Press Release: Pegisai Successfully Completes First Phase of Alkaimi Network Testing

[Dallas, TX. June 19, 2023] - Pegisai USA, a financial technology company, is pleased to announce the successful completion of the first phase of testing for the Alkaimi network. In collaboration with its first four independent licensed operators, Pegisai has achieved a significant milestone in bringing Alkaimi, a global transaction network and payment system, closer to public availability.

Alkaimi sets itself apart from traditional cryptocurrencies by utilizing the Digitized Tangible Asset (DTA), a new category of monetary mechanism. The DTA is not a cryptocurrency, stablecoin, or central bank digital currency. Alkaimi “mints” DTAs against verified tangible and insured assets. Unlike Bitcoin and Ether, which constantly fight regulation, Pegisai worked with regulators. DTAs are minted to comply with established banking and securities laws and to satisfy the Bank for International Settlements’ absolute payment standard, the institutional benchmark for genuine payment finality. Pegisai didn’t stop there. We then created an independent network of licensed and regulated bank holding companies to provide user services.

Unlike blockchain-based cryptocurrencies, Alkaimi employs advanced encryption methods while avoiding the flaws and inherent failure points of blockchain technology. The Alkaimi network ensures surety of payment and instills trust. Alkaimi uses the DTA’s Universal Value Unit capabilities to convert and transfer value globally and instantaneously via digital processes. Alkaimi’s diversified asset clearing network facilitates independent verification, authentication, and forex operations, providing consumers access to a secure and transparent full-circle monetary system while operating inside existing laws and regulations.

Alkaimi leverages advanced smart contract processes inside its Diversified Finance (DeFi) architecture. The smart contract terms are digitized inside the DTA, encrypted with the holder’s drawing rights, and self-execute on validated transfer. These processes enable seamless point-of-sale transactions, driving efficiency and security. Alkaimi validates and authenticates each transaction in real time via the licensed operators. This prohibits fraud, counterfeiting, and “replay” attacks, and arbitrates disputed transactions.

Through the Vault Application, a consumer interface offered by the licensed bank network, consumers have full access to their total wealth portfolio and can transfer value in real time. Because the walled garden operates as a shared ledger across the licensed operator network, transactions conducted in DTA settle at intra-ledger speed, which removes the SWIFT messaging layer for transactions inside the network. Alkaimi assures users a safe, diversified, and reliable experience within an insured, well-regulated, legally compliant, and transparent financial ecosystem.

Alkaimi is DeFi done right

Alkaimi operates inside the banking system at global scale. With its wealth management capabilities and consumer payment gateway, Alkaimi bridges the gap between digital and traditional economies. Beyond consumer payments, Alkaimi enables projects and asset holders to obtain institutional capital against real productive value through DTA issuance inside the licensed bank network, delivering the capital formation capacity that cryptocurrency and decentralized finance architectures could not. Alkaimi is a complete monetary system operating through the banks consumers already use. Having successfully completed the first phase of testing, Pegisai and its licensed operator network have demonstrated the reliability and functionality of the Alkaimi system.

The team remains dedicated to further testing and optimization to ensure a consistent user experience in preparation for the broader deployment of Alkaimi. Pegisai is committed to providing surety and stability to the emerging monetary ecosystem. Substantial DTA issuance through Alkaimi’s licensed bank network will follow upon the completion of subsequent testing phases.

For media inquiries or further information, please contact:

Mike Rogers

Director of Media Relations

M.Rogers@Pegisai.Com

About: Pegisai is a financial technology company developing a productive-coverage-backed monetary architecture through its Alkaimi Financial Ecosystem, powered by the DTA. Alkaimi aims to reshape global commerce, improve access to financial services, and empower economic independence.