FLASH TECHNOLOGIES LLC- FZ is a technology company, registered in DUBAI and soon in Europe (Estonia) from April 2023, which develops a money transfer ecosystem (cash to crypto and vice versa). Flash Technologies’ goal is to give users financial freedom even in unbanked areas.
More than a billion people do not have access to a bank account, which means that they only operate with cash. Flash Technologies wants to help users to convert their CASH into CRYPTO via partner stores. The company will therefore make cryptos accessible to millions of people, largely in very poor countries where access to banks is difficult. And the partnership with Binance makes it available in 180 countries, 90 currencies worldwide through an onramp solution (payment integration)
The size of the global money transfer market has reached a value of $15 billion by 2022 and is expected to grow at a rate of 14% through 2027. And Flash Technologies does not want to stay on the side-lines of this exponential growth.
The project has a wide ecosystem consisting of several products as follows:
1. FLASH TRANSFER. It is a global cash/cash transfer service through which users will be able to purchase or withdraw cash via merchant partners in over 180 countries. Through THE partnership with Binance, customers will be able to purchase assets with credit cards on all of the websites for only a 2% fee, better than competitor Moonpay (4.5% fee).
2. FLASH WALLET. It is a web3 e-wallet with a special feature called: the “dead-wallet” function. This feature allows the recovery of cryptos in another wallet in case of loss of the seed phrase (password) or in case of death of the crypto holder. A smart contract linked to a timer that automatically triggers the transfer of funds out of the wallet after a certain time has been integrated.
Furthermore, to guarantee transparency and security, FlashPay will be integrated into the Wallet. With FlashPay, escrow agreements can be created quickly by either the buyer or the seller. Once receipt of goods or services is confirmed, funds are immediately transferred to the seller via the smart contract.
3. FLASH DEX. It is both a swap and a bridge on more than 20 blockchains. It is equipped with an aggregator that will search for the best rates on different protocols to offer the user the lowest price at the time of the transaction. The DEX (Decentralized Exchange) allows users to make decentralized transactions without going through a centralized authority or an intermediary. Several projects can list their tokens on this exchange to be available on dozens of blockchains and extend their accessibility.
4. FLASH LAUNCHPAD : It is a decentralized launch platform built on multiple blockchains, which will help new crypto-currency projects raise funds and gain visibility in the market. It is designed to provide projects with a secure and transparent way to launch their tokens while allowing investors to participate in these launches in a fair and equitable manner.
Other new products will be added to this list in the future.
In addition, FLASH 3.0, the governance token will be launched on 6 chains (Bnbchain, Ethereum, Polygon, Cronos, Optimism and Arbitrum).
It is a multi-chain token that will become a currency in the Flash Technologies ecosystem. It will give various benefits depending on the number of tokens held by the user. It can be purchased on different blockchains with the same address. FLASH 3.0 will be audited by CertiK, one of the largest auditing companies in the world in the field of smart contracts.
Finally, FLASH TECHNOLOGIES is not only associated with Binance but has also sealed many other partnerships such as with CertiK for audits, Synaps for KYC and KYB. For regulation and compliance, Flash Technologies works under the dome of the international firm Osborne Clarke.
Flash Technologies – Be independent
Media Details:
Bfinity/binance
Contact person: Lareina G
Email: lareina.g@binance.com
Osborne Clarke
Contact: Karima Lachgar
Email: karima.lachgar@osborneclarke.com
Synaps
Contact: Florian
Email: florian@synaps.io
Disclaimer:
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
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