Unicas by Cashaa partners with Bitbns to Provide Banking Services to Indian Crypto Traders
Crypto banks are banking institutions that are involved in various standard money-related activities such as deposits and withdrawals, savings, loans, and investing in a wider variety of market instruments. Although described as bank standards usually, crypto banks have integrated cryptocurrencies into this financial function.
Cashaa was launched in 2018 with a vision to provide banking solutions to Crypto Businesses and Individuals. With the aim of providing a single account for both old and new types of money, offering a comprehensive DeFi solution is another step towards achieving this. After successfully carrying out the main functions of the bank, Cashaa is uniquely positioned to be able to bridge between decentralized and centralized finance.
Cashaa started providing banking services using partner platforms in August 2019. Regulators and banks used to rate companies based on their industry such as cryptocurrency, gaming, gambling etc. To prove that not all companies dealing with cryptocurrencies are involved in money laundering, Cashaa joined more than 200 crypto companies in the last 12 months, where he collected big data for his regulators and banks.
In the UK and Europe, Cashaa will offer its services in partnership with FCA-regulated EMI, which includes CFS-Zipp and PaySafe Group. Cashaa services for businesses in the UK and Europe will start on target in October itself and US operations will be fully functional in December. His US Dollar Services will be provided through Trust Chartered Colorado allowing him access to the Federal Banking system. The Trust already has a primary escrow account with the Federal Reserve Bank of Kansas City and JP Morgan as Corresponding Banks. Escrow deposits will become a direct obligation of the Federal Reserve to the Trust. Therefore, the Federal Reserve system's obligation to pay in full its obligations to Trusts is the same as the Federal Reserve's legal obligation to pay Federal Reserve, IE and US banknotes. There will be a smooth onboarding process for global companies as Cashaa has joined with several big brands from various jurisdictions such as from UK, Europe, Singapore, Hong Kong, UAE, Caribbean and USA. Among the hundreds of companies that have joined during the BETA include Paxful, Nexo, CoinDCX, and Unocoin.
Vision
With a vision to create a better bank, Cashaa worked with several regulated entities for many years and depended on the capabilities of their banking platform. This launch will see our new and existing clients offered business and personal banking facilities with all services enabled via Cashaa's internet banking platform.
Starting November Cashaa will also start issuing personal accounts, which will create retail consumption for CAS tokens. As the utility token of the Cashaa platform, CAS has many utilities such as deep discounts on FX and transaction fees, cheaper international transfers, the ability to spend it anywhere via debit card, exclusive rewards, and crypto-friendly banking services.
Cashaa is pleased to announce its joint venture with, The United Multistate Credit Co. Operative Society as part of India's expansion plan. The Joint Venture, UNICAS, will build the world's first crypto-friendly financial institution with physical branches and operations. UNICAS will start operating in December 2020.
Open a savings account with a crypto wallet
Loans against cryptocurrencies, gold and real estate
Invest in cryptocurrencies, bonds and fixed deposits
Fast expansion to more than 100 branches by 2022
Buy cryptocurrency with cash at physical branches
The JV will allow Cashaa to access United's regulatory license, its physical branches, and the overall banking infrastructure. 'This will enable us to build, scale and offer financial and crypto products tailored for the local Indian market' said Mr. Dinesh Kukreja, Managing Director of United Multistate Credit Co. Operative Society , which has been appointed CEO of the Unicas venture .
UNICAS will enable people to access traditional banking services along with crypto banking services both online and through its 22 physical branches across northern India. The existing United branch will be converted and modernized as Crypto Lounges.
Members can log in to any of these branches and get education about Cryptocurrency along with other Banking services. Initially account holders will be able to buy and sell Bitcoin (BTC), Cashaa (CAS), Ethereum (ETH), Binance (BNB), Bitcoin Cash (BCH), EOS, Litecoin (LTC) and Ripple (XRP) in cash or by balance. account in Indian Rupees. The immediate plan is to open these Crypto Lounges in Delhi, Gujarat and Rajasthan which includes a population of 150 million Indians living in this state. 'We are looking forward to expanding our footprint across other Indian states from there' said Mr. Kukreja.
CAS tokens
CAS is a utility token used to access Bank accounts and Fiat-Crypto-Fiat lean services provided by Cashaa. The demand for these services will increase dramatically with billions of dollars being moved within and outside the DeFi ecosystem. With thousands of Individuals & Businesses ready to access Cashaa accounts and related services, the demand for CAS tokens will be exponential.
Cashaa will benefit from the hundreds of new people joining the DeFi revolution every day who don't want to deal with the complex and somewhat technical process of operating the DeFi protocol, including swaps and liquidity pools. We're building a 'super simple interface for DeFi'. Most of the services will work with just one click on your phone!
Cashaa aims to be the obvious choice for anyone starting out with DeFi.
Our roadmap:
December 2020: Indian Market
The main tasks will be:
Unicas site
Unicas cabang branch modeling
Continuing the training of existing United employees
Unicas marketing roadmap execution with marketing agents
Other tasks:
Complete development of CAS integration in banking platform
Continuing development of USD banking services
Release the broker account in the new banking platform
Hire and train operations and support employees in the US
January 2021: US Market
Disposal of business and personal accounts in the US market.
Release the utility of CAS tokens on the internet banking platform
Execution of the launch marketing roadmap in the US
Hire and train operational and support employees for the European market
February 2021: European Market
Release of business & personal accounts in the European market.
Marketing campaign for launch in UK and Europe
Development of foreign exchange services with international remittances
Cashaa DeFi (Cashfi) smart contract deployment
CashFi consumer loan development
March 2021: Worldwide (Cashfi)
Release of foreign exchange services for personal and business users
Release of Cashfi Beta on the Cashaa banking system
Marketing campaign for Cashfi
Mobile app development for Cashaa
Development of virtual card generation (Mastercard, Visa, Rupay and Unionpay)
Our roadmap:
December 2020: Indian Market
The main tasks will be:
Unicas site
Unicas cabang branch modeling
Continuing the training of existing United employees
Unicas marketing roadmap execution with marketing agents
Other tasks:
Complete development of CAS integration in banking platform
Continuing development of USD banking services
Release the broker account in the new banking platform
Hire and train operations and support employees in the US
January 2021: US Market
Disposal of business and personal accounts in the US market.
Release the utility of CAS tokens on the internet banking platform
Execution of the launch marketing roadmap in the US
Hire and train operational and support employees for the European market
February 2021: European Market
Release of business & personal accounts in the European market.
Marketing campaign for launch in UK and Europe
Development of foreign exchange services with international remittances
Cashaa DeFi (Cashfi) smart contract deployment
CashFi consumer loan development
March 2021: Worldwide (Cashfi)
Release of foreign exchange services for personal and business users
Release of Cashfi Beta on the Cashaa banking system
Marketing campaign for Cashfi
Mobile app development for Cashaa
Development of virtual card generation (Mastercard, Visa, Rupay and Unionpay)
Information:
Website : https://cashaa.com/
Telegram : https://t.me/cashaanews
Twitter : https://twitter.com/yourCashaa
Facebook : https://www.facebook.com/cashaaLtd/?ref=bookmarks
LinkedIn : https://www.linkedin.com/company/cashaa/
Youtube : https://www.youtube.com/channel/UCwRJjX6dNz49j3Pc0ROZJbg
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