Cashaa partners with Polygon to offer DeFi Solution to masses

Cashaa, a crypto-friendly neo-bank, on Monday announced it has partnered with Polygon to develop a connection that will allow users to quickly transfer their CAS tokens from Binance Smart Chain to the Polygon network.

The Cashaa platform's native coin, CAS, provides features such as faster processing, lower set-up fees, lower international wire costs, and exchange and transaction fees rebates.

According to a statement, Cashaa took this step to reduce the network fee, which has become a barrier for small transactions on the Ethereum network, while also ensuring that Ethereum maintains the highest level of security. It partnered with Polygon to solve the dual problem of speed and security.

CAS holders will be able to take advantage of Polygon's ultra-efficient full-stack scaling to reduce transaction fees and gain access to Polygon's growing DeFi ecosystem while transacting with CAS. CAS holders can also stake their tokens on the Polygon network to earn up to 30% APR, which will be paid out in CAS and MATIC tokens.

Cashaa is a neo-bank that aims to help crypto businesses gain access to banking infrastructure, and it has begun rolling out personal accounts across the globe, beginning in India.

The company has been assisting businesses dealing in cryptocurrencies in gaining access to critical banking infrastructure in order to provide their customers with powerful products. Cashaa has onboarded more than 250 crypto-native businesses in the last two years, with the Cashaa solution powering banking features used by heavyweights like Nexo, Paxful, Kucoin, Coindcx, Unocoin, Bitbns, and others.

Polygon (formerly Matic Network), which was co-founded in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, uses Matic as its native currency.

MATIC tokens will be used by Cashaa in the following products: Cashaa Earn, which pays up to 14% annual interest on deposits; Cashaa Lend, a 0% interest loan solution for cryptocurrency-collateralized fiat loans in bitcoin, Cashaa, ether, and matic.

“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 cost of the transaction to serve the masses. Congratulations on the release,” said Sandeep Nailwal Co-founder Polygon (Previously Matic)

Polygon is the world's first well-structured, simple-to-use Ethereum scaling and infrastructure development platform. Polygon SDK is its core component, a modular, flexible framework that allows users to build and connect cured Chains such as Plasma, Optimistic Rollups, zkRollups, Validium, and others, as well as Standalone Chains such as Polygon POS, which are designed for flexibility and independence.

Polygon's scaling solutions have been widely adopted, with over 450 Dapps, 350 million transactions, and 13.5 million unique users.

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