TerraPay and Raenest have partnered to enable faster cross-border payouts for freelancers in India and the Philippines.
Following this announcement, TerraPay, a global money movement company, has formed a partnership with Raenest, a fintech platform serving freelancers, remote workers, creators, and digital-first businesses. The collaboration is designed to support Raenest's expansion into India and the Philippines by enabling payouts in local currencies through TerraPay's payments network.
Both markets represent significant concentrations of gig economy talent. India is home to over 1.6 million freelancers, while the Philippines counts more than 1.5 million, with workers across both countries routinely serving international clients through platforms such as Upwork and Fiverr. For these workers, access to timely cross-border payments is directly tied to day-to-day financial stability.
Addressing settlement speed and reliability
According to the official press release, through the integration with TerraPay's network, Raenest customers in India and the Philippines will be able to receive international payouts with improved settlement efficiency. The partnership is intended to ensure earnings from clients based in the US, the UK, Europe, and other regions reach workers quickly and in local currencies. TerraPay's role within the arrangement covers the underlying payments infrastructure, with compliance built into the payout process.
The broader context for this partnership is the continued expansion of the global digital workforce and the infrastructure demands it creates. Cross-border payments for independent workers have historically been subject to delays, currency conversion costs, and inconsistent settlement timelines — friction points that disproportionately affect workers in emerging markets who depend on international income.
By connecting Raenest's platform to TerraPay's network, the partnership targets this infrastructure gap directly, particularly in two markets where the volume of internationally active freelancers is substantial and growing. The arrangement also reflects a wider trend of fintech platforms focused on the gig economy seeking partnerships with established payments networks to scale their geographic reach without building local settlement infrastructure independently.
