CashOn, a technology finance company focused on fintech and Web3 applications, has announced the launch of Hong Kong’s first digital currency lending matching platform.

This platform helps customers access cash liquidity by using digital currencies, finding and comparing quotes from multiple financial companies, and providing suitable lending solutions, enhancing the fluidity between digital currencies and fiat currencies, the firm said in a statement on Wednesday.

Looking ahead, CashOn plans to expand into the ASEAN with innovative Web3 e-payment solutions.

These solutions will offer more financial service options for merchants and virtual asset holders.

“The Hong Kong government’s comprehensive regulatory framework and business-friendly environment for the digital economy have driven the development of fintech, opening up new opportunities for the traditional financial industry,

“I believe CashOn will establish a foothold in the ASEAN and Hong Kong markets within the next three years, solidifying its unique market position,” said Marvis Wong, Co-founder and Chief Executive Officer of CashOn.

It is noted that CashOn has conducted preliminary discussions with 100 licensed lending companies and signed a memorandum of understanding (MoU) with over 50 companies to accept virtual assets as loan collateral.

“Recently, The persistent economic slowdown in Hong Kong has impacted the profitability of financial institutions. CashOn helps them explore new business areas,

“By actively collaborating with more financial institutions, we are jointly driving the innovation for the credit industry,” said Johnnie Wong, Co-founder and Chief Operating Officer of CashOn.

Dr. Ivan Ng, Co-founder and Chief Financial Officer of CashOn, emphasized the benefits of the digital economy have already surpassed the traditional economy.

“We have received recommendations from multiple valuation firms, with preliminary estimates suggesting that CashOn’s market value can reach at least $10 million,” he said.

With the rapid development of the digital economy market and CashOn’s efforts in the industry, he believes the market value will experience rapid and significant growth.

Jacky Tang, Head of Web3 and artificial intelligence (AI) of CashOn, stated safeguarding fund flows is an important component of the platform.

“CashOn adopts the escrow smart contract in blockchain to ensure the best protection for customer data and virtual assets,

“The transaction characteristics of digital currencies, which are fast and without geographic restrictions, are particularly suitable for collateralized lending and significantly reduce the application time for traditional lending,” he added.

Nova Hung, Chief Marketing Officer of CashOn, said CashOn offers a user-friendly and intuitive interface, enabling digital currency investors to access cash liquidity easily.

“Leveraging the global nature of digital currencies, CashOn aims to facilitate the development of the cross-border digital economy,

“It also through innovative brand promotion and strategic partnerships to enhance its market influence.”

Founded in 2022, CashOn is committed to providing secure, transparent, and efficient financial services through blockchain and smart contract technology.

The firm’s digital currency lending matching platform utilizes big data analysis and AI technology to help customers find and compare quotes from multiple financial companies, securing the most suitable loan solutions.

The company’s goal is to drive the development of the virtual asset market and create the most excellent value for its customers.

It is noted that CashOn has built a brand-new digital currency lending matching platform that connects borrowers with licensed financial institutions, significantly simplifying the collateralized loan process and ensuring a more efficient allocation of assets.

The platform employs a Know Your Customer (KYC) module and chain analysis module, using AI and blockchain big data technologies to encrypt and store customer data.

These technologies help assess potential borrowers’ digital wallets and conduct virtual asset authenticity and anti-money laundering checks.

Simultaneously, they connect potential borrowers with multiple licensed financial institutions, gathering loan offers secured by virtual assets.

This simplifies compliance, provides in-depth credit analysis, and reduces risks associated with virtual assets.

CashOn utilizes smart contracts, including core contracts for escrow, repayment, and margin, to ensure the management of collateralized assets, monitoring repayment progress, and the collection and liquidation of margins.

These contractual terms will be executed without the need for intermediaries, increasing the transparency of loan contracts, building trust between parties, and reducing the risk of misunderstandings or disputes.

The platform also adopts the strictest security measures, such as encryption technology and multi-layer authentication, and collaborates with renowned security institutions to protect the financial transaction security of its customers.

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