Loyalty becomes lifestyle: Rain and Uptop on stablecoin rewards

Episode 7 of Layer One, hosted by The Block's Kelvin Sparks and Hypha founder Steven Gates, was recorded with Charles Yoo-Naut, co-founder of Rain, and John Gomez, co-founder and former CEO of Uptop.

In episode seven of Layer One, The Block's Kelvin Sparks and Hypha Founder Steven Gates were joined by Charles Yoo-Naut, co-founder of Rain, and John Gomez, co-founder and former CEO of Uptop. The group discussed the convergence of stablecoin payments and onchain loyalty infrastructure, why rewards plus payments are becoming table stakes, and how sports and IP are driving real-world adoption.

OUTLINE
00:00 - Intro
03:58 - What is Rain
04:30 - Uptop + acquisition fit
06:01 - Fundraise & M&A lessons
12:43 - Why rewards matter
16:29 - Stablecoin “aha” moment
25:26 - Regulation, timing, builders
33:53 - Lifestyle banking & IP
41:59 - Marketplaces, on-ramps, costs
47:35 - Why raise $250 million
50:11 - Stablecoins in three years
51:56 - Proliferation of issuers
53:59 - Closing remarks

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