Intellabridge Technology (CSE: KASH) (OTCQB: KASHF) announced today they were putting the final touches on its Kash 2.0 impact finance product to provide customers with options regarding savings, payments and investment options.
The company intends on integrating impact finance into financial transactions of each application model, be it Web3 savings, trading and investments to debit cards on the Mastercard network. Kash is expanding its customer toolset to help move beyond traditional philanthropy, while using web3 tech to help optimize the impact.
Additionally, impact finance is an investment strategy aiming to accelerate the just and sustainable transformation of the real economy.
“With the climate crisis and sustainability taking center stage in headline news, a growing number of consumers today expect more sustainable impact solutions, and innovation in the fintech sector is helping to unlock the potential of sustainable development and social impact,” according to John Eagleton, Intellabridge CEO.
The product comes with three modules: Kash payments, savings and investments.
The Kash payments module adds cashback solutions to traditional debit cards using Web3 integrations and fintech partnerships. These provide customers with favourable cashback rates while generating automated impact benefits. The company will introduce strategic partnerships over the next few weeks and months before the program launch in March 2023.
In contrast, the Kash savings model is based on the KASH USDC stablecoin. The coin’s design facilitates earning cashback on Circle’s stablecoins, and more specifically, USDC and Euro Coin. Normally, these processes involve the substantial hassle of transferring stablecoins through multiple decentralized money markets, but not with KASH 2.0. KASH USDC is also transferable like USDC and has full functionality with payments, remittance and other financial services.
Kash 2.0 offers cashback with a social impact twist
Holders of KASH USDC enjoy the option to automatically donate their cashback to charities and other organizations focused on the United Nations Sustainable Development Goals. These goals include ending poverty, protecting the planet, and facilitating peace and prosperity. They are also in line with the company’s values and vision.
“Most Americans want to do more to have an impact, but don’t know where to start. With Kash’s financial impact solutions, customers can integrate impact into everyday life, making environmental and sustainable action easy and automated with every financial transaction,” said Eagleton.
The Kash investments module is a decentralized exchange combining web3 self-custody wallets, an order book with exchange liquidity, customer support, social financial investment tools, and biometric security.
According to Eagleton, this is necessary because of the recent bankruptcies from centralized exchanges like FTX, Voyager, BlockFi and Celcius. Now people are waking up to the value of decentralized exchanges, which give users multiple advantages. These advantages include full control of their assets and Web3 options.
Even despite these advantages, mass market adoption has been lagging due to the steep learning curve and limited customer help. The investments module is designed to ease the pressures associated with the learning curve. It does this by giving users user-friendly applications that add elements like user custody, biometric security, realtime customer support and cashback on every transaction.
The company intends on launching an Alpha version in December 2022.