Here is the rewritten content in well-organized HTML format with all tags properly closed:
Raise, a PayPal-Backed Company, Secures $63 Million to Transform the Payments and Loyalty Industry with Blockchain-Powered Gift Cards
Raise, a PayPal-backed company specializing in digital gift cards and loyalty programs, has raised a $63 million round led by Haun Ventures. The round brings Raise’s total funding to over $220 million.
Other participants included Amber Group, Anagram, and GSR, among others, according to a press release. The Chicago-based company is set to use the funds to develop its blockchain-backed Smart Cards and expand the Retail Alliance Foundation, a non-profit focused on securing and modernizing the global gift card network.
Aims to Make Gift Cards a “Fully Programmable Retail Currency”
The company aims to make gift cards a “fully programmable retail currency” that strengthens brand loyalty. “This isn’t a reaction to market trends — it’s the result of years of investment, research, and infrastructure-building to bring a fully on-chain, programmable retail currency to life,” the platform’s founder and CEO George Bousis told CoinDesk.
“The crypto industry needs real utility now more than ever. Investors are demanding substance over speculation, and consumers are tired of broken promises,” Bousis added.
“We’ve spent over a decade exploring how blockchain can drive real-world change in the multi-trillion-dollar gift card industry.”
New Board of Directors
Along with the funding round, the company announced a new board of directors featuring Marco Santori, former CLO of Kraken; George Ruan, co-founder of Honey; Matt Maloney, founder of GrubHub; and Bjorn Wagner, CEO of Parity Technologies. Their experience spans fintech, crypto, and e-commerce.
Conclusion
Raise’s latest funding round and the appointment of a new board of directors mark significant milestones in the company’s journey to transform the gift card industry. With a focus on blockchain technology and programmable retail currencies, Raise is poised to make a lasting impact on the way consumers interact with gift cards and loyalty programs.
FAQs
Q: What is Raise’s goal with its latest funding round?
A: Raise aims to develop its blockchain-backed Smart Cards and expand the Retail Alliance Foundation, a non-profit focused on securing and modernizing the global gift card network.
Q: What is the significance of the gift card industry?
A: The gift card industry is a multi-trillion-dollar market that has the potential to be transformed by blockchain technology and programmable retail currencies.
Q: Who are the key players in Raise’s new board of directors?
A: The new board of directors features Marco Santori, former CLO of Kraken; George Ruan, co-founder of Honey; Matt Maloney, founder of GrubHub; and Bjorn Wagner, CEO of Parity Technologies. Their experience spans fintech, crypto, and e-commerce.
