01:07:11 EDT Tue 21 Mar 2023
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or Name

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Intellabridge Technology Corp
Symbol KASH
Shares Issued 261,222,157
Close 2021-11-23 C$ 0.85
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Intellabridge launches Kash Decentralized Exchange

2021-11-23 14:53 ET - News Release

Mr. John Eagleton reports


Intellabridge Technology Corp. has launched 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 decentralized finance ecosystem with more than $546-billion (U.S.) of assets, to exchange to terra UST and access the growing terra ecosystem. With UST on Kash, customers can get greater-than-10-per-cent earnings on their savings accounts, faster global payments and a 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 UST 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, chief executive officer 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 Corp.

Intellabridge Technology 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 decentralized finance interest-bearing savings accounts, stablecoin checking, fiat-crypto on-ramps, synthetic stocks, exchange-traded funds and commodity investing, and other decentralized finance banking services, with plans to offer debit cards, virtual cards, Apple Pay and Google Pay in a growing number of markets globally.

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