Rhythmic has announced a $4M raise.
Rhythmic has secured capital to build reward programs for financial and consumer-facing services.
This venture deal was led by Dragonfly (recently raised $650M fund per Fortune) and other participants, including The Fintech Fund, The Venture Dept and Mirana Ventures.
Co-founder and CPTO Joseph Hayes expressed:
We are giving everyday users the power of stablecoins through brands that they already know and trust. We’re embedding stablecoin financial services into existing user brands that everyone uses today.”
Rhythmic’s founders (ex-Visa, Mastercard and Walmart) are expecting to launch a whitelabelled infrastructure service focused on managing user rewards from purchasing and account activity, such as stablecoin cashback and stablecoin points for supporting big brands.
Stablecoin-linked cards are one of the fastest scaling opportunities of the stablecoin boom, and adding loyalty rewards to high volume, low cost consumer environments is a good way to get mainstream stablecoin adoption outside of pure cost and speed advantages.
