Cashaa has introduced the launch of its retail pockets, offering a groundbreaking crypto different to conventional financial institution accounts. This progressive pockets presents complete banking options, together with shopping for, storing, spending, incomes, and even taking out loans utilizing cryptocurrencies. The Cashaa pockets might be out there to customers in over 200 nations, with Fiat assist in 7 key markets: Europe (EUR), India (INR), Turkey (TRY), United Arab Emirates (AED), Indonesia (IDR), Kenya (KES), and South Africa (ZAR). In these nations, customers can buy crypto with their native currencies.
This launch is a part of Cashaa’s broader strategic shift, which incorporates discontinuing banking providers for crypto and different high-risk companies. As of Could 30, 2024, Cashaa ceased providing US Greenback and Euro IBAN enterprise banking accounts and stopped accepting new enterprise prospects for banking providers earlier within the yr.
This pivot signifies a brand new course for Cashaa, emphasizing its dedication to the retail section and remarkably boosting the adoption of Cashaa’s native token, CAS. In a powerful present of assist for the CAS ecosystem, Cashaa has procured 100 million CAS tokens from the market to bolster this enlargement. The CAS Token presents a singular alternative for people to take part in a monetary revolution. By holding CAS tokens, customers can profit from Cashaa’s increasing ecosystem. With a totally diluted market cap of $3.59 million, a complete provide of 1 billion CAS, a 24-hour quantity exceeding $123,814.39, and a token price of $0.00359, the CAS token is an integral a part of Cashaa’s loyalty program.
The CAS loyalty program presents customers varied advantages based mostly on the quantity of CAS tokens they maintain, categorizing them into 4 tiers—Base, Silver, Gold, and Diamond—every with incremental benefits. CAS token holders can earn up to 34% APR on fixed-term deposits, borrow funds at rates of interest ranging from 0%, and luxuriate in larger yields and decrease borrow charges by growing their loyalty tier.
Moreover, customers can obtain up to 5 free withdrawals monthly by staking extra CAS tokens, cancel fixed-term deposits prematurely if they’re Diamond or Gold members, and profit from discounted platform charges. Customers may earn CAS tokens by staking their present tokens for up to fifteen% APR or opting to obtain their curiosity in CAS token. The tokens might be bought straight via the Cashaa app on the Google Play Retailer or from supported third-party exchanges, offering quick access to this helpful asset.
According to this new imaginative and prescient, Kumar Gaurav has stepped down as CEO, with former Chief Expertise Officer (CTO) Amjad Raza Khan taking up as the brand new CEO. Reflecting on Cashaa’s new course, Mr. Khan acknowledged, “Following a comprehensive assessment of our historical strengths and the enduring trust we have cultivated within the industry, we have made the decision to implement several strategic changes to Cashaa’s business model. Our foremost objective is to expand the Cashaa brand’s reach to the anticipated influx of millions of new users during the forthcoming bull market phase. In alignment with this vision, we are finalizing regulatory, product, and corporate restructuring initiatives aimed at fostering the growth of the CAS token and its associated ecosystem throughout the new retail segment.
“CAS will be a game-changer, driving financial inclusion and empowering users globally. It will provide unparalleled access to financial services for the unbanked and underbanked populations, bridging the gap between traditional finance and the digital economy. Our goal is to democratize financial services, making them accessible, affordable, and secure for everyone, regardless of their geographic location or economic status” he added.
The Cashaa Beta wallet, tested by over 3,000 users in the past six months, has paved the way for this launch. Existing business customers, including crypto exchanges, blockchain development companies, and other wallet providers, participated in the Beta testing, utilizing its yield and lending services. Cashaa aims to extend the same level of trust and security it has provided to hundreds of crypto companies to millions of retail users.
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