How Brale helped Glo Foundation launch Glo Dollar
USDGLOGlo Dollar
Problem
Glo Foundation's mission to unlock new sources of funding for public goods and charity through zero-cost philanthropy needed a partner to help bring a new stablecoin to market.
The situation
With a growing global community passionate about addressing public goods and charity, the Glo Foundation, supported by Sid Sijbrandij (GitLab), was established and needed to allocate resources wisely to bring Glo Dollar to market.
The challenges
As an organization without profit incentives, Glo Foundation needed to efficiently distribute program revenue generated by USDGLO to public goods and charities. Additionally, having already invested significantly in developing custom smart contracts, they needed a partner who could integrate their contracts and manage secure signing.
Glo Foundation also needed to deploy on multiple blockchains quickly without custom development, and to be able to collaborate with funding organizations in many different ecosystems to bring Glo Dollar to their communities.
“The value add that Brale brings is immeasurable. Their Stablecoin-as-a-Service approach enabled us to issue Glo Dollar in a regulatory compliant way in a matter of weeks rather than the 6+ month process of the competition. They'll do everything they can to issue, support, and grow your stablecoin. An awesome partner to work with!”
How Brale helped
Regulated issuance stack
Glo Foundation explored various options and geographies to bring a regulated stablecoin to market. Developing a new company to handle reserve management, issuance, and compliance was resource-intensive and beyond their budget.
Solution
Brale's regulated issuance stack enabled Glo to issue Glo Dollar with on and offramps, reserves management, and reporting built-in.
Outcome
By partnering with Brale, Glo successfully brought Glo Dollar to market quickly, supporting with its custom smart contracts, within budget.
Multi-chain implementation
To deploy Glo Dollar on multiple blockchains, the Glo team explored creating their own smart contract implementations for each chain. However, the costs to develop and audit custom contracts were prohibitive.
Solution
Brale supports the issuance of regulated stablecoins on 10+ blockchains leveraging audited token standards, and retains the ability for Glo to expand to new chains quickly.
Outcome
Glo Dollar was able to expand to 7 blockchains quickly, meeting the desires of their partners and community while maintaining security and adhering to best practices.
Time-to-market
GLO had done an incredible job building awareness in their own community about USDGLO. They had also built a consortium of supporters ready to purchase and support USDGLO.
Solution
Brale supports automatic listings of issued stablecoins, with built in onramps and offramps making USDGLO available to partners from day one.
Outcome
By partnering with Brale, Glo issued USDGLO with an onboarding portal, enabling partners to purchase the stablecoin without the delay of centralized exchange listings.
Fund public goods by holding a stablecoin
Features used
- Stablecoin issuance
- Exchange listing
- Partner onboarding
- Onramp / offramp
- Token management
- Reserve management
- Program pages
- Multi-chain gateway
- Teams
- Contract hosting
- MPC signing
- Program monitor
- Third-party reserve audits
Issue a regulated stablecoin