The ConsenSys Company, Kaleido, had collaborated with Amazon Web Services to launch an enterprise blockchain marketplace. There is another development as Kaleido announces the addition of ioCash to the third-party marketplace. ioCash is the first B2B platform where people can operate with fiat money on the blockchain directly. The ioCash platform facilitates complex payment and programmable money through an updated ERC-20 Ethereum standard. The acceptance of legal e-money on the blockchain offers a host of opportunities for both companies and the companies that use fiat money. There are lots of benefits of using ioCash on Kaleido.
Receive and Send Electronic Money
With the help of ioCash, a user can create an electronic money account with IBAN and then connect with the ethereum address on the network where the ioCash is. In this way, the account can send or receive electronic money through the blockchain.
The API is developer-friendly, which allows seamless integration of your application and full online documentation. Once everything has been set-up, the smart contracts can interact directly with the money and accounts on blockchain.
Different payment functionalities are provided by ioCash, such as the opening of e-money accounts and managing payments. All these are done in a single and easy-to-integrate solution.
ioCash is a fintech platform that works under Electronic Money European License, and, as per reports, it will get expanded to include the US license also. It means that ioCash is legally compliant and fully regulation similar to a traditional bank account.
The new collaboration between Kaleido and ioCash will benefit all those who are looking for enterprise blockchain solutions. The present Kaleido users will get to use fiat payments without any need to employ stable coins or any non-regulated alternative. ioCash makes adopting fiat payments on blockchain much more comfortable than before.