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.

UNICAS Crypto Bank To Roll Out 14 Physical Branches in India in January; To Offer Buying, Selling and Loans Against Cryptocurrencies

• 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