Startup firm Salarium eyes USD50m through ICO

Salarium, a Philippine-based payment solutions startup, seeks to raise up to USD50m for its SALPay token through an initial coin offering (ICO). The ICO will provide a token utility for Salarium’s B2B customers to remit their payroll in the Philippines. Judah Hirsch, Salarium founder and CEO, said the company’s ICO will help bridge the gap between small and medium business process outsourcing companies, freelancers, and remittance firms in the Philippines. Founded in 2013, Salarium is a payroll and human resource software company. It provides businesses with a solution to improve their efficiency and accuracy in managing payroll through a self-service portal known as Salarium Payroll (SALPay).