Two weeks ago, Embr Labs proudly joined the Glo Consortium, embarking on a journey to embed philanthropy into our core business operations. This exciting move represents a commitment to intertwining cutting-edge payment technology with meaningful social impact. Today, we’re excited to announce a new stage to this journey: our collaboration with Glo and Rain. This alliance is a testament to our shared vision of creating a more equitable and inclusive financial system.

Rain: Bridging Web3 and Fiat Ecosystems

Rain is revolutionizing spend management for Web3 teams. Designed exclusively for the digital asset ecosystem, Rain enables seamless interoperability between digital assets and the fiat systems crucial for everyday operations. Whether it’s self-custody, institutional custody, or anything in between, Rain caters to all needs, ensuring operational efficiency in both on-chain and off-chain environments.

Web3 teams often face challenges accessing traditional banking services, with many common business expenses still requiring fiat currency. Rain’s spend management platform excels in this area, providing instant, fee-free options to access fiat from crypto, removing the barriers to essential services, and minimizing regulatory risks associated with crypto transactions. Through Rain’s platform, web3 teams can post collateral in stablecoin and Rain will credit them in fiat to gain access to fiat without the usual downsides associated with off-ramping massive amounts of crypto for Web3 business operations.

“By adding USDGLO, we wanted to allow teams to embed corporate social responsibility in their operations while maintaining the ability to transact across their day to day operations.”

-Farooq Malik, Rain Founder & CEO

Glo Foundation and USDGLO: Fueling Philanthropy with Stablecoin

The Glo Foundation’s USDGLO stablecoin is an exciting venture blending philanthropy with cryptocurrency. Each USDGLO in circulation generates funds to combat extreme poverty, making every use of this stablecoin a step towards a better world. The adoption of USDGLO directly correlates with the revenue generated for these philanthropic efforts.

Our collaboration brings a new perspective to this model. Imagine Web3 teams using USDGLO instead of traditional stablecoins like USDC for collateral on Rain’s platform. Well, we pitched this idea to Rain. And now, Rain’s clients can post collateral in USDGLO to access fiat, and in choosing USDGLO as collateral, teams can assist the fight against extreme poverty by simply choosing USDGLO as collateral over USDC. This collaboration empowers teams to manage their finances efficiently and aligns them with a noble cause that transcends business — the fight against extreme poverty.

We’re really proud to have Embr in the Glo Consortium. They’ve been invaluable to helping us grow adoption… from powering the infrastructure behind the Unlimit USDGLO on/off ramp to making the connection to the Rain team and following through with holding USDGLO to power their corporate credit cards. Theirs is a team of optimists, believing in the potential for crypto to create meaningful positive change.

-Marcia Blacken, Glo Head of Operations

A Win-Win Scenario: Impacting Technology, Finance, and Society

This collaboration creates a unique win-win scenario. For Glo, it means increased adoption and volume of USDGLO, generating more revenue for philanthropic efforts. For Web3 teams, it’s an opportunity to incorporate corporate social responsibility into their financial operations effortlessly, reaping the benefits of positive public relations and societal impact. For Rain, this addition of accepting USDGLO as collateral offers a low-hanging fruit for other teams in Web3 to join the noble effort the Glo Foundation leads.

The Future is Bright: Join Us on This Journey

As we embark on this journey, our optimism knows no bounds. We are pioneering a movement where technology and philanthropy converge to create a more equitable and inclusive financial ecosystem. This collaboration with Rain Cards and the Glo Foundation is just the beginning.

We invite other companies to join us in fighting against extreme poverty through the Glo Consortium. You can use Rain’s spend management platform to gain seamless access to fiat for business expenses, and can contribute to a good cause by simply choosing USDGLO as collateral. Every transaction, every collaboration, is a step towards a better world. Join us as we forge a path towards a more inclusive and responsible digital economy.

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