SalPay ICO–Remittance and Banking SE Asia!

Posted: December 19, 2017 by Tyler Swope

SalPay ICO–Remittance and Banking for SouthEast Asia

Well I have been getting a lot of request to talk about a payment crypto…monaco, tenx, etc. Well I think I have sniffed out an ICO that is going to take the Payment, Payroll, and Remittance market by storm. The crypto I am talking about is the SalPay ICO. SalPay ICO is a crypto token to remit payroll cross-border and power a financial ecosystem.

SalPay ICO and Salarium

Now the basis of SalPay ICOcomes in the form of Salarium….Salarium is a payment ecosystem that allows companies from all over the world to pay people and companies in the Philippines. They use Ethereum blockchain technology to allow remittances and payments at a fraction of the cost that banks can offer. The company has already serviced thousands of people, and Founded in 2013 they are a leading Fintech company in the Philippines with over 60 employees.

Judah Hirsch, the CEO, pitched the idea of Salarium to Seedstars and eventually won the seed competition and gave them the investment to form Salarium. Salarium decided to take on the payroll market within the phillipinees. They decided to solve the major problems that many employees and companies were facing in the phillinnes such as payment distributions, remittance, and others.

Most payroll in the phillipinees was done manually, but with Salarium they can save human resources up to 80 percent more time by having it done automatically through Salarium.

Disbursement is also a major problem. Most companies just have their disbursement as a text file and they send that to a bank to do. This is extremely inefficient.

SalPay ICO Problems Aiming To Solve

Many business lose money in remittances-foreign BPOs and Multinational Companies. As you know, there are many multinational companies in Southeast Asia, and they lose 2.2-5 percent and 3-5 days remitting payroll into the phillippines and the region. Current clients of Salarium include atram, Philippine Transworld Shipping Corporation, HCM nexus, college of arts and technology, gssi, steam engine studios, and many….many more…the client list grows everyday. Boom already they have working partnershipsa and clients…satisfying another pillar to a very successful crypto project

So as everyone know with Chico Crypto, we love working products and Salarium is a working product!!! Their payroll software is used by over 500+ companies, and over 10,000 employees. They do a monthly payroll of 10 million. Salarium’s brain child is the end-to-end payroll system that provides time and attendance keeping, payroll and expense processing, and salary disbursement that includes even the global logistics leader DHL as a client. They have proven to be highly salable and innovative, and already have massive traction in the global market. Asia is the remittance capital of the world and remittance reached USD 26.8 Billion dollars. South East Asia (the Philippines, India, Vietnam, Malaysia, Indonesia are one of the largest inward and inter-remittance markets in the world. The area they are targeting is the correct one.

SalPay ICO Gem

This is an ICO Gem, that needs to get the attention it deserves. It is very rare to have a business with something that is so established and already working in the space. They have a very innovative model of getting clients on board too….they use a business to business to consumer model. First they offer the Salarium payroll solution for no cost-or minimal cost to the business who then turns his employees into users of Salarium banking features.

The features they provide go through their SalPay ICO E-Wallet. SAL is the cryptocurrency that will be offered by Salarium. So how are these token going to be useful……..well lets take a look at this quick clip which explains it very well.

SalPay Token Metrics

SalPay tokens will become the native currency for SalPay ICO, the wallet and card are already currently available in the Phillipines to spend directly SALPay tokens or though interoperability any ERC20 token. Again, a working product….and I love working products.

The token sale actually started on November 27th 2017 and ends in 16 days so fire up those engines gals and guys.

The toal supply of tokens is 100 million, and the ICO price is 1 SAL is .40 cents. Minimum contribution is .1 ETHEREUM. Accepted currencies besides ETH are BTC and Bankwire. The soft Cap is 7 million dollars and the Hard Cap is 20 million dollars. No bonuses are given, which is very straight forward….Chico Crypto approves. All unsold tokens are burn, and the investors and employees have a 1 year hold on their tokens. In the crowd-sale 50 percent of tokens will be sold, 20 percent for employees and investors, 10 percent in the presale, 10 percent is held for exchanges, and 10 percent for bounties.

SalPay Team

Taking A look at the main compenents of the team…Judah Hirsch is the founder of CEO…he won seedstars the seed company competition held in Switzerland every year in 2014 and has years of experience in the fintech industry working for Geneva Group, Isreal Chamber of Commerce, and Icon Interactive

Russell Shepherd is the CTO and has years experience in the tech industry working as CTO for rappler, and was the cofounder and CTO of Reach Social

Fadzly Yusof is the project director and has expeirnece managing many projects for Telecom, Media, and Gaming. He has formerly been the business development director for Juvo, and CEO of Kasakoo.

SalPay Roadmap

The Roadmap goes as follows, in January of 2018 the SALPAY Token drop happens, IN march of 18 Salpay 3.0 with blockchain wallet, with the Salpay token exchange opening in the phillipines as well as outside the phillipnes. In june of 2018 they plan to open their first exchange in the US….can I recommend TEXAS……also they plan to open in the European Union and Australian markets.

Cryptocurrency is blazing a new path towards a global decentralized market and SALPay is taking the already working model of Salarium and implementing blockchain solutions to save business and employees money. And who doesn’t like saving money….This project is doing it the right way, creating value first for people, then implementing the blockchain solutions….I hope a lot of ICOS learn something from this one because IMO this will be one of the ICOs that stick around…..

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