LONDON, July 19, 2019 /PRNewswire/ — Cashaa, a UK-based banking services platform providing bank accounts to crypto businesses and other underbanked industries, moved its native CAS token from Ethereum to Binance chain. Crypto Business looking for banking services are now able to acquire CAS from Binance DEX, trading started yesterday at 12:00 BST.
Cashaa’s mission is to provide a hassle-free banking experience for the crypto community, especially businesses including STO-backed companies, IEOs, ICOs, exchanges, wallets, crypto brokers and any other business that has been underserved by traditional banks. In 2019, Cashaa launched its crypto-friendly business accounts and will expand to individual products in 2020.
“We will support all the companies that have already moved their tokens on Binance chain by providing free onboarding for banking services and 50% discounts on all our products and services.” CEO, Kumar Gaurav
Cashaa conducted a community voting where 99.2% CAS holders have voted in favour of a CAS SWAP from ERC20 to BEP2. Cashaa submitted a listing proposal to the Binance community and received support for the listing from all 11 Binance chain validators. Soon after, on 18th July 2019, CAS trading started on Binance DEX.
“Ethereum is not only getting slower, but there is also no control on asset issuance, which is attracting scam projects to create tokens and get listed on a number of crypto exchanges to wash trade to attract the general public with faked high volume tokens. We liked that Binance being a pioneer in the crypto industry used the power of decentralization also on the listing process through validators which work as a great filter for the projects. By comparing both the public chains, we decided that with CAS being one of only a few tokens that have value because of its utility, it’s time to separate us from the ERC20 token list.” Archit Aggarwal, Chief Product Officer.
CAS token is a crucial part of the Cashaa platform, which gives benefit to its holders such as staking, quarterly bonus, airdrops, paying transaction fees, card process services, discounts on exchange services, and many more. Business users using CAS on the platform can enjoy up to 50% discounts on onboarding fees and faster application processing, while personal users must have CAS tokens to get the experience of this new age bank.
Cashaa is known for its strict KYC policies; at the time of its token sale, Cashaa turned down 14.7 Million USD, due to participants not being able to comply with the AML & KYC policies of the company. Cashaa is glad to be part of the growing Binance ecosystem, moving to the Binance chain was a decision made based on its speed, security, and ease of use compared to Ethereum, as well as Binance’s long-standing good reputation and success in the industry.
For more information and the latest updates, visit help.cashaa.com.
For more information on Cashaa’s business accounts, visit here.
For more information on CAS token, visit here.