Rise is thrilled to announce that it was selected as this year’s winner of PitchFest! Chosen from a competing body of hundreds of innovative crypto and Web3 projects, Rise impressed judges with its comprehensive fiat and crypto payroll and compliance solution.
PitchFest is part of Consensus, the largest gathering of Web3, blockchain, and crypto projects worldwide hosted by CoinDesk. A high-anticipated component of the annual conference, PitchFest is an opportunity for startups and entrepreneurs in the blockchain space to propose their projects or ideas to a panel of judges and potential investors.
In a bid to secure funding or partnerships, the event provides a platform for innovators to showcase their projects and gain exposure within the blockchain community.
At this year's PitchFest 2023, over 600 projects within the blockchain, crypto and web3 industries applied to participate. Out of the initial pool, twelve finalists were selected to fly to Austin and present their proposals in front of a panel of judges at Consensus.
Rise emerged as the standout finalist among the competition following intense rounds of proposals and discussions.
Rise is Empowering Global Access to Crypto
A theme that emerged at PitchFest 2023 was broadening financial access to unbanked populations. Rise directly addresses this with its unique infrastructure which allows for direct connections between the Rise Pay platform and a user’s digital wallet.
Whereas other crypto payroll solutions require both organizations and contractors to have access to a traditional bank account to send and receive funds, with Rise all transactions can occur on chain.
This has opened the door for not only Web3-native projects funding treasuries in crypto but for unbanked contractors worldwide.
At present, 70% of Latin America remains either unbanked or underbanked. With many skilled contractors based out of these unbanked regions, access to alternate means of payment is of paramount importance.
Rise has been recognized as a critical bridge between top talent without access to traditional banking and global employment opportunities.
Rise falls in the middle of the Web2 to Web3 spectrum. Alongside crypto payroll and compliance, Rise is fully compatible with fiat currencies and traditional financial structures. This flexibility and adaptability stood out to judges at PitchFest with Rise representing a versatile solution meeting rising demand for more inclusive payment methods.
The honor of being selected as PitchFest’s winner is a significant stride in advancing Rise’s goal of bringing crypto to the wider global community.
