Cashaa, a peer-to-peer remittance company, officially launches its operations

Rage Review : Cashaa is a new cash remittance company. Three months ago, it launched its BTC2BID trading platform to test the trading model. It has now ended the testing phase and officially entered full-line operation. The trading platform is characterized by strict peer-to-peer transactions, no middlemen, no contact with cash, saving a lot of transaction costs and labor costs; and its free model helps to introduce the cash remittance market into the cryptocurrency trading market, increase currency liquidity and investment returns. At present, the company has a clear development context, and its subsequent development is worth looking forward to.

Translation: Annie_Xu

New cash remittance company Cashaa has officially launched its operations after a three-month testing phase.

Cashaa co-founder and CEO Kumar Gaurav said the company started launching the BTC2BID trading platform on April 3 to test and validate its model, and set up an office in London two months later, but the R&D center is still in Mumbai, India.

Strictly peer-to-peer transactions

Kumar Gaurav

Gaurav said Cashaa is a peer-to-peer cash remittance company that uses a network of cryptocurrency traders to send and receive cash.

“The advantage of the whole system is that we do not touch cash at all, so we can reduce all related costs, provide free services to cash remitters, and we do not need to arrange cashiers. We are a completely peer-to-peer company, with two unique companies participating in the entire process, providing services and getting corresponding rewards through Cashaa.” Unique free model

Gaurav said this model helps the company bring the $300 billion cash remittance market into the $60 billion cryptocurrency trading market, providing traders with higher liquidity support and access to cash markets with higher spreads.

"Today, traditional cash remittance services such as Western Union or Moneygram still require a 5-20% service fee; but we provide services for free. We do not involve any bank accounts, credit cards or mobile app-based wallets." Future plans

Gaurav said Cashaa plans to reach a market value of $1 billion within seven years, and will first strive for 0.025% of the cash remittance market share and 0.1% of the cryptocurrency market share. Currently, Cashaa's focus is on the United States and Europe as remittance outbound areas, while the Philippines, Indonesia, Pakistan and India are remittance inbound areas. It is expected that the company will expand China's remittance services to all regions in the Cashaa network next year.