Blockchain
Intellabridge Announces Work on Kash DeFi Bank
Vancouver, British Columbia and Boulder, Colorado–(Newsfile Corp. – February 11, 2021) – Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA), a blockchain technology company, is pleased to announce that the Company is designing and developing a global DeFi bank called “Kash”, which will be built on DeFi and Web3 networks. The Company’s Kash product is expected to provide customers with financial solutions that include savings, investments and payments as its core modules.
Kash is expected to function as a decentralized and autonomous 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. The Kash solution is being developed to provide real-time processing, improved accessibility, and lower fees compared to traditional financial products in international markets.
The Savings module will be based on a DeFi stablecoin with a view to solving the inflation problem for more than one billion people worldwide, with a simple and secure way to save in dollars and earn interest at rates above inflation using best-in-class DeFi protocols like Compound, Aave, and Yearn Finance.
“From Argentina to Zimbabwe, billions of people worldwide suffer from high inflation which erodes their purchasing power and creates an inflation tax. Our mission is to make it easy for people to have the financial freedom of an interest-bearing stablecoin, and the power to decide how to save, invest and spend with decentralized cash,” explains Intellabridge CEO, John Eagleton.
The goal of the Investment module, in partnership with key strategic relationships, is to bring the world’s assets to the blockchain. This would include traditional financial assets such as stocks, bonds, 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. “We are particularly focused on providing customers in international markets with improved access to investment opportunities globally,” said Intellabridge Chief Operating Officer, Maria Eagleton.
The Payments module is expected to offer customers a seamless payment experience with lower transaction fees and instant settlement based on blockchain technology. The Company is working to design this module for any type of P2P transfer such as remittance and e-commerce markets, working with partners to facilitate payments using the Kash stablecoin. The goal is to leverage DeFi payment rails to provide faster and more secure transactions at a fraction of the cost with powerful savings for customers and merchants.
The Company is building 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. Intellabridge is building the Kash technology as a decentralized bank, to securely link people and data with cryptographic verifiability, transaction processing, P2P connectivity and trustless interoperability.
“Today’s most-used internet platforms are controlled by only a handful of powerful companies, which profit from the data users generate. Web3 is essentially a new way for individuals to use the internet without giving up their privacy and valuable data,” explains John Eagleton, Intellabridge CEO. “We are very pleased to be working with DeFi and Web3 partners and protocols, to help expand the ecosystem and bring financial solutions to people worldwide.”
The Company is planning to deliver the alpha version of the application in March 2021. The objective of the alpha version is to pilot and process transactions in advance of a fully audited and security tested live release in Q2 2021.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA) is a venture builder investing in blockchain technologies with a focus on fintech and decentralized financial (“DeFi”) solutions. For more information, visit www.intellabridge.com.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
“John Eagleton”
John Eagleton, CEO
To contact Intellabridge:
Website: intellabridge.com
Phone: +1-303-800-5333
Email: [email protected]
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74266
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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