Menlo Park, California; Vancouver, British Columbia and Boulder, Colorado--(Newsfile Corp. - October 1, 2021) - Intellabridge Technology Corporation (CSE: INTL) ("Intellabridge") today launched Kash, a global neo-banking platform powered by decentralized finance, pushing the boundaries of what's possible in financial services.
Kash operates as a decentralized digital bank that brings secure financial blockchain solutions to the mainstream economy in a way that provides customers worldwide with financial independence, purchasing power, stability and security, setting a new standard for banking products and services.
Kash provides retail and business customers with financial solutions that include checking, savings, and investments as its core modules, and advanced technologies that innovatively enable real-time transaction settlement, improved accessibility, and lower fees compared to traditional financial products.
The Savings account is based on stablecoin currencies leveraging new DeFi money markets to provide a simple and secure way to save in US dollars and earn high-yield interest at a stable rate using Terra's best-in-class blockchain technology.
The Checking account is designed to offer customers a seamless payment experience with lower transaction fees and instant settlement based on stablecoin smart contract technology. The Company built this module for any type of peer-to-peer payment such as remittance and e-commerce markets, facilitated through stablecoin payments, leveraging DeFi payment rails to provide faster and more secure transactions at a fraction of the cost with powerful savings for customers.
The Investment account, built on Terra's Mirror protocol, which allows the creation of synthetic assets that track the price of real world assets, brings the world's assets to the blockchain including traditional financial assets such as stocks, bonds, indexes, and investment funds, as well as physical assets, such as real estate, commodities, precious metals, art, and other illiquid assets. The objective is to reduce friction between geographical boundaries and eliminate the costs associated with intermediaries, as well as to improve asset liquidity, efficiency and accessibility through fractional ownership.
Kash is built on Web3, the next generation internet, which is more decentralized, verifiable, and secure, and gives users ownership and power over their identity, data, and transactions. Web3 decentralizes control of the internet, combining decentralized internet networks, secure computing, and autonomous intelligent software. Kash securely links people and data with cryptographic verifiability, transaction processing, P2P connectivity and trustless interoperability.
The launch of Kash adds even more power and capability for customers, with multiple new features since its Beta version was first released in June 2021, including 2FA security, improved accessibility for customers making it easier to move assets into the Kash platform from traditional financial institutions and other decentralized ecosystems like Ethereum. These powerful new gateways and simplified user experience redefine the value proposition for customers and help to make Kash one of the fastest growing fintech DeFi companies, recording customer growth rates exceeding the Company's internal projections, with 22,000 customers and currently growing at a rate of more than 1,000 customers every day.
Based on valuable customer feedback and the Company's strategic objectives, Intellabridge is planning to include the following features in the product pipeline: affiliate and referral marketing programs, gift cards with major retailers, localizing the product with additional languages and local market stablecoins, integrating new value-added protocols from the Terra ecosystem, launching Kash Treasury for businesses, savings vaults for better financial management, insurance options for customer protection, index products, new asset on-ramps and exchange, all designed to combine the full suite of traditional banking products and services powered by decentralized finance to customers.
"I started my career in fintech and capital markets several decades ago with the idea to make the financial system transparent, fair, and universally accessible," explained Intellabridge CEO John Eagleton. "Today, I'm pleased to present Kash, a decentralized neo-banking platform built with the most advanced and consumer-oriented decentralized technologies. We are solving the problem of legacy banking built on payment rails which are slow and expensive. Neo-banks have done a good job of disrupting traditional banking by making the existing payment rails more efficient, but the best way to solve the legacy system is by replacing it with a better more secure technology which allows for payments at a fraction of the cost, features that encourage savings with high interest rates, and investment solutions accessible to anyone globally,"
To sign up for the Kash visit app.kash.io.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: INTL) (OTCQB: CRBTF) (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, 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.