Cashaa partners with Polygon to release DeFi solutions for masses
Cashaa for providing defi solutions for masses, has partnered with Polygon to reduce the Ethereum network fee, which hinders small transactions on the network, even though Ethereum has the best security.
Crypto-friendly neo-bank Cashaa has tied up with Polygon, which is a layer two solution on Ethereum-compatible blockchain. Together, they will enable users to move their CAS tokens from Binance Smart Chain to the Polygon network. In order to empower individuals to access the latest DeFi technologies and take control of their finances, Cashaa has started to roll out personal accounts across the globe, starting with India.
“Cashaa has been continuously scaling and now entering into giving personal accounts to increase the adoption of its CAS token, which requires cheaper transaction cost. Association with Polygon is another step towards the same,” said Kumar Gaurav, Founder and CEO of Cashaa.
The objective of this partnership is to reduce the network fee that’s becoming a bottleneck for small transactions on the Ethereum network thereby making defi solutions accessible to masses. However, Ethereum has also got the best security. To solve this dual problem of speed and security, Cashaa has partnered with Polygon. Cashaa will release a bridge allowing users to move their CAS tokens from the Binance Smart Chain to the Polygon network. Using the bridge, CAS holders will be able to gain access to Polygon’s growing DeFi ecosystem and use Polygon’s efficient full-stack scaling to minimize transaction fees while transacting with CAS.
CAS is Cashaa’s native coin. It offers speedy processing, cheaper international wire cost, discounted set-up fees, rebate in exchange, and transaction fees. CAS holders could also stake CAS on the Polygon network and earn up to 30% APR in MATIC and CAS tokens.
“I feel proud that Cashaa started its personal account release from India to help the crypto community. Cashaa recently moved some of its products to the Polygon network to decrease the transaction cost to serve the masses. Congratulations on the release,” said Sandeep Nailwal, Co-founder of Polygon.
Cashaa will also implement MATIC tokens in the following products:
- Cashaa Earn: With Cashaa Earn, you can up to 14% annual interest on deposits. Cashaa Earn will support numerous fiat currencies such as the US Dollar (USD), Indian Rupee (INR), EURO, and GBP, and crypto such as BTC, ETH, MATIC, USDT, etc.
- Cashaa Lend: Through Cashaa Lend, Cashaa has designed a loan solution of zero interest on cryptocurrency-collateralized fiat loans on Ether, Bitcoin, Cashaa, and Matic. With this, users can take out loans to purchase products from more than 2,000 partner retailers, including Apple, Amazon, Flipkart, or take Cash on cards like MasterCard or Visa, with zero interest due.