AllScale.io: Early-stage stablecoin neobank with solid backing but unverified security
AllScale.io is a legitimate, venture-backed stablecoin payment platform—not a token project—targeting freelancers and small businesses in emerging markets. Founded in February 2025 and backed by $6.5M from reputable crypto VCs including YZi Labs, Draper Dragon, and KuCoin Ventures, the company shows positive signals: a publicly doxxed team with verifiable experience at Kraken, Capital One, and Block, plus institutional backing from Hong Kong's Cyberport incubator. However, the absence of public security audits and the platform's extreme youth (under one year old) warrant careful due diligence before significant engagement.
What AllScale does and the problem it solves
AllScale positions itself as the "world's first self-custody stablecoin neobank," specifically designed for the 600+ million global microbusinesses—freelancers, content creators, SMBs, and remote contractors—who struggle with traditional cross-border payments. The core problem: international freelancers face bank account barriers, high wire fees, currency conversion losses, and settlement delays often exceeding 5 business days.
The platform enables businesses to create invoices, receive payments in USDT or USDC regardless of how clients pay (credit card, wire, or crypto), and access funds instantly through a non-custodial wallet. Key products include AllScale Invoice (live since September 2025), AllScale Pay (social commerce via Telegram, WhatsApp, Line), and AllScale Payroll (cross-border contractor payments). The company emphasizes "invisible crypto"—clients may not know they're using blockchain rails while merchants receive stablecoins.
Current development stage: The platform is in public beta with a working product live on BNB Chain mainnet. Users can access the dashboard at dashboard.allscale.io, though a waitlist may apply.
Technical architecture relies on BNB Chain and account abstraction
AllScale builds on existing blockchain infrastructure rather than operating its own chain. The primary technology stack includes:
| Component | Implementation |
|---|---|
| Primary blockchain | BNB Chain (official ecosystem partner) |
| Secondary networks | Undisclosed "high-efficiency Layer 2 networks" |
| Wallet type | Non-custodial, self-custody smart contract wallets |
| Authentication | Passkey-based (FaceID/TouchID)—no seed phrases |
| Gas handling | EIP-7702 paymaster architecture—zero user gas costs |
| Account model | Account Abstraction (likely ERC-4337) |
| AI features | LLM-enabled "financial copilots" |
The passkey-based approach eliminates the notorious UX friction of seed phrase management, lowering the barrier for mainstream adoption. The multi-chain paymaster sponsorship architecture handles transaction costs behind the scenes.
What's missing: AllScale maintains no public GitHub repositories—the infrastructure is proprietary and closed-source. No smart contract addresses have been published, no public APIs or SDKs are available, and technical documentation at docs.allscale.io focuses on user guides rather than architecture specifications. This opacity prevents independent technical verification of their claims.
No native token—the platform uses USDT and USDC
AllScale does not have a native cryptocurrency token. This is a critical distinction from many Web3 projects: there is no ICO, IDO, token sale, or speculative asset involved. The company operates as a traditional Delaware C-corp raising equity funding.
The platform uses third-party stablecoins—primarily USDT and USDC—as the payment medium. Users receive payments in stablecoins, with automatic conversion from fiat or card payments. Integration with BNB Chain also provides access to USD1 (the Binance-affiliated stablecoin).
Revenue model (estimated, not publicly disclosed):
- Transaction fees on invoice/payment processing
- Currency conversion spreads on fiat-to-stablecoin exchanges
- B2B payroll management services
- On/off-ramp integration fees
The absence of a token eliminates certain risks (speculative volatility, tokenomics manipulation, regulatory securities concerns) but also means there's no token-based exposure for investors beyond equity participation.
Four publicly doxxed founders with verifiable backgrounds
AllScale's team demonstrates strong transparency—all founders are publicly identified with verifiable professional histories:
Shawn Pang (CEO & Co-Founder): Computer Science and Business from Western University. Former Product Manager for payment fraud at Capital One; first PM in Canada at TikTok; co-founded HashMatrix, a growth marketing agency for AI products.
Ruoyang "Leo" Wang (COO & Co-Founder): Computer Engineering from University of Toronto. Background at PingCAP (distributed databases), IBM, AMD, and Scotiabank. Previous startup experience with CP Clickme.
Jun Li & Khalil Lin (Co-Founders): Additional co-founders with legal/compliance expertise, reportedly including OKX background. LinkedIn profiles available.
Avrilyn Li (Founding Product Manager): AI-to-Web3 entrepreneur from Ivey Business School, leading the payroll product.
The team claims collective experience from Binance, OKX, Kraken, Block (Square), Amazon, Dell, and HP. Total team size is approximately 7-11 employees.
Funding and investors
| Round | Date | Amount | Lead Investors |
|---|---|---|---|
| Pre-Seed | June 30, 2025 | $1.5M | Draper Dragon, Amber Group, Y2Z Capital |
| Seed | December 8, 2025 | $5M | YZi Labs, Informed Ventures, Generative Ventures |
| Total | $6.5M |
Notable participating investors include KuCoin Ventures, Oak Grove Ventures, BlockBooster, Aptos, GSR Ventures, and V3V Ventures. Angel investors include Gracy Chen and Jedi Lu. The company is a member of the Hong Kong Cyberport Incubation Program, a government-backed tech accelerator.
