Chainlink has a market cap of 12 Billion USD—open-source, and decentralized price feeds on its platform, available across various cryptocurrencies, stablecoins, indices, commodities, and so on. The price feeds shall provide users with more accurate, tamper-proof exchange rates on the platform.
Cashaa aims at staying transparent with the users, and the association with Chainlink comes in line with the same.
The partnership with Chainlink comes after the partnership with Polygon which highlights the brand’s effort towards creating a stringent economic structure for the end-users so that they can participate in the digital economy by using NFTs, DeFi without any hesitation.
While Cashaa was reviewing various options to build the world's first interest-free lending solution, Chainlink Price feeds stood out in terms of a unique combination of data quality, security, decentralization, and transparency. Some of the unique benefits of Chainlink Price Feeds include - High-Quality Data, Secure Node Operators, Decentralized Network, and Reputation.
“Chainlink Price feeds are used because they are the most time-tested and provably reliable solution in the blockchain industry, securing tens of billions of dollars for numerous leading projects, even during the times of extreme market volatility. While Chainlink Price Feeds are widely used today throughout decentralized finance (DeFi), as traditional finance (TradeFi) platform it will help Cashaa to build interoperable solutions across our partners,” said Kumar Gaurav- Founder and CEO, Cashaa.
Cashaa started as a peer to peer money transfer platform but over time it has emerged as the preferred business banker of the crypto industry in 2020. As Cashaa’s vision is to also empower everyone to take control of their finances and provide them the benefit of Defi, the neo-bank has started to roll out personal accounts across the globe powered by CAS token. Cashaa personal accounts will provide banking services including- payments, lending, and NFT solutions.
The collaboration with Chainlink will set an example on how banking platforms can use blockchain infrastructure to create trustless systems.
Cashaa launched in 2017 with a singular vision — to aid the adoption of blockchain-based financial products. Cashaa has been helping businesses exposed to cryptocurrencies access crucial banking infrastructure and deliver powerful products to their users. In the last two years, Cashaa has onboarded more than 250 crypto-native businesses who transacted over $1 billion using the Cashaa solution — helping to power the banking features used by heavyweights like Nexo, Paxful, Kucoin, Coindcx, Unocoin, Bitbns etc.
As part of Cashaa’s vision to empower individuals to take control of their finances and access the latest in DeFi - decentralized finance - technologies, In 2021, Cashaa will be rolling out personal accounts across the globe — starting with India.
Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across DeFi, insurance, gaming, and other major industries.