Tune into the podcast episode above or on Spotify or Apple
00:00–3:35: Show, episode, and guest intro
3:35–7:40: Identifying what will become a new phenomenon
7:40–17:07: The origin story behind AllScale
17:07–19:44: Why other companies have yet to solve the problem AllScale is tackling
19:44–27:00: How exactly AllScale’s invoicing, payroll, and social commerce products work
27:00–28:30: Rewarding stories from AllScale’s clients
28:30–32:00: Biggest problems faced in building on AllScale
32:00–34:25: Three things that Shawn believes in that’s been pivotal to his success
34:25–35:30: What can be expected next from AllScale in the coming months
35:30–37:00: Reflections on Vancouver’s innovation ecosystem
With stablecoin transforming payments by cutting out the middlemen, delays, and fees, experts predict its effect will mirror breakthroughs like the iPhone, WhatsApp, and ChatGPT and one B.C. company is building toward leading the way for small and medium-sized businesses (SMBs).
The cryptocurrency essentially acts like a digital stand-in for cash. It’s designed to maintain a stable value by being tied to a traditional asset in reserve, like USD, EURO, or gold. That means if you hold a stablecoin worth $1, the issuer must keep $1 in reserve so you can instantly cash it out when needed. Running on blockchain infrastructure, stablecoin allows for moving money quickly and around the clock at a fraction of the typical costs.
According to research from venture capital firm a16z, sending money to an individual in another country could cost about $0.01 compared to $12.13 through traditional systems. For companies, profitability could increase as much as over 60% from reducing or eliminating credit card fees.
In Latin America, Asia, and Africa, stablecoin has already become essential for those who are un- or underbanked or lack access to services. Many rely on the cryptocurrency for sending money internationally, preserving the value of their long-term savings, and avoiding daily currency and inflation swings in everyday transactions.
Meanwhile, in the U.S., corporations are tapping into stablecoin for new customer services and to manage internal finances, like SAP and Visa. Tech giants from Uber to Amazon and financial institutions like JPMorgan and Bank of America have announced plans to follow, and more are expected with the U.S. passing the GENIUS Act. The legislation allows banks, fintechs, and credit unions to obtain licenses to distribute or issue stablecoins.
As momentum builds, products are being built to cater to the growing demand from both individuals and large companies. That’s left a gap in the middle for those who often lack the necessary tech talent and budget to stay up to speed with their counterparts: SMBs.
Recognizing this, Vancouver-based serial entrepreneur Shawn Pang founded AllScale. The fintech startup is creating stablecoin solutions that are more accessible, intuitive, and compliant for SMBs—from invoicing to payroll to social commerce—to help them scale more efficiently.
Leading AllScale alongside Pang are co-founders Ruoyang Wang and Jun Li. Collectively, they bring a wealth of experience in product, compliance, and legal at major firms spanning crypto, finance, and tech—Kraken, Block, Capital One, OKX, and TikTok.
The trio founded AllScale in February of this year and raised $1.5 million in pre-seed funding last month to accelerate the development and adoption of its products. Participating investors include venture capital firms Draper Dragon, Amber Group, KuCoin Exchange, Oak Grove Ventures, y2z Ventures, Cyberport Hong Kong, and angel investors Gracy Chen, Tony Chen, Shun Ma, and Jedi Lu.
This is the story of how a series of pivots led to a breakthrough that started with an MVP running on spreadsheets and soon processed about half a million each month.
