Cashaa appears to be making progress in its bid to create a better bank capable of challenging the traditional banking system. The money transfer services provider has inked a partnership with Boon Tech paving the way for it to become a preferred means of transferring funds in the blockchain based no-fee freelance marketplace.
Cashaa-Boon Tech Integration
Boon Tech users will be able to utilize Cashaa resources to make payments as the blockchain platform integrates Cashaa exchange, money transfer services as well as Cashaa Wallet. The Cashaa platform will allow people in the freelance marketplace to send and receive money and be able to pay for various Boon Tech services.
The partnership presents a unique opportunity for Cashaa to gain millions of users given that Boon Tech is a popular freelance marketplace where people from all walks of life congregate. The payment system has already started working on a unique digital wallet that it says will revolutionize legacy banking.
CAS Token Distribution
The proposed Cashaa wallet system will allow users to save, spend borrow and get insured all from one platform. CAS Tokens which is the native token to the Cashaa network will power the platform. The firm is fresh from closing a token distribution where it raised $33 million from more than 53,381 people.
The company also claims to have rejected $14.77 million due it strict internal anti-money laundering and KYC policies. Plans are already underway to launch the banking wallet in the last quarter of 2018, to be powered by the CAS tokens.
Cashaa is planning to power financial products for the banked and unbanked population through its digital and transparent services. The firm is also planning to deliver financial inclusion to the 2.5 billion unbanked and 1 billion under-banked people globally, in a bid to create a unique cross-border platform that can serve everyone.
The company currently supports a good number of currencies not limited to USD, GBP, INR, and EUR as well as cryptocurrencies.
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