Reinventing salary with a blockchain-based fintech product
Glim wanted to reimagine how salary works, enabling employers to pay their employees in digital dollars (USDC) and shielding earnings from inflation and currency devaluation.
The team looked to Blankfactor to conceptualize, design, and build this innovative product from end to end. From designing the architecture and orchestration to an intuitive and engaging interface, Blankfactor applied its expertise in product development, blockchain, and financial services technology to deliver a powerful fintech solution for employers and employees.
- Build a proprietary core-banking-like ledger system fully independent of custodians, exchanges, etc.
- Ensure that the ledger system is entirely secure—a write-once, read-only ledger that can be audited for security and fraud prevention
- Complete compliance checks with EY to validate the flow of funds and business model to fully align with current regulations
- Design and build employer-facing back-end system
- Design and build employee-facing application on Android and iOS, including stablecoin wallet and pre-paid card for cash-back rewards
- Fully integrate on-ramps and off-ramps
With Blankfactor’s help, the Glim product is ready for the market.
The first payroll has been successfully processed and employers have signed LOIs to be waitlisted. Glim has also launched a partnership with Mastercard, powering an integrated pre-paid card to enable cash-back rewards for employees.
“Many of Blankfactor’s experts come from financial institutions and really successful banks, so we had a lot of know-how on that… It’s a really complex orchestration. Blankfactor helped a lot with that…”