We’re excited to announce today that LytePay — the decentralized finance platform for the gig economy — has partnered with Simple Token, OST, to launch a branded cryptocurrency token for their growing economy.

LytePay’s current core service is invoice factoring for freelancers, such as online influencers and web designers. Lytepay is currently in closed beta and it has achieved initial validation, processing more than $400,000 in transactions over the last 3 months. LytePay hopes to build the industry-standard decentralized finance platform for the gig economy as freelancers are expected to make up more than 40% of the global workforce by 2020 and their needs are not being met by current financial institutions.

Over the next few months, OST and LytePay teams will partner closely to launch LytePay’s own branded token economy powered by OST, and then to rollout LytePay services to freelancers globally.