Unicas To Cease CAS as Its Native Token Post 30th June, 2022

25,00,000 CAS tokens are currently staked by UNICAS users

UNICAS- a crypto friendly financial institution has announced that CAS token by Cashaa will cease to be its native token post 30th June 2022. This announcement comes after both entities decided to dissolve their partnership last week.

After successfully transforming India's crypto-terrain in the last year of operations, Unicas has green-lit a management buy-out and has decided to part ways with the UK-based crypto Neo-banking company.

The company has stated that the management change poses no risks to the user balances, ensuring a smooth transition from its former mode of operation to an independent system. The current CAS token holders will continue to enjoy high interest on their deposits and low interest loans, and trading of CAS shall work as usual on the Unicas platform.

From the first of July, Unicas will release the CAS staked for Standard/ Premium membership and DSA accounts and introduce the new ecosystem. This shall not hinder the user's access or experience of any premium features and services. Standard/Premium account holders will also be able to avail the extended monthly limit for loans, deposits, and withdrawals as customary.

”The Indian market has a huge upside after the recent reforms in the country, due to which we have decided to procure Unicas stakes from Cashaa representatives in India. With an independent ecosystem, we will soon be introducing features and products that we have been working upon for a long time and are ready to launch now. By assuming greater control over the platform, we seek to pave a more dynamic path for Unicas,” said Ms. Sonal Kukreja, Co-founder and CEO of Unicas.

Both the entities are aggressively working towards new developments as they aim at serving the customer base in a holistic manner with their individual set of expertise and approach. Unicas is working to extend its reach and accelerate its progress in the realm of crypto-finance by inaugurating a number of new branches and advancing wallet services across the nation.

About Unicas

Unicas is a cryptocurrency platform offering crypto-backed loans and interest-earning accounts. It is the world's first crypto financial institution with bank-like brick-and-mortar stores to enable accessibility and ease of transition to cryptocurrencies. Unicas allows user to earn high yield interest on stable coins and cryptocurrencies with no lock-in period and avail crypto-collateralized loans without cashing out their crypto holdings.

Website: Unicas.co.in

Crypto Friendly Neo Banking Startup Cashaa Exits From Unicas in India

Cashaa, a prominent fiat, and crypto neo bank announced its exit from Unicas, Cashaa’s maiden attempt to enter the personal crypto-banking market after becoming a market leader in B2B crypto banking. In 2020, Unicas offered crypto-friendly INR Savings accounts to its customers in partnership with the United Multistate Co-op.

In recent events, Cashaa holding company Crypto Innovations UAB was granted a European virtual assets license from Lithuania. “The proposal was in the best interest of Cashaa, and it was decided that it would be even beneficial for both companies if Cashaa accepts a proposed buyout offer and exits from Unicas,” said Ms. Anamaria Redianu, Cashaa’s Board representative.

Cashaa will soon release its expansion plan for India. “The Indian market offers tremendous potential, especially after the recent clarity regarding cryptocurrency taxation and legal infrastructure. We at Cashaa welcome this decision”, said Mr. Kumar Gaurav, Cashaa CEO.

The compensation from the buyout will contribute to a $20 million investment fund to develop the fast-growing Web3 market. The complete details will be out soon.

“We have decided to acquire our stake from Cashaa representative in India to give a new direction to Unicas. After the recent reforms, the Indian market has a huge upside potential”, said Sonal Kukreja, Co-founder and CEO of Unicas.

Presently, Unicas has four branches fully operating in India, and the company aims to further its expansion. Unicas provides saving accounts and offers collateralized loans against crypto assets.

Cashaa started as a peer-to-peer (P2P) money transfer platform that transformed into a neo-bank in the UK. Cashaa has been helping businesses to access crucial banking infrastructure and deliver robust products to their users. 

Cashaa has onboarded more than 400 crypto businesses that have transacted billions of dollars using its solution. Cashaa is currently the largest community of crypto businesses, including heavyweights such as Binance, Chainlink, Kucoin, Nexo, Polygon, Paxful, CoinDCX, CoinSwitch Kuber, Bitbns, Unocoin, and many more.

Unicas - Crypto Friendly Financial Institution Launches It's New Physical Branch in Janak Puri, Delhi

The new branch shall allow users to transact INR and crypto through one account

Unicas, the world’s first crypto financial institution with physical branches, announced opening another branch in JanakPuri, West Delhi. The new branch is located amidst the hustle-bustle of the commercial district of West Delhi, across the Janakpuri District Center.

