Menlo Park, California; Vancouver, British Columbia; and Boulder, Colorado--(Newsfile Corp. - September 30, 2021) - Intellabridge Technology Corporation (CSE: INTL) ("Intellabridge") is pleased to announce the launch of a major industry initiative bridging the Ethereum and Terra blockchains together. Kash now offers customers the ability to deposit Ethereum-based US Dollar stablecoins into their Kash savings accounts and receive up to 16% interest.
With this new Ethereum gateway, Kash DeFi banking is now open to more than $33 Billion US Dollars of Ethereum stablecoins, including $27 Billion of USD Coin (USDC), founded by Coinbase and Circle, and $6 Billion of DAI founded by MakerDAO. Intellabridge also expects to be adding Binance USD (BUSD) and Tether (USDT), which opens Kash to an additional $12 Billion of BUSD and $65 Billion of Tether of stablecoin assets.
Providing customers with the ability to earn up to 16% interest on Ethereum-based stablecoins marks an important step forward for Intellabridge's strategy to give Ethereum customers the benefits of the Terra Ecosystem on the Kash platform.
"After several months of development, we're excited to launch this bridge and open the market for Ethereum customers," said John Eagleton, CEO of Intellabridge. "Our goal is to give people in the Ethereum ecosystem an easy way to deposit their stablecoins and earn one of the highest stable interest rates in the DeFi market."
To sign up for the Kash and begin earning interest on Ethereum and Terra stablecoins, visit www.kash.io.
About Intellabridge Technology Corporation
Intellabridge Technology Corporation (CSE: INTL) (OTCQB: CRBTF) (FSE: 98AA) 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 vaults, stablecoin checking, fiat-crypto exchange, synthetic stock, ETF and commodity trading, and other DeFi banking services, with plans to offer debit cards, virtual cards, Apple Pay and Google Pay.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
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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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