Mr. John Eagleton reports
INTELLABRIDGE ANNOUNCES COLLABORATION WITH PRIME TRUST TO ONRAMP US CUSTOMERS
Intellabridge Technology Corp. has collaborated with Prime Trust, a leading financial infrastructure provider, that will enable Intellabridge customers to on-ramp from U.S. dollars into decentralized finance (DeFi) and earn a 10-per-cent stable interest rate on their Kash savings accounts.
"We're proud to work with Prime Trust which offers best-in-class financial infrastructure for fintech and digital asset clients globally," said John Eagleton, chief executive officer at Intellabridge. "This collaboration opens up the remarkable returns seen in decentralized finance by offering customers an on-ramp that makes it easy to move assets from traditional financial institutions like Bank of America and Wells Fargo, and exchange to U.S. dollar stablecoins which can be deposited into Kash's high-earnings savings accounts."
In recent years, savers have had few reasonable options to store their wealth, and with the consumer price index surging to 7 per cent in December from a year ago, the highest rate in nearly 40 years, and the average savings account in the United States in October, 2021, at 0.06 per cent, according to Bankrate's survey of institutions, the result is a loss of purchasing power and deterioration of overall wealth for the American consumer.
"With Kash DeFi's 10-per-cent stable interest rate and cash deposits powered by Prime Trust, our financial solutions are making it easier for people to earn on their savings and protect themselves against inflation," added Mr. Eagleton.
"Intellabridge's latest initiative to modernize banking solutions for consumers is changing the future of finance," said Robert Desroches, head of sales and chief customer officer, Prime Trust. "At Prime Trust, we focus on top talent with extensive regulatory, security and financial services backgrounds, who will help Intellabridge to bring decentralized finance solutions to broader groups around the world."
Customers have the ability to take funds from their checking accounts and seamlessly transfer it into a high-yield, stable 10-per-cent earnings account through a decentralized finance system called the Terra Network. This $25-billion dollar ecosystem was created by a Stanford engineering graduate with investments from Coinbase Ventures, Galaxy Digital and Robinhood's chief executive officer.
To celebrate the new collaboration, all Intellabridge customers will receive up to 19-per-cent earnings rate on their Kash accounts for any deposits made in January and February, 2022.
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 DeFi interest-bearing savings accounts, stablecoin checking, fiat-crypto on-ramps, synthetic stock, exchange-traded fund 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.
About Prime Trust
Prime Trust is the one-stop shop for financial infrastructure for fintech and digital asset innovators. Its API (application programming interface platform and plug-and-play widgets allow companies to build seamlessly, launch quickly and scale securely. Prime Trust powers mission-critical infrastructure for many of the world's leading crypto exchanges, lending platforms, digital wallets, payment platforms, alternative trading systems, RIAs, wealth management platforms, broker-dealers and crowdfunding platforms.
Prime Trust's team has extensive regulatory and financial services backgrounds from the OCC, SEC, Federal Reserve, U.S. Department of Justice, U.S. Treasury/Secret Service, JPMorgan Chase, Green Dot, American Express, PNC, Bank of America and Visa.
We seek Safe Harbor.
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