In the last year of operations, Unicas has created a one-stop solution platform to invest, earn and borrow cryptocurrencies. With its branches, Unicas is able to bridge the gap between traditional banking and the digital age of investment and allow a seamless transition to its users. Following the overwhelming response at the central Delhi branch in Connaught Place, the brand is now expanding in other parts of the capital starting with the new branch in Janakpuri.

Cashaa, a global banking platform, launched Unicas in India, to enable users to transact in fiat and crypto through a single account with ease.

The new branch is operational, and allows users to avail facilities including high yield savings interest of up to 13% p.a., instant loans against crypto assets, and an exchange service.

The financial institution-Unicas accepts the CAS token as its native crypto asset. Users with the higher portfolio balance in CAS get additional banking services along with a lower rate of interest for loans along with higher earnings on saving balance.

“Contrary to the popular speculations in regard to crypto, we have witnessed a handsome response for the physical branches. We noted how this has helped us to facilitate awareness on technology and innovation, along with introducing the finest banking infrastructure. We aspire to take this way ahead, and the new branch is the step in the same direction,” said Kumar Gaurav- Founder & CEO of Cashaa

“The user base for just the physical branch at Unicas is growing month-on-month. Following the same we have decided to widen our reach at the grassroots levels. We wish to penetrate to the remotest of the areas in India and provide the tech enabled advanced banking experience to the people. This is just the beginning, and in the longer run we will expand across the length and breadth in the county,” said Dinesh Kukreja- CEO of Unicas.

Unicas plans to foray in UP and Telangana, markets too in 2022.

About Cashaa

Cashaa aims to revolutionize the fintech space by banking the global crypto economy. Cashaa is the biggest community of crypto business, more than 350 crypto brands including industry leaders like Binance, Kucoin, Elrond, Polygon, Bitbns, CoinDCX, Unocoin, CoinSwitch and many others are using Cashaa services. In addition to the Unicas in India, Cashaa will be rolling out its services for personal users across the globe.
The Unicas West Delhi branch is located at: B-1/513, Lower Ground Floor, Opposite Janakpuri District Center, Janakpuri, New Delhi-110058.

Website: Cashaa.com

About Unicas

Unicas is the world’s first crypto institution with physical locations. Unicas aims to enable crypto access, awareness and investment to the common person in India. Unicas offers industry leading crypto interest, instant loans against crypto and exchange facility to its users PAN India.
The Unicas West Delhi branch is located at: B-1/513, Lower Ground Floor, Opposite Janakpuri District Center, Janakpuri, New Delhi-110058.

Cashaa and Chainlink Collaborate to Bring Crypto and Defi Solutions to the Masses

Mr. Kumar Gauarav Founder & CEO Cashaa

Cashaa, a crypto-friendly neo-bank, has now integrated Chainlink a crypto project which has a market cap of 12 Billion USD—open-source, and decentralized price feeds on its platform, available across various cryptocurrencies, stablecoins, indices, commodities, and more. The price feeds shall provide users with more accurate, tamper-proof exchange rates on the platform. Cashaa aims at staying transparent with the users, and the association with Chainlink comes in line with the same.

Cashaa started as a peer to peer money transfer platform but over time we have become the preferred business banker of the crypto industry in 2020. As Cashaa’s vision is to also empower everyone to take control of their finances and provide them the benefit of Defi, In 2021, Cashaa started to roll out personal accounts across the globe powered by CAS token. Cashaa personal accounts will provide banking services including- payments, lending, and NFT solutions.The collaboration with Chainlink will set an example on how banking platforms can use blockchain infrastructure to create trustless systems.

The partnership with Chainlink comes after the partnership with Polygon which highlights the brand’s effort towards creating a stringent economic structure for the end-users so that they can participate in the digital economy by using NFTs, DeFi without any hesitation.

“Chainlink Price feeds are used because they are the most time-tested and provably reliable solution in the blockchain industry, securing tens of billions of dollars for numerous leading projects, even during the times of extreme market volatility. While Chainlink Price Feeds are widely used today throughout decentralized finance (DeFi), as traditional finance (TradeFi) platform it will help Cashaa to build interoperable solutions across our partners,” said Mr. Kumar Gaurav- Founder and CEO, Cashaa.

