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Intellabridge Technology Corporation: Kash Product Update

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Vancouver, British Columbia and Boulder, Colorado–(Newsfile Corp. – May 10, 2021) – Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA), a blockchain technology company, is pleased to announce that the Company is on track to release the Beta version of its Kash blockchain banking application in June 2021.

The Company’s product release in June will be a private beta open by invite only to the first customer signups on the waitlist. The private-beta will open in stages up to the first 100,000 waitlisted customers by Q3 2021, in order to manage customer onboarding and growth. During the current Alpha period, prior to the launch in June, the Company continues to work on new features, partner integrations, white-label business development, testing and quality control.

Due to customer demand for a debit-card linked to Kash accounts, the Company is planning to provide eligible customers on the waitlist with virtual cards on Apple Pay and Google Pay in Q3 ahead of planned delivery of physical cards in Q4 2021.

“We are very happy with the results since our Alpha launch in March with positive customer feedback and higher than expected engagement rates with more than 30% of the visitors to our website signing up for Kash accounts,” explains John Eagleton, CEO of Intellabridge. “We are currently on track to meet our development and growth projections, especially with the launch of our Corporate Partners white-label program partnering with companies which already have an existing customer base and strategic positioning in local markets.”

The Company has also updated the corporate website and presentation at www.intellabridge.com and the product website at www.kash.io.

About Intellabridge Technology Corporation

Intellabridge Technology Corporation (CSE: INTL) (OTC Pink: CRBTF) (FSE: 98AA) is a fintech blockchain company that offers decentralized banking services (DeFi banking). Its “Kash” banking product is a blockchain bank, currently in Alpha testing period, with accounts featuring DeFi interest-bearing savings vaults, stablecoin checking, fiat-crypto onramps, debit cards, virtual cards, Apple Pay, Google Pay, synthetic stock, ETF and commodity trading, and other DeFi banking services.

The Kash platform is focused on growth in high inflation emerging market countries where there exists the highest demand for USD stablecoins and DeFi banking solutions. The current Alpha version of the product is available on web and mobile in testing phase with the objective to pilot and process transactions in advance of a fully audited and security tested private beta release in Q2 2021 and public release in Q3 2021. For access to the Kash Alpha version visit www.kash.io and for more information on Intellabridge, visit www.intellabridge.com. To get on the waitlist for the Kash PLSA, sign up for a Kash account at app.kash.io.

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/83475

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

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THXLAB and IZUTSUYA Announce Strategic Partnership

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OZANK Joins Forces with RevoluGROUP to Enhance Global Payment Infrastructure

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Blockchain

Financial industry bodies defend permissionless blockchains against Basel Committee’s classification

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Five financial industry bodies have pushed back against the treatment of permissionless blockchains by a global banking supervision authority.

In December, the Basel Committee on Banking Supervision (BCBS) published a report on proposed amendments to bank capital requirements for digital assets, stablecoins, and tokenized assets.

The report classified all permissionless blockchains as high-risk, claiming that some risks could not be mitigated through existing solutions. BCBS was particularly concerned about banks’ lack of control over third parties who conduct most operations on these blockchains. It also warned about their privacy, finality, liquidity, and political, legal, and policy risks.

In response, five global financial industry regulators have defended permissionless blockchains. In a joint response, they stated that the industry “has all necessary expertise and robust compliance frameworks to fully identify, manage and mitigate these risks.”

The five are the International Swaps and Derivatives Association, the Global Financial Markets Association, the Institute of International Finance, the Futures Industry Association, and the Financial Services Forum.

Blockchain’s application in the financial industry is evolving, and regulators must not disincentivize banks from exploring the technology, the regulators stated. By putting up unnecessary hurdles, the BCBS would only push these institutions to the non-regulated shadow banking space, which would be riskier for them.

The regulators further noted that dozens of global banks have conducted successful pilots using permissionless blockchains. These pilots have shed more light on the technology’s application and allowed them to understand and control emergent risks.

The BCBS approach is unfair to blockchain and veers away from the regulator’s long-held “same asset, same risk” approach, they added.

“While we acknowledge that risk mitigation techniques are evolving for permissionless crypto assets…we are confident that solutions already exist in respect of specific use cases,” the five stated.

They believe deciding whether to build on permissionless blockchains should be left to the banks.

The financial sector has been a leader in blockchain adoption, with some, like JPMorgan (NASDAQ: JPM), developing their own permissioned networks, albeit unsuccessfully. However, most have relied on existing solutions to build applications spanning settlement, bond issuance, tokenization, etc.

Source: coingeek.com

The post Financial industry bodies defend permissionless blockchains against Basel Committee’s classification appeared first on HIPTHER Alerts.

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