Denmark-based blockchain powered conglomerate OpenLedger ApS has officially announced its token launch for OCASH, an all-in-one payments card for the OpenLedger platform. OCASH will launch its new token, called OCASH (OCS) scheduled for the end of August 2017.
OCASH will bring the international card payments system to the OpenLedger network, allowing token holders to use stablecoins including bitUSD, bitEUR, bitGBP, and Rubles – plus other OpenLedger tokens such as OBITS, BTC, and ETH – to purchase items anywhere that accept international payment cards.
OCASH holders will benefit from the many usage options offered in the form of monthly or quarterly share drops in bitUSD.
“We are witnessing the birth of the biggest shake-up in financial history with the introduction of our crypto-ready payments card, allowing instant withdrawal and POS payments.”
“The option to pay and withdraw any kind of crypto, anywhere and anytime, instantly from your payment card, is groundbreaking. Furthermore, the ability to manage transactions in your browser-based web wallet, and with no need for a bank account, is what will make crypto accessible, overnight and worldwide. Naturally, this will allow OpenLedger to stand strong as a platform, continue to innovate, and above all, give the 2 billion population who are unbanked an easy way to access an account and make transactions.”
“OCASH international payment cards draw funds from the users’ contract wallet which support SmartCoins, like bitUSD, and more than 20 other existing cryptocurrencies from the OpenLedger crypto gateway including BTC, ETH, OBITS, and BitShares.”
“OCASH makes every token better, letting users spend supported tokens with just a swipe at merchants worldwide. It has unique benefits for the remittance market, and the OBITS token is designed to let all OBITS holders benefit from broad market exposure to the token economy. This is the first of its kind – a payment card making use of stablecoins for instant cash or POS payments and we are excited to finally launch this product.”
While initially providing current token holders with payment utility, the main vision of OCASH is to build a product that anyone can use as an ‘all-in-one bank on the blockchain’ solution, plus it is a great fit for the more than two billion unbanked people around the world. With the accompanying OCASH app alongside the debit card, users will have a new platform to access and engage in the OpenLedger ecosystem.
The OCASH concept will be rolled out in two phases:
- Phase one – will introduce the virtual card with its all-in-one banking solutions, mobile app, a website with a sign-up page and physical card, all within a 3 month period.
- Phase two – will see the launch of an ICO, focusing on the marketing funds needed for maximum global exposure, using Phase one as the proof of work (POW), resulting in the introduction of a blockchain-instant interface approximately 1 to 2 months after the end of the ITO.