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ComplyLaunch Customer Spotlight: Stablegains

Start-Up Customer Stories

As decentralized finance (DeFi) continues to expand across the globe and transform the financial landscape, entrepreneurs Emil Dalgård Rasmussen and Kamil Ryszkowski have entered the space with their own high yield savings product, Stablegains. 

Recently backed by Y Combinator, Stablegains has been moving from strength to strength, providing US customers with an alternative to traditional bank savings accounts that are dogged by low interest rates. We caught up with Rasmussen from Stablegains to learn more.

Introducing Stablegains

“Stablegains is the simplest and safest way for regular people as well as businesses to earn high yield on their cash,” says co-founder, Rasmussen. 

“We’re in an environment right now where interest rates at the bank are extremely low, often as low as 1% or 0.5%, while inflation is well over 5%. […] On one hand, we have this broken savings experience from traditional finance where you can’t effectively make your money work for you in a bank. […] But on the other hand, there’s all this innovation happening with blockchain and decentralized finance that offers more efficient ways to earn interest.”

Through Stablegains, Rasmussen and Ryszkowski have made the benefits of such DeFi innovation accessible to the masses – providing flexibility and efficiency to those wanting to earn a meaningful and stable yield on their savings.

Innovation made accessible

“What I love most about building Stablegains,” continues Rasmussen, “is the opportunity to revolutionize this industry that is thousands of years old and bring the newest technology to regular people today. 

“All the innovation that is happening right now in the deeper layers of blockchain is definitely very interesting, but it can be a confusing jungle. What is exciting for us is getting to bring the benefits of it to most of us that don’t have the opportunity to spend most of their day trying to understand the DeFi space. 

“The fact that we’ve grown so fast makes it very clear that there is a lot of demand for our product. This is so exciting to see!”

People at the heart of business

As many startups tell us, one of the proudest moments on the journey toward building a company stems from creating a product that actually works for your first users. Rasmussen added, “The moment you realize that you have something that people want because it creates value for them is extremely powerful – it feels great!” 

“This dawned on us when we did our first early access program. We had a bunch of people in the beginning who seemed interested in what we were doing, but actually onboarding them onto our scrappy minimum viable product and hearing them say that they really liked what we were doing was amazing.”

Getting into Y Combinator

In December 2021, Stablegains was admitted to Y Combinator, the startup accelerator that was responsible for the launch of companies including Airbnb, Dropbox, Instacart, Coinbase, and many others. 

“Being a part of this ecosystem is something we have strived for many years and we’re proud to be a part of the 4% of businesses that made it into their W22 batch.”

What’s next for Stablegains?

“We just launched across 12 additional states, becoming available to 40 million more Americans. We also just made it possible for users to enable recurring deposits to effectively put the habit of saving money on autopilot. 

“Next is to launch across all of the US, followed by Europe. In terms of the product, we will continue to make it easier and more accessible for users to put their savings to work, as well as provide more earning options with different risk return profiles. 

“Our dream is to help millions of people and businesses reliably and safely achieve their financial goals. We’re getting one step closer every day.”

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Follow Stablegains:

Website: https://www.stablegains.com/

Twitter: https://twitter.com/stablegains

Facebook: https://www.facebook.com/stablegains 

Instagram: https://www.instagram.com/stablegainswip/ 

Medium: https://blog.stablegains.com/ 

LinkedIn: https://www.linkedin.com/company/stablegains/ 

Connect with Emil Dalgård Rasmussen: https://www.linkedin.com/in/emil-dalgard/ 

Connect with Kamil Ryszkowski: https://www.linkedin.com/in/ryszkowski/ 

Originally published April 12, 2022, updated April 12, 2022

Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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