Bitcoin Cash developer Jason Dreyzehner claims that the latest upgrade is “a tool to expand access to finance.”
The upgrade also has features such as future-proof multi-party vaults and technical improvements for transaction validation.
The developer emphasizes that CashTokens can be used for a variety of applications ranging from stablecoin payments to gift cards and event tickets.
The price of BCH surged on the same day due to the new update.
The CashTokens upgrade on the Bitcoin Cash network comes as the BRC-20 token becomes more and more popular.
On May 9, the BRC-20 token surpassed the $1 billion market cap.