Intellabridge Announces Collaboration with Prime Trust to Onramp US Customers
Menlo Park, California and Vancouver, British Columbia--(Newsfile Corp. - January 18, 2022) - Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH) ("Intellabridge") is pleased to announce a collaboration with Prime Trust, a leading financial infrastructure provider, that will enable Intellabridge customers to on-ramp from US Dollars into decentralized finance (DeFi) and earn a 10% 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 USD 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 7.0% 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%, 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% 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 John Eagleton.
"Intellabridge's latest initiative to modernize banking solutions for consumers is changing the future of finance," said Robert Desroches, Head of Sales & 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% 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% earnings rate on their Kash accounts for any deposits made in January and February 2022. To learn more about Intellebridge visit www.intellabridge.com. To sign up for a Kash account, please visit kash.io.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: KASH) (OTCQB: KASHF) (FSE: KASH.F) 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, ETF 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.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
About Prime Trust:
Prime Trust is the one-stop shop for financial infrastructure for fintech and digital asset innovators. Our API 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, ATS's, 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, US Department of Justice, US Treasury/Secret Service, JPMorgan Chase, Green Dot, American Express, PNC, Bank of America, and Visa. For more information, visit www.primetrust.com.
Prime Trust contact:
The CSE does not accept responsibility for the adequacy or accuracy of this release.
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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