Cashaa exploits blockchain technology to provide effective banking solutions to the world. It aims to transform the way remittances and money transfer happens across different countries. The company launched its CAS tokens on November 6, to build blockchain based banking platform which is more inclusive, effective, and safe. The CAS tokens will be used to access financial products for international payment transfer, money lending, prepaid cards, and insurances. This platform will allow banks and other financial institutions to cater their customers with better banking products and services.
Kumar Gaurav led Cashaa, is listed amongst the top 100 most influential blockchain companies in the world. He founded Cashaa with a vision to improve the international money transfer. Currently, the cross-border money transfer is complicated, expensive, and time-consuming. It also involves a lot of intermediaries and extensive paperwork which further contributes to the delay.
Cashaa – Next generation banking solution provider
Cashaa is trying to harness the power of cryptocurrency to enable fast, secure, and inexpensive international money transfer. It is developing a blockchain platform based on cryptocoins, without requiring the end users to know about cryptocoins and its technicalities. The remittances occur such that there is not actual transfer of either money or cryptocoins. The money transfer is honoured by the financial intermediaries involved in cross-border transaction. The end user need not to know about the current cryptocoin rates, exchange rate fluctuations, etc. This will increase the adoption of banking products and services as well as bring a million more into the financial mainstream.
Already owns a remittance product
Cashaa already has a proven market product for remittances for India, England, Nigeria, and Indonesia. It also functions as a digital wallet and an exchange for cryptocurrency. The funds raised through token generation event will help company to get remittance licenses in several other countries. The firm plans to initiate its service offerings through remittances and then extending it to cross-border investments and lending services in the due course.
CAS token is an EIP-20 (former ERC-20) token on the Ethereum blockchain. Cashaa plans to sell 510 Million CAS Tokens. The minimum requirement for its banking wallet launch is 2.5 million USD. Failing to raise this threshold, the firm will return all the collected funds. The CAS token is priced at $0.1 excluding any discounts. The launch event accepts ETH, BTC, USD, GBP & EUR to buy CAS tokens where 1 USD= 10 Cashaa Tokens, 1 GBP= 13 Cashaa Tokens & EUR= 11 Cashaa Tokens. The minimum amount to participate is $30.
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