Reimagining Payroll, Investments, Subscription Funds, Rewards & Extra With Up-to-the-Second, Frictionless & Low-Charge Cash Streams
Zebec Payroll is First Tax Compliant, On-Chain Payroll Processing System
Modern Funds Firm Raises $6 Million in New Funding to Present Companies, Staff, Customers & Traders with Freedom to Entry Their Cash Immediately
SAN FRANCISCO, November 10, 2021–(BUSINESS WIRE)–Zebec Protocol launches right this moment on Solana mainnet to redefine finance. As the primary programmable money movement protocol on Solana, Zebec allows real-time and steady streams of funds and monetary transactions for payroll, investments and extra.
The automated cash streams made potential by means of the Zebec Protocol permit companies, workers and shoppers to utterly reimagine how they’re paid, how they make investments and the way they purchase services or products. Not like conventional monetary settlement programs that transfer cash on a one-time foundation and require intermediaries who cost charges and take a number of days to course of, Zebec’s distinctive protocol permits cash to be despatched up-to-the-second in a steady and instantaneous stream.
Zebec offers folks with the liberty to entry and use their paycheck immediately with out having to rely on middlemen establishments who presently revenue by delaying transactions and are anticipated to earn round $430 million in curiosity subsequent 12 months simply on the cash they maintain on their steadiness sheets whereas settlements are being processed. Zebec strikes cash utterly on-chain with out intermediaries, delays or dangers of non-payment.
Zebec Protocol’s first utility, a low-fee, payroll answer referred to as Zebec Payroll allows workers to be paid by the second — in USDC or different stablecoins — and instantly use their cash. As the primary tax compliant, on-chain payroll processing system, Zebec Payroll allows real-time and steady streams of economic transactions for funds, investments and extra.
By Zebec Payroll workers may also have entry to superior crypto-native monetary companies together with:
-
Automated Greenback Price Averaging: Zebec is the one real-time, by-the-second greenback price averaging investing mechanism obtainable anyplace. Customers can mechanically convert a share of their paycheck into prime cryptocurrencies.
-
Investments & Yield-Farming: Staff even have full management over how they use their cash with simple to program sensible contracts that permit them to mechanically put money into crypto or DeFi purposes to earn yield.
-
Crypto IRA & 401k Accounts: Staff can simply allocate a portion of their paycheck to compliant crypto IRA & 401k accounts.
-
Free Fiat On-Ramp & Off-Ramp: Customers can swap their cryptocurrencies into USD and switch their cash to their common financial institution accounts with out paying a payment.
“Rising up below a dictatorship in Nepal, I witnessed first-hand the oppression of not having freedom over how to make investments, save, and spend your cash,” mentioned Sam Thapaliya, founder and CEO, Zebec. “The mission of Zebec is to give anybody, anyplace full autonomy over their cash. Zebec is the funds answer that can energy the Web3 digital financial system and provides anybody energy over their cash that has by no means earlier than been potential.”
Zebec Protocol can also be saying $6 million in new financing led by Republic Capital, Shima Capital and Breyer Capital with participation from Resolute Ventures, Launchpad Capital, Backend Capital, Meltem Demirors, Gemini Frontier Fund, Infinity Ventures Crypto, Wave 7, Cadenza Ventures, Hack VC and Joe McCann.
“We’re proud to lead this spherical and put money into Zebec’s transformative money stream expertise,” mentioned Christian Sullivan, Co-Founder and Managing Director, Republic Capital. “The expansion of the digital financial system has been hindered by a scarcity of tax compliant, frictionless cost processing applied sciences. Zebec lastly makes it simple for anybody to ship and obtain money in real-time with out intermediaries, delays or dangers of non cost. And that is simply the beginning of what Zebec is able to. With plans to allow cross chain stream, we’re excited for what else is in retailer.”
“DeFi lacks TradFi volumes — Zebec is on its means to fixing this downside by porting the large conventional world transactional volumes on-chain through its progressive streaming protocol, beginning with payroll,” mentioned Yida Gao, Common Associate, Sima Capital. “We’re honored to co-lead this spherical to again Sam and his workforce on bringing the following 100M customers into Web3.”
“Zebec aspires to remodel payroll by permitting employers to pay workers each second,” mentioned Jim Breyer, founder, and CEO of Breyer Capital. “The potential purposes of this web3 expertise are thrilling. We applaud the workforce on the launch and look ahead to Zebec’s continued development and success.”
Zebec Protocol is launching on Solana, the quickest and most-scalable blockchain that may energy up to 50,000 transactions per second for massively decrease charges in contrast to the Ethereum blockchain. A brand new money stream on Zebec Protocol could be established in minutes by means of the corporate’s easy-to-use utility for just one Solana fuel payment of a fraction of 1 cent.
About Zebec Protocol
Zebec Protocol is the primary programmable money movement protocol on Solana, enabling real-time and steady streams of funds and monetary transactions for payroll, investments and extra. The automated cash streams made potential by means of the Zebec Protocol permit companies, workers and shoppers to utterly reimagine how they’re paid, how they make investments and the way they purchase services or products. To be taught extra, go to Zebec.io.
View supply model on businesswire.com: https://www.businesswire.com/news/home/20211110005872/en/
Contacts
Media:
John Eddy
[email protected]
