Introduction
Today, we’re introducing Scale, a fintech company with an ambitious vision to onboard the next 100,000 global companies into the crypto-economy. Corporate spend is a $10T market, but less than .01% today happens with native digital currency. The current financial system has delays, unequal access, and barriers to innovation caused by custodial intermediaries. Scale provides businesses with a bridge into web3 by orchestrating spend management solutions between self custody accounts, banking providers, and cards.
Crypto has the potential to transform business operations and the future of the financial industry. A future where we uphold the standards of free trade, sound money, and economic freedom. Business banking is the next frontier for crypto technology and Scale is building the technology to empower web3 startups and modern CFOs. Fundamentally we believe that companies will elect to self custody of their capital and gain exposure to the opportunities present in defi if they had a financial hub they can trust; Scale is that hub.
The current crypto-economy has advanced beyond Satoshi’s original vision, and the rate of innovation today is accelerating, especially in defi. New Dapps allow people to invest, earn, stake, lend, and borrow with clear open standards. Standards that are not manipulated by any one company or country, standards that have the ability to transform the world’s financial destiny. Our job at Scale is to help make this future a reality by being the bridge into this brave new world.
Building a Financial Operating System
The road to a decentralized world of P2P transactions is hitting an inflection point. The advancement of stablecoins in USDT, USDC, UST and DAI have become important catalysts for settlement and clearing in any local currency.
Scale is building the software infrastructure to empower modern companies with the tools to go global. Once inside a company can issue cards, manage expenses across wallets, on/off-ramp into crypto, and have a complete financial picture. Cryptocurrency spending is only a $1bil market today, but the rate of acceleration is growing. Every exchange from Coinbase, FTX, and Binance are offering debit cards. These cards are primarily designed with the retail customer in mind and don’t have the spend management software needed for a growing business with a global workforce.
With Scale, a company can automate the flow of fiat into crypto while understanding the capital needed to pay off their expenses. In order for companies to take self custody of their funds and enter decentralized finance, they need to convert their holdings into a portfolio of stablecoins and crypto assets. They need a financial hub that can connect between multiple wallets to understand, manage and remain compliant with their transactions.
Initial Core Features
Our goal is to build a suite of software automation that can empower CFO’s and company operators to focus on key decisions with the right analytics. As cryptocurrency infrastructure matures companies need dedicated solutions to scale.
- Financial Dashboard
- Custodial & Non-Custodial Solutions
- Cards
- On/Off Ramp
- Expense Management / Bill Pay / Payroll
- Defi integrations / Insights
- Team Management
- Rewards
Key Benefits
As companies convert their holdings into stablecoins and crypto assets they gain an unfair advantage by utilizing traditional finance and cryptocurrency.
- On the traditional side, they gain access to Visa’s network of merchants, chargeback protection, 30-day payment spreads, and interchange cash/points back. They can create granular policies for merchant acceptance and declines for their organization.
- On the defi side, they gain access to instant global transaction settlement with suppliers and employees. They can self custody, earn high yield (20%), swap, borrow, lend, and take full advantage of the rapid innovation of protocols. As payments become due they can choose to pay between fiat in their traditional checking accounts, or a cryptocurrency of their choosing (ideally a stablecoin)
- By leaning into web3 Scale can create new rewards and incentives from from tokens and governance by being apart of the network.
Scale aims to provide the intermediary banking relationships needed to facilitate transactions in the traditional world (ach/wire/card) but push companies towards full self custody. By being the bridge between the two worlds Scale can empower companies and provide them a complete financial picture of their transactions.
Web3 Principles
When designing Scale we wanted to maintain an open dialogue with founders and communities. We believe that aligning incentives with the technology available in tokens, governance, and utility can produce disproportionate outcomes.
We are focused on delivering an incredible experience for founders and organizations, by helping shape the way global companies handle their spend, transactions and navigate into the world of defi. We believe that by enabling companies to control their capital they can innovate faster and scale with the fast pace crypto environment. Scale aims to be the financial hub for businesses