George Bousis, CEO of Raise, Web3 Gift Cards Industry, Spending to Earn, Raising an Additional $63M, and Customer Loyalty Programs | Ep. 419

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March 12, 2025 11:14 EDT

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George Bousis, Founder and CEO of Raise, joined the Cryptonews Spotlight Podcast to discuss the future of Web3-powered gift cards, spending-to-earn models, smart cards, and customer loyalty programs.

Under his leadership, Raise has processed over $5 billion in gift card transactions, saving customers more than $400 million. With a fresh $63 million funding round, Raise aims to revolutionize payments, loyalty, and retail with blockchain technology.

Raising $63M for the Future of Payments

“One, it further validates what we’re building and what we’re doing is real. And there are some really amazing and smart investors that we brought to the table.”

Raise recently secured $63 million in funding, led by Haun Ventures, Amber Group, Anagram, and Raj Gokal (co-founder of Solana). The capital will be used to expand Web3-powered payment solutions and integrate blockchain into everyday spending.

The Evolution of Gift Cards: Spending to Earn

“We’ve built a destination where your money is worth more everywhere you go. The more you spend, the more you save.”

Raise’s consumer app allows users to buy discounted gift cards and earn cashback, while its B2B platform powers loyalty and payment solutions for retailers and financial institutions.

Why Crypto Should Be Invisible to Users

“It doesn’t actually matter what blockchain we’re built on. It doesn’t matter what the infrastructure is. What matters is: Does it work?”

Bousis believes that for blockchain adoption to grow, users should not have to think about blockchains or gas fees. Instead, the focus should be on seamless user experiences that feel like traditional payment apps.

Enabling Crypto Payments in Everyday Retail

“Today on the app, you can use ETH, BTC, USDT, USDC, DOT, SOL, and several other currencies to buy gift cards and earn cashback.”

Raise has integrated crypto payments alongside traditional fiat, allowing users to spend digital assets at major retailers while merchants receive fiat settlements.

Raise for Business: The Next Generation of Loyalty Programs

“We now power BILT Rewards, Citibank, and several Web3 platforms. Our goal is to make loyalty points spendable in real-time, anywhere you go.”

Raise’s B2B platform is partnering with major brands to make loyalty programs more valuable and flexible.

Smart Cards: Blockchain-Powered, Fraud-Resistant Retail Currency

“The current system is broken. Retailers are paying up to 20% in fees on gift cards, and consumers bear the cost. We’re fixing that.”

Raise’s Smart Cards use blockchain technology to create secure, programmable gift cards, eliminating fraud and reducing fees for merchants.

How Smart Cards Will Transform Payments

“Imagine going to a hockey game. If the team wins, you get 30% off all team merchandise for the next week—automatically applied through Smart Cards.”

Smart Cards can be programmed with dynamic offers, time-based discounts, and fraud prevention mechanisms, making them more efficient and engaging than traditional gift cards.

The $3 Trillion Gift Card Market by 2030

“Gift cards are expected to hit $3 trillion by 2030. That’s a massive opportunity for disruption.”

Raise is positioning itself as the leader in blockchain-powered retail payments, targeting one of the fastest-growing segments in the global payments industry.

Tokenizing Loyalty Points for Real-World Spending

“We’re working with airlines and hotel programs to make loyalty points spendable at point-of-sale.”

Raise’s loyalty tokenization initiative will allow users to convert airline miles and loyalty points into spendable assets for everyday purchases.

The Future of Raise: International Expansion & Token Launch

“We’re launching in 30 new countries and moving towards launching our token later this year.”

Raise is expanding globally, making its gift card marketplace and loyalty infrastructure available worldwide, with a blockchain-powered token launch planned for late 2024.