Menlo Park, California; Vancouver, British Columbia; and Boulder, Colorado--(Newsfile Corp. - July 15, 2021) - Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA) (the "Company"), a blockchain technology company, is pleased to announce that the Company plans to launch Kash Corporate Treasury Accounts for businesses and institutional investors.
The Kash Treasury Accounts are designed to provide businesses and institutions with high-interest and fixed rate Certificates of Deposit (CD) based on blockchain decentralized financial markets. The Kash Treasury CDs will be one of the first products on the market allowing customers to earn a stable 10% earnings on deposits, and provide an alternative solution to the current low-interest rate CD market.
According to a S&P Global Market Intelligence report on the US market on June 29, 2021, "The concentration of CDs and borrowings on bank balance sheets both continue to reach new record lows. Over the last three quarters, banks' holdings of CDs have declined by more than $400 billion. The lackluster loan growth and low interest rates have pushed net interest margins to record lows."
"With the CD market balances hitting record lows of $1.42 trillion USD, we believe we can provide a good alternative interest rate market for CDs," said John Eagleton, Intellabridge CEO.
Intellabridge is also aiming to solve the problem of operational complexities for Treasury customers with automated US Dollar to stablecoin conversions, private-key management, enhanced cybersecurity, customer service, and traditional banking integration capabilities.
"We believe that we can bring DeFi to the institutional market with concierge-level customer service and security mechanisms not available in any pure decentralized financial protocol. We plan to be the institutional gateway to decentralized finance," explains John Eagleton.
Intellabridge is intending to roll-out Kash Treasury starting in late Q3 2021. Features of the Kash Treasury program will be introduced to beta testers throughout the rest of 2021.
Interested businesses, corporates, fund managers, family offices, and other institutional investors can contact email@example.com to receive an invitation to the beta program. More information about the complete Kash Treasury benefits can be found through the company's Kash Treasury website located at treasury.kash.io.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA) is a fintech blockchain neo-bank that provides retail and institutional investors with access to decentralized financial applications with additional layers of cybersecurity to provide consumer protection and customer service and ensure educational understanding of decentralized finance and support. Intellabridge offers depositors self-custody services to empower them with complete transparency and control over their accounts through its institutional-grade platform. The Kash product features DeFi interest-bearing savings vaults, stablecoin checking, fiat-crypto exchange, synthetic stock, ETF and commodity trading, and other DeFi banking services, with plans to offer debit cards, virtual cards, Apple Pay and Google Pay.
The Kash platform is currently in private Beta and available on web and mobile for customers on the waitlist. For more information on Kash visit www.kash.io. To get on the waitlist for Kash, sign up for a Kash account at app.kash.io. For more information on Intellabridge, visit www.intellabridge.com.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
John Eagleton, CEO
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This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.