Fintech startup AllScale announced the completion of a $1.50 million funding round, with participation from institutions such as Amber Group.

According to official sources, fintech startup AllScale has announced the completion of a $1.50 million funding round to accelerate the development of its compliant stablecoin solutions for small and medium-sized enterprises, including invoicing, social e-commerce, and payroll services. The round was participated in by institutions such as DraperDragon, Amber Group, Y2Z Capital, KuCoin Ventures, Oak Grove Ventures, Blockbooster, and Movemaker. AllScale is also a member of the Hong Kong Cyberport Incubation Programme. AllScale is committed to solving the compliance, integration, and accounting challenges that exist in stablecoin enterprise applications, providing a one-stop toolkit to help SMEs achieve stablecoin payments and settlements with a lower barrier to entry. Its founding team members have previously worked at well-known companies such as Kraken, Block, CapitalOne, OKX, and TikTok. [ChainCatcher]