Cashaa is an Ethereum-based banking platform powered by the technology of Auxledger. It offers an exchange and money transfer services between fiat and cryptocurrencies. financial technology combined with fiat will enable real-time, peer-to-peer value exchange and payment services across all the Blockchain. The integrated Cashaa's wallet system enables its community to save, spend, borrow and get insured, with a simplified user experience in a legally compliant way.
The global financial crisis revealed significant weaknesses in the existing financial system and some of the vulnerabilities already showed their impact on the interconnected global market. The world economy is still struggling with slow growth rate today . Transferring money for remittance, money lending across international borders is still very complicated, time consuming and expensive . Existing systems running on traditional banking channels are slow and full of intermediaries, higher exchange rates, counter-party risks, bureaucracy and extensive paperwork . More than 3.5 billion people are still unbanked or underbanked and have few opportunities to have a safe and secure way to participate in the global economy. On-boarding this missing population to the benefits of the global financial system is key in order to provide a sustainable solution for their future economic outlook. However, it turns out that consumers and businesses are struggling to leverage the benefits of the Blockchain infrastructure due to poor usability, non customer centric approach and improper legal implementation. Cashaa built its infrastructure on the blockchain and utilizes artificial intelligence to power mainstream adoption for financial products. It empowers the banked and unbanked population, facilitates low cost currency exchanges, enables participation in the global economy and develops the new outlook for this community by using open architecture. Instead of rebuilding or riding on the rails of archaic banking infrastructure, we built Cashaa to allow consumer adoption of cryptocurrencies, which let people move money as they wish at low cost and high speed, without having to understand the technical details of crypto and blockchain technology, thereby making it user friendly, secure, and affordable.