Kalshi expands global reach with Zero Hash’s USDC Account Funding product
CHICAGO, Oct. 28, 2024 (GLOBE NEWSWIRE) — Kalsi, the first CFTC-regulated exchange dedicated to trading the results of future events, is a leading cryptocurrency and stablecoin infrastructure We partnered with the platform Zero Hash. Kalsi leverages Zero Hash’s “Account Funding” solution, allowing investors to seamlessly deposit and withdraw funds to their Kalsi accounts using USDC. Kalsi now offers a truly frictionless funding method and provides accessible funding rails to its user base. These transactions fund Karshi’s customer accounts in near real-time, 24/7, unlocking instant trading capabilities.
Kalshi is backed by Sequoia, Y Combinator, Charles Schwab, Henry Kravis, Neo, SV Angel, and more. In 2020, Kalsi achieved a significant milestone by becoming the first regulated financial exchange approved by the Commodity Futures Trading Commission (CFTC) to offer event contracts. Kalsi also won an attempt to post political contracts (including the US elections scheduled for Tuesday, November 5, 2024) on the trading platform. “Electoral markets are now legal in the United States,” said Carsi co-founder Luana López Lara.
Kalsi is democratizing access to future event trading. Stablecoins are the universal rails for sending and receiving payments around the world, with transaction volume of $8.5 trillion in Q2 2024, compared to $3.9 trillion for Visa (a16z: State of Crypto Report 2024). This aligns perfectly with Kalsi’s mission to simplify access to. futures trading.
Zero Hash’s “Account Funding” flow allows Kalshi customers to deposit with stablecoins but receive fiat payments. Kalshi embeds a Zero Hash funding widget customized to the Kalshi UX and does not touch any cryptocurrencies or stablecoins in the flow of funds. The hashing product can be easily integrated via the SDK, allowing Kalshi to efficiently release the product in about 10 days.
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“Kalsi’s vision is to empower people around the world to leverage their voices and transact in the realms of everyday life. Zerohash’s ‘fund’ products have this same unique DNA. Tarek Mansour, co-founder and CEO of Karshi, said: “Zero Hash’s SDK technology significantly reduces time to market, and its infrastructure seamlessly converts USDC to USD, abstracting technical and regulatory complexity. You can absorb the value of the stablecoin just by continuing to operate it.”
“We are delighted that Kalshi is using Zero Hash’s “Account Funding” feature to bring real utility to the trading market. “Zero Hash’s embeddable technology allows Kalshi to unlock access to their customers and seamlessly fund their Kalshi accounts using USDC-enabled Zero Hash accounts.” said Edward Woodford, Founder and CEO. “While the futures trading market is a fast-moving, 24/7 business, traditional funding methods are limited to bank business hours and can take up to 3-4 days to deposit funds into your account. .By using Zero Hash’s “account funds,” Kalsi said. We can provide a mechanism to fund accounts 24/7, allowing our customers to take advantage of market opportunities. ”
About Karshi
Kalshi is the first CFTC-regulated exchange specializing in trading based on the outcome of future events. From inflation to federal interest rates, unemployment to government shutdowns, Karshi allows people to trade on a wide range of topics. We have developed a new asset class, event contracts, that allows you to purchase a “yes” or “no” position as to whether an event will occur.
Everyone faces a variety of risks: inflation, extreme weather, mortgage rates, Supreme Court decisions, student loans, and more. Kalsi’s vision is to enable people to leverage their opinions, trade in everyday areas and avoid the risks associated with it.
Karsi was founded in 2018 by Tarek Mansour and Luana López Lara. Kalshi was part of Y Combinator’s Winter 2019 batch. We released a beta app in 2019. And in 2020, Kalsi achieved a significant milestone by becoming the first regulated financial exchange approved by the Commodity Futures Trading Commission (CFTC) to offer event contracts.
We make money in the same way as most exchanges. We collect a small fee for every transaction made on our platform (no weird order flow or anything).
Kalshi is supported by Sequoia, Y Combinator, Charles “Chuck” Schwab, Henry Kravis, Neo, SV Angel, and more.
About zero hash
Zero Hash is a B2B2C crypto-as-a-service infrastructure platform that allows any platform to quickly and easily natively incorporate digital assets into their own customer experiences through API endpoints. Zero Hash’s turnkey solution handles the complexity of the entire backend and regulatory licenses required to offer an encryption product.
Through its subsidiaries, Zero Hash Holdings supports neobanks, broker-dealers, payment groups, and non-financial brands with products powered by cryptocurrencies and stablecoins.
Zero Hash Holdings is backed by investors including Point72 Ventures, Bain Capital Ventures, and NYCA.
Zero Hash LLC is a FinCen-registered money services business and a regulated money transmitter that can operate in 51 jurisdictions in the United States. Zero Hash LLC and Zero Hash Liquidity Services LLC are licensed by the New York State Department of Financial Services to engage in virtual currency business activities. In Canada, Zero Hash LLC is registered with FINTRAC as a Money Services Business.
Zero Hash Australia Pty Ltd. is registered with AUSTRAC as a digital currency exchange provider and has DCE Registered Provider Number DCE100804170-001. This registration will enable Zero Hash to offer crypto services in Australia. Zero Hash Australia Pty Ltd. is registered with the New Zealand Financial Services Provider Register under Financial Services Provider (FSP) number FSP1004503. A New Zealand FSP is a registration and does not mean that Zero Hash Australia Pty Ltd. is licensed by the New Zealand regulator to provide encryption services. Zero Hash Australia Pty Ltd.’s registration on the New Zealand Financial Services Provider Register does not mean that Zero Hash Australia is subject to active regulation or supervision by any New Zealand regulator. Zero Hash Europe BV is registered as a Virtual Asset Service Provider (VASP) Register by the Dutch Central Bank (Relationship Number: R193684). Zero Hash Europe Sp. Zoo is registered as a VASP by the Polish Chamber of Tax Administration in Katowice (registration number RDWW – 1212).
Connect with zero hash
Website | Twitter | LinkedIn | Medium
zero hash contact
Sean O’Keefe
(855) 744-7333
(email protected)
Zero hash disclosure
Zero Hash’s services and product offerings are not available in all jurisdictions, including New York. Zero Hash Accounts are not subject to FDIC or SIPC protection or any equivalent protection that may exist outside of the United States. Zero Hash’s technical support and asset activation does not constitute an endorsement of such assets or a recommendation to buy, sell, or hold any cryptoassets. The value of any cryptocurrency, including digital assets pegged to fiat currencies, commodities, and other assets, can fall to zero. Zero Hash is not registered with the SEC or FINRA. Zero Hash does not provide securities services and does not store securities, including security tokens, on behalf of its customers.
Karshi’s Disclosure
Restrictions and eligibility requirements apply. Event contract trading involves significant risks and is not suitable for everyone. Please consider carefully whether it is appropriate for you, taking into account your own financial situation.
