Menlo Park, California, Vancouver, British Columbia, and Boulder, Colorado--(Newsfile Corp. - November 23, 2021) - Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: 98AA) ("Intellabridge") is pleased to announce the launch of the Kash Decentralized Exchange (DEX) for Ethereum and Terra assets as a major industry initiative bridging the Ethereum and Terra ecosystems and making decentralized finance more accessible to customers globally.
With the launch of the decentralized exchange, Kash allows users of Ethereum, the largest DeFi ecosystem with more than $546 Billion US dollars of assets to exchange to Terra UST and access the growing Terra ecosystem. With UST on Kash, customers can get more than 10% earnings on their savings accounts, faster global payments and lower cost on cross-border remittance.
The Kash exchange product marks an important step forward for Intellabridge's strategy as the gateway to decentralized finance. Initially Kash offers the ability to exchange between Ether, DAI, USDC and Terra UST but will be adding additional tokens over the next few months. Using this exchange, for example, customers will be able to withdraw USDC and Dai from all the leading global exchanges and swap them to native UST. Additionally, a user will be able to unwrap wUST from exchanges to its native UST counterpart through the Kash Decentralized Exchange.
"After several months of development, we're excited to launch this exchange and open the market for Ethereum customers as part of a broader Ethereum integration," said John Eagleton, CEO of Intellabridge. "Our strategic goal continues to give customers in the Ethereum ecosystem an easy way to access the benefits of the Terra ecosystem through Kash."
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: 98AA) is a digital bank based on blockchain technologies that provides retail and institutional investors with access to decentralized financial applications with additional layers of cybersecurity and customer service. 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 accounts, stablecoin checking, fiat-crypto on-ramps, synthetic stock, ETF and commodity investing, and other DeFi banking services, with plans to offer debit cards, virtual cards, Apple Pay, Google Pay in a growing number of markets globally.
ON BEHALF OF THE BOARD of DIRECTORS INTELLABRIDGE TECHNOLOGY CORPORATION "Maria Eagleton" Maria Eagleton, COO
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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.