Cashaa, London based startup in finance creating services to make cryptocurrency transfer easier. If the cryptocurrency volatility commonly becomes a problem for user or merchant to use it, Cashaa takes the opportunity from it.
Since Cashaa founded in 2016, the platform has works to connect its remittance user to be able to make a transaction from bitcoin into fiat money. The opportunity to using cryptocurrency volatility as the benefit for the platform, Cashaa was connecting between remittances with the traders.
In these way, Chashaa will open new area where the traders or remittance users would also able to takes the benefit by using the platform. The remittance users able to execute bitcoin into fiat, while the traders also able to make a profit by filling an order book.
Cashaa see the bitcoin prices that tend to be higher at the market, so it makes the possibility the Cashaa system will able to run. Kumar Gaurav, Cashaa’s CEO convinced that the bitcoin prices between UK market, Indian, and Nigerian were different. Kumar said in Coindesk, that he consistently see about 3—4% spread between UK and India bitcoin market, and about 8-11% between UK and Nigeria.
“We are able to split this profit between the two traders, and also keep some of the profits for Cashaa. If the spread is higher, we are able to split this with the receiver as well, which means the recipient in India or Nigeria gets more money than indicated by the market rate.”
Cashaa divided the system into two major point. The first thing is by using Cashaa as the traditional remittance services, and the second is by creating its traders market from the remittances orders.
Comparing with the traditional remittance Cashaa was offering cheaper remittances. There will be no fees for sending money, the platform will only charges £1 as the guarantee for a fixed exchange rate. There are a lot of remittance companies that also using bitcoin, but it will be much different with the new opportunity by Cashaa platform and its features.
By using the platform, users were able to processing cash payment, able to process all payment even if the users or receiver have not to interact with bitcoin, able to made an investments with Cashaa products, and open API integeration. To gain more power into the platform services, Chashaa will also build a working partner with remittance agents.
Inside the platform, there are several products able to use, wallets, Physical & virtual cards, Micro Lending, peer-to-peer exchange, and peer-to-peer insurance in the future. At their Cashaa beta tested platform, it’s already having 12,770 beta users across 141 countries to test the transaction about $10million. Five biggest countries in their beta adoption are UK, Nigeria, India, Indonesia, and Philippines.
Cashaa Token Crowdsale Detail
Token Name: Cashaa token
Token Symbol: CAS
Token Base: Ethereum EIP20
Token Pre-sale: October 20 – 30, 2017
Token Sale Start: November 6, 2017
Token Sale End: December 5, 2017
Hardcap: 32,000,000 USD
Price: 1 CAS = 0.10 USD
Website – Whitepaper – Announcement
(User UID: ICO Magazine)