Asset Mantle's Crypto Payments with Gloroots

About

AssetMantle is a decentralized NFT marketplace that empowers creators to mint and sell NFTs with zero friction. We aim to establish a framework for NFT marketplaces that offers all the necessary elements for creating individual marketplaces.

Challenge

AssetMantle’s faced high costs when conducting over-the-counter (OTC) crypto transactions. Moreover, when working with OTC transactions, there is a minimum tranche (transaction) limit that Asset Mantle has to adhere to in many cases. 

This method was not financially feasible, so AssetMantle turned to EORs to facilitate these transactions. The company believed that an EOR could serve as a perfect intermediary. However, AssetMantle’s expectations fell flat when it approached its first EOR partner.

Solution

AssetMantle joined hands with Gloroots in July 2023. After scoping out their problems, Gloroots identified that its contractor management and crypto payment feature is what Asset Mantle needs to pay contractors seamlessly and reduce transaction costs. 

Gloroots' SaaS-based EOR platform helps Asset Mantle compliantly onboard and pay contractors in crypto on time. Gloroots’ flare fee meant that Asset Mantle paid a fixed amount regardless of the number of transactions. Gloroots also helped the company avoid any hidden costs as well. And unlike its previous EOR partner, Asset Mantle received timely support from Gloroots for all its queries.

Results

Asset Mantle was able to streamline its crypto payments and decrease its transaction costs by 80%. This was mainly because other OTCs had a minimum cap and levied a 5% conversion rate on each transaction. Gloroots’ EOR solution ensure that Asset Mantle can make crypto transactions without adhering to any minimum cap.

Why Gloroots

Asset Mantle chose Gloroots for its compliance advantage, flat fees without hidden charges, and excellent customer support, all of which contribute to seamless crypto payrolling. Gloroots’s compliance with modern security standards ensured all transactions are compliant with regulatory requirements.