Rise has already invested $ 25 million of its own profits in developing its Blockchain platform.

The company’s vision attracted a full set of prominent investors, including Amper Group, BlackPine, Borderless Capital, GSR and Paper Ventures, along with a group of angels. This funding will expand smart cards and the retail coalition, a non -profit alliance for unifying global retailers on a more transparent and operating gift system.

According to Bousis, the company is now profitable, although it refused to say how much. Although Rise does not reveal retailers on board, Bousis claims to include Fortune 500 companies and some of the largest international brands.

Diogo Monica, the general partner of Haun Ventures, believes that Rise is in a unique position to take advantage of this opportunity. Monica commented, “Rise is the seizure of an old huge market with the correct mixture of experience, infrastructure and Blockchain’s experience.” “This is not just a bet on the future of gift cards-it is an investment in a proven team that solves a trillion dollar problem.”

The RISE model includes the use of stablecoins – cryptocurrencies associated with US dollar – to hold consumer money in the guarantee until the gift card is used, and then retail stores are paid through ACH or Stablecoin. Busis asserts that this approach will be ultimately uncomfortable through non -profit and encrypted currencies, making it cheaper and safer than traditional payment systems.

With global sales exceeding $ 2.3 trillion by 2030, gift cards became an essential part of the retail ecosystem. Rise places itself at the forefront of this shift, with the aim of updating the industry while giving brands and consumers more control of their loyalty programs.

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