While Cashaa was reviewing various options to build the world's first interest-free lending solution, Chainlink Price feeds stood out in terms of a unique combination of data quality, security, decentralization, and transparency. Some of the unique benefits of Chainlink Price Feeds include - High-Quality Data, Secure Node Operators, Decentralized Network, and Reputation.

About Cashaa

Cashaa launched in 2017 with a singular vision — to aid the adoption of blockchain-based financial products. Cashaa has been helping businesses exposed to cryptocurrencies access crucial banking infrastructure and deliver powerful products to their users. In the last two years, Cashaa has onboarded more than 250 crypto-native businesses who transacted over $1 billion using the Cashaa solution — helping to power the banking features used by heavyweights like Nexo, Paxful, Kucoin, Coindcx, Unocoin, Bitbns etc.

As part of Cashaa’s vision to empower individuals to take control of their finances and access the latest in DeFi technologies, In 2021, Cashaa will be rolling out personal accounts across the globe — starting with India.

About Chainlink

Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.

Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.

Crypto-friendly Neo-bank Cashaa Joins Hands With Polygon to Release DeFi Solution for Masses

Mr. Kumar Gaurav Founder & CEO Cashaa

Cashaa- a crypto-friendly neo-bank has partnered with Polygon, a layer two solution on Ethereum-compatible blockchain. Cashaa has been helping crypto businesses access crucial banking infrastructure that have transacted billions of dollars using its solution. As part of Cashaa’s vision to empower individuals to take control of their finances and access the latest in DeFi technologies. Cashaa started to roll out personal accounts across the globe — starting with India.

“Cashaa has been continuously scaling and now entering into giving personal accounts to increase the adoption of its CAS token which requires cheaper transaction cost. Association with Polygon is another step towards the same,” said Mr. Kumar Gaurav- Founder and CEO, Cashaa.

Cashaa has made this move to reduce the network fee which is becoming a bottleneck for small transactions on Ethereum network, but at the same time, Ethereum has the best security. To solve the dual problem of speed and security it partnered with Polygon. Cashaa will release a bridge that allows users to quickly move their CAS tokens from Binance Smart Chain to Polygon network. Using the bridge, CAS holders will be able to leverage Polygon’s ultra-efficient full-stack scaling to minimize transaction fees while transacting with CAS and gain access to Polygon’s growing DeFi ecosystem. CAS holders will also be able to stake CAS on the Polygon network to earn upto 30% APR — rewarded in CAS and MATIC tokens.


“I feel proud that Cashaa started its personal account release from India to help the crypto community. Cashaa recently moved some of its products to the Polygon network to decrease the cost of the transaction to serve the masses. Congratulations on the release,” said Sandeep Nailwal Co-founder Polygon (Previously Matic)

Cashaa will also be implementing MATIC tokens in the following products.

1. Cashaa Earn: Earn up to 14% annual interest on deposits. Cashaa Earn will support a variety of popular fiat currencies such as USD, EURO, GBP, INR and crypto such as BTC, ETH, USDT, MATIC etc.
2. Cashaa Lend: Cashaa is committed to supporting the global crypto economy and has designed a unique loan solution of 0% interest rates on cryptocurrency-collateralized fiat loans on Bitcoin, Cashaa, Ether and Matic. With this, users can take out loans to purchase products from over 2,000 partner retailers — including Apple, Amazon, Flipkart, or take Cash on cards like MasterCard or Visa — with zero interest due.

The DeFi philosophy becomes more real with Polygon's lower network fees, near-instant transaction speeds. However, scalability is the key USP for Cashaa to bring their applications to Polygon. DeFi composability is equally prominent. The high number of applications already using Polygon’s full-stack scaling solutions bring opportunities to inter-operate and get supported while supporting themselves!

About Cashaa

Cashaa launched in 2017 with a singular vision — to aid the adoption of blockchain-based financial products. Cashaa has been helping businesses exposed to cryptocurrencies access crucial banking infrastructure to deliver powerful products to their users. In the last two years, Cashaa has onboarded more than 250 crypto-native businesses who transacted over $1 billion using the Cashaa solution — helping to power the banking features used by heavyweights like Nexo, Paxful, Kucoin, Coindcx, Unocoin, Bitbns etc.

As part of Cashaa’s vision to empower the world to take control of their finances and access the DeFi technologies, In 2021, Cashaa will be rolling out personal accounts across the globe — starting with India.

About Polygon

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting cured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 450+ Dapps, ~350M txns, and ~13.5M+ unique users.