Major security concern: no public audits or bug bounty program
This is the most significant red flag in the research. Despite handling user funds through smart contract wallets:
- No public smart contract audits from recognized firms (CertiK, Hacken, Trail of Bits, OpenZeppelin, SlowMist)
- Not listed on CertiK Skynet or similar security databases
- No bug bounty program on Immunefi, HackerOne, or Bugcrowd
- No insurance or coverage mechanisms disclosed
- No security disclosure policy publicly visible
AllScale claims security features including self-custody architecture, automated KYC/KYB/KYT compliance, hardware security module (HSM) integration for passkeys, and 2FA support. The self-custody model does reduce platform counterparty risk—if AllScale were compromised, users' funds in their own wallets would theoretically be safer than in a custodial service.
On the positive side: No security incidents, hacks, or exploits have been reported for AllScale. However, given the platform's youth, this absence of incidents may simply reflect limited exposure rather than robust security.
Competitive landscape and market positioning
AllScale competes in the rapidly evolving stablecoin payments space:
| Competitor | Positioning | Key Difference |
|---|---|---|
| Bitpace | UK-based crypto payment gateway | B2B merchant focus vs. AllScale's SMB focus |
| Loop Crypto | Stablecoin payment processor | More developer/API-oriented |
| Swapin | European stablecoin processor | Fiat settlement focus |
| Bridge (Stripe acquired for $1.1B) | Stablecoin API infrastructure | Enterprise-focused, acquired |
| PayPal/Stripe | PYUSD, USDC integration | Massive distribution, established trust |
AllScale's differentiation factors:
- Self-custody model (users control funds)
- Passkey authentication eliminating seed phrase UX
- Zero gas fees via account abstraction
- Emerging market focus (Africa, Latin America, Southeast Asia)
- "Last-mile" SMB targeting vs. enterprise focus
Disadvantages: Extreme youth, small team, limited track record, competing against well-funded incumbents with established distribution channels.
Community presence is early-stage and B2B-focused
AllScale maintains standard Web3 social channels:
- X (Twitter): @allscaleio (active since April 2025)
- Telegram: AllScaleHQ community group
- Discord: Active server with community ID visible
- LinkedIn: AllScale Inc company page
- Newsletter: "The Stablecoin Scoop" on Substack
The community is early-stage, with engagement primarily through AMA sessions, X Spaces, and partnership announcements. AllScale hosted the Scale Stablecoin Summit in Hong Kong (June 2025) with HashKey Group and Amber Group.
No traditional DeFi metrics apply: AllScale is a payments platform, not a DeFi protocol, so TVL (Total Value Locked) metrics are not applicable. The platform is not listed on DeFiLlama or Dune Analytics. User count and retention metrics are mentioned by investors but not publicly disclosed.
Notable partnerships include BNB Chain (official ecosystem partner), Skill Afrika (African freelancer communities), Ethscriptions (L1 permanence), and Asseto (RWA tokenization for yield products).
Risk assessment reveals moderate-risk early-stage venture
Positive legitimacy signals
- Publicly doxxed team with verifiable professional backgrounds
- Reputable crypto VCs (YZi Labs, Draper Dragon, Amber Group, KuCoin Ventures)
- Hong Kong Cyberport institutional backing
- Delaware C-corp legal structure
- Working product live on BNB Chain mainnet
- No scam allegations, BBB complaints, or community warnings found
- No anonymous team concerns
- No unrealistic yield promises or token speculation
- Compliance-forward positioning (GENIUS Act, Hong Kong Stablecoin Ordinance)
Areas requiring caution
- Extreme youth: Founded February 2025, under one year old
- No public security audits despite handling funds
- No bug bounty program
- No independent user reviews or community feedback available
- Closed-source infrastructure—cannot independently verify claims
- Press coverage primarily press release syndication, not independent journalism
- Centralization risks: Company-operated platform, BNB Chain dependency
- Small team (~7-11 people) executing ambitious global scope
Not found (potential yellow flags by absence)
- No user metrics publicly disclosed
- No revenue figures
- No formal advisory board
- No specific regulatory licenses (Hong Kong framework not yet effective)
Recent developments and roadmap
Recent milestones (2025):
- December 8: $5M seed round announced (YZi Labs led)
- November: AllScale Pay live on BNB Chain; Skill Afrika partnership
- October: Ethscriptions partnership for L1 permanence
- September: AllScale Invoice product launch
- August: BNB Chain integration with USD1 support
- June: Scale Stablecoin Summit Hong Kong; $1.5M pre-seed funding
Upcoming:
- Q1 2026: Latin America market expansion
- Future: DeFi yield options, expanded cross-chain capabilities, B2B enterprise solutions
Conclusion
AllScale.io emerges as a legitimate early-stage startup rather than a scam concern, backed by credible investors and a transparent, verifiable team. The project addresses a real market problem—cross-border payment friction for emerging market freelancers—with a thoughtful technical approach leveraging account abstraction and stablecoins.
However, two significant gaps demand attention before meaningful engagement: the complete absence of public security audits and the closed-source infrastructure that prevents independent verification. For a platform handling user funds, these omissions are material concerns regardless of the team's credentials.
Overall risk rating: Moderate. The venture shows strong legitimacy signals but carries inherent early-stage risks. Potential users should start with small amounts until security audits are published. Potential partners should request direct access to technical specifications and audit reports. The project is worth monitoring as it matures, particularly for any security audit announcements in Q1 2026.