Intellabridge, one of the first Terra-based projects funded by Terraform Capital, has released the alpha version of its easy-to-use Kash app, which enables users in emerging markets around the world to make payments, save, and invest.
Vancouver, British Columbia and Boulder, Colorado – (Newsfile Corp. – March 31, 2021) – Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA), an emerging fintech blockchain company, has announced the launch of the alpha version of Kash – a decentralized mobile banking app that brings secure financial blockchain products to the mainstream economy.
Kash was developed in partnership with Terra, the public blockchain network that employs a series of fiat-pegged algorithms for stable coins, as one of the first projects funded by Terraform Capital – the strategic investment arm of Terraform Labs. Kash’s unique design will accelerate market access to investment, payment and savings primitives sourced from the decentralized finance (DeFi) market, which has reached a staggering $ 82 billion (TVL) value since early 2020 .
“We are extremely excited to join the Terra ecosystem with its line of stable coins and protocols, Anchor and Mirror, which are very exciting opportunities for the fintech sector. Our integration with Terra allows anyone to use Terra’s resources and applications in simple user experience and is an important step forward in solving problems of high inflation and exorbitant transfer fees and processing times, “said John Eagleton, CEO of Intellabridge. “As Terra’s infrastructure continues to evolve with new features across multiple protocols, we look forward to working together to bring Terra’s applications to the mass market.”
Primarily focused on targeting users in emerging markets, Kash has integrated the entire suite of Terra Stablecoins and protocols into one seamless banking application to provide users with savings, verification and investment applications. In particular, Kash offers unrestricted access to the Mirror Protocol, a synthetic asset protocol, and Anchor, a stable, high-yield (20% APY) savings protocol, both of which are Terra-based.
The story goes on
Through Kash, users in inflation-prone regions like Argentina, Lebanon and Turkey can use Anchor to access high-yield savings accounts denominated in Terra’s USD-pegged stablecoin UST. Additionally, Mirror enables users in financially disenfranchised regions to participate in wealth creation in key markets such as ETFs and major U.S. tech stocks that were previously banned, without censorship or onerous fee structures.
Intellabridge’s integration with Terra is based on a shared vision to solve the problem of high inflation for more than a billion people worldwide. Strengthening financial freedom through interest-bearing stable coins (which are easily transferable and interchangeable) requires a user experience (UX) that is conducive to mass adoption. Kash’s intuitive design offers customers financial independence, purchasing power, stability, and security with the underlying features taken from Terra’s DeFi ecosystem.
“We are excited to support Intellabridge’s Kash app as a means of mass adoption of stablecoins by delivering high-yield savings, global payments and accessible investments through the Terra Network,” said Do Kwon, co-founder and CEO of Terraform Labs. “Easy-to-use apps like Kash can serve as a gateway to the burgeoning DeFi ecosystem – an inclusive and powerful financial instruments market for a global group of users facing economic pressures and financial challenges.”
Kash gives customers the power to choose how to save, invest, send and spend at a fraction of the cost – with instant execution and improved accessibility compared to traditional financial markets. Kash’s Open Alpha is live on testnet today, with the mainnet expected to launch in the second quarter. In the future, Terraform Capital will provide various resources and capital to support the Kash product and give Kash users wider access to the Terra ecosystem.
About Terra
Terra is a Tendermint-based public PoS blockchain network based on the Cosmos SDK. Terra is the first and most successful algorithmic stablecoin network in which Terra’s native asset, LUNA, collateralises a range of fiat pegged stablecoins that can be exchanged in a multi fiat forex market that integrates with the network protocol is. The demand for applications built on top of the Terra blockchain, such as the Chai payment app with 2 million active users, the synthetic assets protocol Mirror with more than $ 800 million in TVL, and now the popular budget vehicle Anchor, are underpinning the demand according to Terra stable coins. As the demand for Terra’s stable coins increases across its applications, LUNA stakers are capturing the value of the network in swap fees, transaction fees, and a reduced supply of LUNA tokens.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation is a fintech blockchain technology company owned by Kash, the decentralized financial application. The current alpha version of the product is available in the test phase on the Internet and on mobile devices, with the aim of controlling and processing transactions before a fully tested and security-tested live version in the second quarter of 2021. Access to the Kash Alpha version can be found at www.kash.io and more information about Intellabridge can be found at www.intellabridge.com.
ON BEHALF OF THE MANAGEMENT BOARD
INTELLABRIDGE TECHNOLOGY CORPORATION
“John Eagleton”
John Eagleton, CEO
How to contact Intellabridge:
Website: intellabridge.com
Phone: + 1-303-800-5333
Email: maria@intellabridge.com
The CSE assumes no responsibility for the adequacy or accuracy of this version.
Forward-Looking Statements
This press release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, “forward-looking statements”). The use of the word “will” and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated in such forward-looking statements. You should not place undue reliance on such forward-looking statements. Actual results could differ from the information provided here due to numerous known and unknown risks and uncertainties as well as other factors. The company believes that the expectations contained in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The company undertakes no obligation to update these forward-looking statements unless required by law.
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The source version of this press release can be found at https://www.newsfilecorp.com/release/79066
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