What is AllScale? A $5 Million Stablecoin Neobank Disrupting Cross-Border Payments

AllScale is the world’s first self-custodial stablecoin neobank, creating borderless financial infrastructure specifically for micro-businesses and freelancers. The platform has completed a $5 million seed round led by YZi Labs. It integrates invoicing, cross-border payroll, and social commerce features, leveraging account abstraction technology to replace complex mnemonic phrases with Passkeys, and has partnered with BNB Chain to enable zero gas fee transactions.

Three Fatal Flaws of Traditional Cross-Border Payments

The global economy increasingly relies on the participation of international freelancers and consultants, but the traditional banking system poses major obstacles. According to research by venture capital firm a16z, sending remittances to individuals abroad can cost as much as $12.13, whereas using stablecoins costs only $0.01. This 1,200x cost difference isn’t an isolated case, but rather a structural issue within traditional financial infrastructure.

The first flaw is high fees. Banks and remittance companies take a cut at every step of the cross-border payment process—from the sending bank to intermediary correspondent banks to the receiving bank. For businesses, reducing or eliminating credit card fees could boost profitability by over 60%. This means traditional payment systems are directly eroding the already thin profit margins of small and medium businesses.

The second flaw is slow settlement speed. Wire transfers typically take 3 to 5 business days, and can take even longer in emerging markets. For freelancers in urgent need of funds or businesses needing to quickly pay suppliers, this delay can break cash flow. Worse still, such delays come with uncertainty—funds can be frozen for review or returned due to compliance issues.

The third flaw is geographic restrictions. Many professionals in emerging markets simply can’t open international bank accounts, or their local banks don’t support receiving certain currencies. In Latin America, Asia, and Africa, stablecoins have become indispensable tools for the unbanked, underbanked, or those without access to services. Many rely on crypto for international remittances, preserving long-term savings, and avoiding currency volatility and inflation in daily transactions.

AllScale’s Technological Innovation and Product Matrix

The answer to “What is AllScale?” lies in its three-layer product architecture. The first layer is a smart invoicing system, allowing users to create and send invoices, request payments via links, and track status—all from a single dashboard. Recipients can pay using their preferred method, whether stablecoins, wire transfers, crypto wallets, or credit/debit cards. Payments are processed and settled instantly—not in days or weeks—and senders can choose to receive in stablecoins, automatically hedging against exchange rate risk.

The second layer is an automated payroll system, designed for cross-border teams. Businesses can top up their accounts via wire transfer, execute and approve multi-person payrolls with one click, and track funds in real time via instant alerts. This system radically simplifies contractor payments, eliminates costly intermediaries, and ensures instant, global delivery. In real-world testing with HashMatrix agency operations, this MVP system—originally run on spreadsheets—quickly processed nearly $500,000 in monthly volume, proving market demand far exceeded expectations.

The third layer is social commerce functionality. AllScale allows users to create personalized profiles, promote services, list products, and accept payments, combining landing page and online store features. Once published, the public URL can be shared on social media, personal bios, or directly with clients. Visitors can submit order requests; the system auto-generates pre-filled invoices and owners receive payment immediately upon approval. Upcoming features include ratings and reviews, service portfolio displays, and instant chat or message requests, deeply integrating payments with social interactions.

Three Major Technical Breakthroughs of AllScale

Passkey Authentication: Uses account abstraction to replace 12-word mnemonics with biometric or device PIN, reducing user onboarding friction by 99%.

Multi-chain Zero Gas Fee Architecture: In partnership with networks like BNB Chain, adopts a “paymaster” model so businesses can cover gas fees for users, enabling a truly free experience.

AI Financial Assistant: The roadmap includes AI-powered features to help users auto-generate invoices, forecast cash flow, and intelligently manage cross-border payment timing.

These innovations let AllScale bypass blockchain complexity while retaining the efficiency advantages of stablecoins. Users enjoy instant, global payments without needing to understand private keys, gas fees, or block confirmations. This “de-cryptofied” design philosophy is key to AllScale’s ability to penetrate the mainstream SMB market.

Star Team and Top-Tier Institutional Backing

Founder Shawn Pang’s entrepreneurial journey is highly instructive. While majoring in computer science and business at Western University, he first encountered crypto through hackathons. After graduation, he became a product manager for payment fraud and risk management at Capital One and TikTok, becoming the first person in Canada to hold this position. His co-founded HashMatrix became an AI product agency for tech giants like Alibaba, ByteDance, Insta360, and fast-growing startups like Rabbit R1, Pix AI, and Kling, with revenues doubling almost every quarter, reaching seven-figure peaks.

Co-founders Ruoyang Wang and Jun Li, who lead AllScale alongside Pang, bring expertise in product, compliance, and legal, with experience at Block, Capital One, and TikTok. This combination of backgrounds across crypto exchanges, traditional finance, and tech giants ensures AllScale not only understands blockchain technology, but also financial compliance and product experience design.

The investment lineup is equally impressive. YZi Labs notes that AllScale’s efficiency and user-friendly experience with stablecoins gives it an edge in capturing market share. David Yin of Informed Ventures highlights that the platform offers small businesses financial tools previously available only to large enterprises. Aptos, as a high-performance public chain investor, suggests AllScale may integrate its tech stack. DeepMind (Google’s AI research arm) participation hints at the technical depth of the AI financial assistant.

Additionally, pre-seed investors include Draper Dragon, Amber Group, Oak Grove Ventures, y2z Ventures, Cyberport Hong Kong, and several veteran crypto angel investors. This mix of VC, exchanges, and industry resources provides AllScale with not just funding, but strategic support for global expansion.

Global Expansion Roadmap from Africa to Latin America

AllScale’s market strategy reflects deep insight into underserved regions. The company has already forged key partnerships with African freelancer communities and plans to enter the Latin American market next quarter. These regions share common traits: low banking penetration, unstable local currencies, and strong but unmet cross-border payment needs.

The US “Clarity for Payment Stablecoins Act” allows banks, fintechs, and credit unions to obtain stablecoin issuance licenses, and Hong Kong passed its own stablecoin regulations three days later. These regulatory breakthroughs give AllScale a compliance framework to operate legally across multiple jurisdictions. Mainstream adoption is now irreversible, as companies from Uber to Amazon and financial giants like JPMorgan and Bank of America have announced stablecoin adoption.

Pang emphasizes that AllScale aims to serve other SMBs, helping them benefit from the new paradigm enabled by stablecoins, but without the complexity of blockchain. The platform is still in testing, with the team prioritizing top-tier user security. Upcoming features include an AI-driven financial assistant, team communication tools, and in-platform live customer support.