• Unicas is world’s first online crypto bank to roll out its physical branches
  • Will allow users to transact in cryptocurrency and INR through a single account 
  • Products include traditional banking services, buying and selling of cryptocurrency as well as instant loans against cryptocurrencies 
  • Initial rollout of 14 branches in January, rapid expansion to 100 branches by 2022 

New Delhi, December 28, 2020: Cashaa, through a joint venture with United Multistate co-op society, has launched the world’s first crypto bank that allows users to transact in cryptocurrency and fiat from one account. The JV will enable Cashaa to access United’s regulatory licenses, its physical branches, and overall banking Infrastructure. 

Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to rapidly expand to 100 branches by the end of 2022. “This will allow us to build, scale and offer customized financial and crypto products for the local Indian markets” said Mr. Dinesh Kukreja, CEO of Unicas

Users will be able to deposit and withdraw through a savings account the way they operate with traditional banks in India. This is the first time in the world a financial institution has enabled cryptocurrency trade through physical branches.

“If we are planning to move ahead with the aim of digital India then we cannot hesitate in adopting new technologies and finding innovative ways to bring it to Tier 1 and Tier 2 cities in India. In addition to banking, Unicas will also provide information and guidance on the level of convenience and security that blockchain technology offers.” said Kumar Gaurav, CEO and Founder of Cashaa.

Unicas will be providing banking services for both fiat and crypto assets. Services include savings accounts, crypto exchange, crypto loan and debit cards to spend crypto. Users may receive an instant loan digitally by depositing crypto assets in the Unicas wallet and requesting the equivalent value of INR on their card or bank account.

The joint venture is merging United’s decade of experience in Indian traditional finance with Cashaa’s international banking and cryptocurrency experience to transform both the Indian fintech space and the crypto industry.

With the rollout of the initial 14 branches, Unicas aims to onboard 25,000 customers within the first quarter of 2021. Cashaa has already been providing its services to more than 200 crypto exchanges, wallets and startups dealing in crypto.

About Cashaa

Launched in October 2018, Cashaa aims to revolutionize the fintech space by banking the global crypto economy. Cashaa is the world’s first global banking platform which enables the seamless integration of both fiat and cryptocurrency within one account dashboard. In addition to the Unicas venture, Cashaa will be rolling out its services for personal users in the US, UK and Europe over the next 3 months.

Website: Cashaa.com

Website : Unicas.co.in

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