How Planner DAO pays for their daily operations with crypto
Planner DAO is a decentralized community owned by financial planners. The organization's mission is to "democratize access to wealth-building strategies around the globe" and promote economic sovereignty for individuals. Steve Larsen (CPA/CDAA) co-founded Planner DAO, when he identified a need for more accessible and affordable web3 education for aspiring entrepreneurs.
PlannerDAO is a crypto-native community. They receive funding through donations and sponsorships — and those payments are made in crypto. On top of that, most of their income is earned in crypto, which raises the ultimate question: how do they pay for day-to-day expenses in dollars?
Before coming to Multis, Steve had to convert the crypto to USD using his Coinbase personal account and send cash to the nonprofit's bank account. You might ask, "what's wrong with that setup?" Well, it's time-consuming and creates accounting and legal chaos. Steve said, "It is not a position I want to be in."
Multis conversion to USD feature
With PlannerDAO being crypto-funded, they store a large part of their assets on a Gnosis Safe non-custodial wallet. Safety is key. Multis being built on top of Gnosis made the implementation of Multis that much easier for Steve. Just a couple of clicks before he could plug in and use his newly converted USD.
Steve said, "Getting the USD accounts was the game changer because we had a lot of money in crypto, typically USDC. It's been very helpful to convert it all in one place and access USD in seconds."
Light-speed crypto banking onboarding
Opening a crypto bank account with Multis was much smoother and quicker than a traditional bank. Steve said, "opening the nonprofit account with Multis was much easier and smoother than opening a bank with my bank down the street."
Why easier? Multis onboarding is less than a day (vs. months at banks), the KYC form length is 10 minutes, and you have a Multis member with you at all steps. Everything is designed for the end-user and to make you forget the old banking processes.
Virtual web3 corporate cards
Debit cards are the endpoint of Steve's needs. A simple and unique flow, from off-ramping to spending, is a game changer. By doing so, PlannerDAO can pay vendors and subscriptions in minutes after converting funds to USD.
Additionally, he mentioned that Multis virtual cards were the perfect answer to his issue of providing means of payments for his remote team. You can read about it in our last article here.
The all-in-one crypto/fiat solution
Before getting on board with Multis, Steve had his funds spread across a local bank account, multiple Gnosis Safe wallets, and a personal exchange account. That meant a cumbersome process with the potential for human error, time lost, and an accounting nightmare.
With Multis, Steve found a solution where all of his assets are in the same place. Track wallets, convert to USD, spend by debit card, and manage incoming/outgoing wires. Talk about streamlining financial management. ;)
We're happy to have Planner DAO at Multis. It means a lot for us to help DAOs organize their finances and focus on business. Let's build together the future of finance!
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