Hyderabad: Financial technology company promoted by serial entrepreneur Telangana-born V Raman Kumar, Aeries Financial Technologies on Thursday announced the launch of its smart contract-based distributor ledger technology lending platform on app called CASHe. The app allows users to transact in a secure and transparent manner by creating tokenised cash. It can work as a shared infrastructure across customers, multiple external stakeholders, including regulators and credit bureaus.
The app was launched at the Global Entrepreneurship Summit (GES) in Hyderabad. With almost Rs 2 crore per day transaction, CASHe plans to use newer technologies like Big Data, AI and Blockchain to disrupt traditional banking.
Speaking about the launch at GES, Aeries Financial Technology, chairman, V Raman Kumar said, “CASHe is uniquely positioned to offer its customers the ability to borrow, transfer and repay money by using Smart Contract Enabled Tokens in a completely secure, safe and auditable ways.”