Number of Outstanding Listed Securities: 72,388,476
Intellabridge Technology Corporation is a fintech blockchain neo-bank that provides retail and institutional investors with access to decentralized financial applications with additional layers of cybersecurity, consumer protection, 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 October 1, 2021, Intellabridge announced that it had launched Kash, a global neo-banking platform powered by decentralized finance, pushing the boundaries of what's possible in financial services.
Kash operates as a decentralized digital bank that brings secure financial blockchain solutions to the mainstream economy in a way that provides customers worldwide with financial independence, purchasing power, stability, and security, setting a new standard for banking products and services.
Kash provides retail and business customers with financial solutions that include checking, savings, and investments as its core modules, and advanced technologies that innovatively enable real-time transaction settlement, improved accessibility, and lower fees compared to traditional financial products. The Savings account is based on stablecoin currencies leveraging new DeFi money markets to provide a simple and secure way to save in US dollars and earn high-yield interest at a stable rate using Terra's best-in-class blockchain technology.
The Checking account is designed to offer customers a seamless payment experience with lower transaction fees and instant settlement based on stablecoin smart contract technology. The Company built this module for any type of peer-to-peer payment such as remittance and e-commerce markets, facilitated through stablecoin payments, leveraging DeFi payment rails to provide faster and more secure transactions at a fraction of the cost with powerful savings for customers.
The Investment account, built on Terra's Mirror protocol, which allows the creation of synthetic assets that track the price of real-world assets, brings the world's assets to the blockchain including traditional financial assets such as stocks, bonds, indexes, and investment funds, as well as physical assets, such as real estate, commodities, precious metals, art, and other illiquid assets. The objective is to reduce friction between geographical boundaries and eliminate the costs associated with intermediaries, as well as to improve asset liquidity, efficiency, and accessibility through fractional ownership.
Kash is built on Web3, the next generation internet, which is more decentralized, verifiable, and secure, and gives users ownership and power over their identity, data, and transactions. Web3 decentralizes control of the internet, combining decentralized internet networks, secure computing, and autonomous intelligent software.
Kash securely links people and data with cryptographic verifiability, transaction processing, P2P connectivity, and trustless interoperability. The launch of Kash adds even more power and capability for customers, with multiple new features since its Beta version was first released in June 2021, including 2FA security, improved accessibility for customers making it easier to move assets into the Kash platform from traditional financial institutions and other decentralized ecosystems like Ethereum.
These powerful new gateways and simplified user experience redefine the value proposition for customers and help to make Kash one of the fastest-growing fintech DeFi companies, recording customer growth rates exceeding the Company's internal projections, with 22,000 customers and currently growing at a rate of more than 1,000 customers every day.
Based on valuable customer feedback and the Company's strategic objectives, Intellabridge is planning to include the following features in the product pipeline: affiliate and referral marketing programs, gift cards with major retailers, localizing the product with additional languages and local market stablecoins, integrating new value-added protocols from the Terra ecosystem, launching Kash Treasury for businesses, savings vaults for better financial management, insurance options for customer protection, index products, new asset on-ramps and exchange, all designed to combine the full suite of traditional banking products and services powered by decentralized finance to customers.
On October 14, 2021, Intellabridge shared an update on its Kash product progress, business developments, and release of its latest corporate presentation. Following the successful launch of Kash, with more than 32,000 customers and record customer growth rates, the Company is pleased to announce the release of Version 1.3 which includes feature enhancements and integration with Terra Station wallet, Terraform Labs' official web extension wallet, and the most widely adopted wallet in the Terra ecosystem.
The Terra Station integration makes it easy for customers holding assets on Terra Station to move assets into Kash at the click of a few buttons. The Company continues to further build out its product with the goal to create a hybrid banking platform that merges the best of decentralized financial solutions and the best of traditional neo-banking services, with fully integrated fiat bank accounts, debit cards, and a simple user experience.
The Company is rolling out the integrated neo-banking solution and fiat-to-stable coin onramps, on a country-by-country basis, over the next weeks and months. More country-specific information will be announced as those markets are fully operational.
Future versions of the product will give users even more flexibility in managing their own finances with hybrid spending, savings, and investment solutions and the ability to easily move assets between fiat and stablecoin markets. Kash is a hybrid digital bank aiming to provide customers with new financial opportunities powered by blockchain. It provides customers with financial solutions that include checking, savings, and investments as its core modules, and advanced technologies that enable real-time transactions, improved accessibility, and lower fees compared to traditional financial products. The Savings account is based on stablecoin currencies leveraging new DeFi money markets to provide a simple and secure way to save in US dollars and earn high-yield interest at a stable rate using Terra's blockchain technology.
On October 19, 2021, Intellabridge announced that it had retained Hybrid Financial Ltd. ("Hybrid") to provide marketing services to the Company. Hybrid has been ngaged to heighten market and brand awareness for Intellabridge and to broaden the company's reach within the investment community. Hybrid has agreed to comply with all applicable securities laws and the policies of the (CSE: INTL) (the "CSE"), (OTCQB: CRBTF) (FRA: 98AA) in providing the Services.
Hybrid has been engaged by the Company for an initial period of six months starting October 19, 2021 (the "Initial Term") and then shall be renewed automatically for successive three month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee for their services, plus applicable taxes, during the Initial Term.
On October 25, 2021, Intellabridge announced partnerships with LunaBulls and Terra Cards to create the first ever utility non-fungible tokens ("NFT") in the Terra ecosystem that provide NFT owners with utility value on the Kash DeFi platform.
According to Forbes, NFT sales topped $1.2 billion in July 2021. Notable venture capital firm, Loup Ventures, estimates the total market size of NFTs to be worth over $1 trillion with an expanded market beyond $2 trillion as part of the broader metaverse trend in the blockchain.
LunaBulls and Terra Cards are two of the first original NFT projects created on the Terra blockchain. Prior to this partnership, all NFT projects have been primarily representations of ownership in digital artwork; however, with this partnership, NFT owners hold distinctive benefits with utility value on the Kash DeFi platform.
LunaBulls has created more than 10,000 unique profile picture ("PFP") artworks whose ownership is recorded on the Terra blockchain. There are over 13,700 members on the LunaBulls Discord server, and with this partnership, Kash has already created a special edition Kash LunaBull NFT that will enable the holder to automatically receive lifetime Diamond status on the Kash platform. This NFT will go on sale during the week of October 25, 2021.
Terra Cards is a collection of 600 NFTs representing various projects within the Terra Ecosystem, Kash DeFi included. This NFT project was created in large part as a charity initiative, with half of all proceeds being donated via Angel Protocol. Owners of any Kash Terra Card NFT will receive lifetime gold status on the Kash DeFi platform, with higher savings rates, increased token rewards for savings activity, and higher cashback rates for debit card transactions.
On October 27, 2021, Intellabridge announced that it would change its ticker symbol on the Canadian Securities Exchange (CSE) from "INTL" to "KASH". The common shares began trading on the CSE under the new symbol "KASH" at the market open October 29, 2021. The change in the ticker symbol is being made to provide greater connectivity between the "Intellabridge" corporate brand and the "Kash" product of the Company.
Between October 14 and November 5th 2021, the number of customers has grown from 32,000 to 60,000.
On October 4, 2021, 620,000 common shares of the company were issued as a result of the exercise of stock options from an agreement dating to the 12th of March 2018, with a former consultant Vandana Ventures Inc. at an exercise price of $0.47 per issued share. The Company received $291,400 proceeds from the options exercise.
As of November 5 2021, the Company has no options outstanding.