New Delhi, Wednesday, January 6, 2021: Unicas — a crypto friendly financial institution by Cashaa, has partnered with Bitbns cryptocurrency exchange to provide Indian crypto traders with advanced banking services.

The new partnership will enable Indian Bitbns users to become Unicas members and access their state-of-the-art banking services. Unicas banking services include- high interest savings accounts, crypto backed loans and debit cards that enable deposit and withdrawal in both crypto and fiat. Currently, Bitbns has over 1 million users trading on its platform.

The partnership comes amidst the rapid expansion plans by Unicas in India, announcing 14 physical branches in the next 45 days in which the branch in Rajasthan already went live on 28th December 2020. The brand further plans expanding to 100 branches over the period of 2 years.

“Partnering with Bitbns will lead our banking products to crypto users that are currently restricted to using crypto for only trading purposes. India has unlimited potential due to its large youth and middle-aged population who hold significant wealth. Since India is on the road to digitalization, we aim to be a part of this nation-wide ambition,” said Dinesh Kukreja, CEO and Managing Partner of Unicas.

Unicas will offer India’s first crypto debit card, allowing users to spend their cryptocurrency while making purchases. When making payments with a debit card, the conversion from crypto to INR will be directly executed on the Bitbns exchange. This will provide more liquidity to Bitbns and provide users with market priced exchange rates.

Gaurav Dahake, CEO of Bitbns stated “Bitbns has been using Cashaa’s services, and with this association every Bitbns Indian user will be able to access Unicas banking services. We are excited to introduce our loyal customers to Unicas and be a part of this revolution”.

“Cashaa is the banker of choice for crypto business around the world. Our mission is to create compliant and user- friendly products which grow the crypto ecosystem globally. With our partners and business customers around the world we are building the next generation banking platform to encourage the crypto adoption in their local market,” said Kumar Gaurav, Founder and CEO of Cashaa.

Unicas services will be available to Bitbns users from the 3rd of February 2021. In order to access the complete portfolio of Unicas services, staking of the CAS token will be required. The CAS tokens not only facilitate Unicas services in India, but also Cashaa’s global banking platform. Bitbns will list CAS with an INR pair. Trading will begin on the 12th of January 2021.

About Cashaa

Cashaa is the world’s first global banking platform which enables the seamless integration of both fiat and cryptocurrency within one account dashboard. With over 200 crypto companies banking with Cashaa, they hold the largest market share of crypto banking in Europe. In addition to the Unicas venture in India, Cashaa will be rolling out its services for personal users in the USA, UK and Europe in 2021 powered by the CAS token.

Website: Cashaa.com , Unicas.co.in

About Bitbns

Bitbns is India’s leading digital assets exchange with over 100 assets listed on the platform. Bitbns has over 1 million + registered users on the platform and has all the tools for users from spot trading, margin trading with 4x leverage, derivatives trading and also a systematic investment option for bitcoin through bitdroplet.com. The founding team is from IIT kgp and has had over a decade of experience of working together and building products like buyhatke, usemycards which have been scaled to millions of users.

Website: bitbns.com

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Unicas by Cashaa partners with Bitbns To Provide Banking Services to Indian Crypto Traders. was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Cashaa is pleased to report that today Unicas opened its first physical branch in Jaipur, India.

We encourage everyone from Jaipur or the surrounding region to visit the Unicas branch located at: C-52 , Keshav Enclave, Janpath, Lal Kothi, Jaipur, 302015, Rajasthan.

Opening hours are 9.30am — 6pm, Monday to Saturday.

To see some pictures of the Unicas branch please visit this link.

· Unicas is the world’s first crypto financial institution to roll out physical branches

· Allows 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

Unicas is a joint venture between Cashaa and the United Multistate co-op society, 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.

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Unicas Opens World’s First Physical Crypto Banking Branch In Jaipur, India was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Cashaa will open accounts to India, USA, UK & Europe

Cashaa is excited to announce it is listing on KuCoin exchange to aid the adoption of its native CAS token in conjunction with the rollout of the world’s first crypto friendly banking platform. Cashaa will be aggressively rolling out its services across India, USA, UK & Europe over the next 3 months.

Cashaa already provides banking services to hundreds of leading crypto businesses. “KuCoin having 6 million users worldwide will significantly increase the awareness of Cashaa’s banking services and the accessibility of the CAS token” said Kumar Gaurav CEO of Cashaa.

In India, Cashaa will serve customers through it’s joint venture Unicas, which will be rolling out an online application and physical branches for its services.

Mr Gaurav stated “Our branches will be aimed at the education and introduction of cryptocurrency to the Indian population. This is a significant moment in history as these are the first physical branches to enable crypto friendly banking services.”

Johnny Lyu, CEO at KuCoin Global, said “Bringing crypto to the mass is one of the key missions at KuCoin, and we are excited about the physical crypto bank branches to be opened in India by UNICAS. The crypto adoption is inevitable and KuCoin will continue to support crypto gems that contribute to this goal.”

Cashaa has built a regulatory compliant banking platform which enables users to transact in fiat and crypto seamlessly from the one account dashboard. The platform gives its users access to the Indian banking system, Bank of England, European Central Bank, the Federal Reserve with JP Morgan as a Correspondent Bank.

The CAS token which will power the banking ecosystem and is an essential requirement to use Cashaa’s services. Utilities include: Activating bank accounts, discount on transaction and international wire fees, free FX and crypto exchange as well as staking for crypto debit cards and exclusive banking services.

From January, Cashaa will start offering its services to individuals and businesses in all 50 states of the USA, followed by the UK and Europe in February.

KuCoin Listing Schedule:

Trading will go live on Kucoin at 18:00 December 21, 2002 (UTC+8).

Deposits are open now

Withdrawals will open December 22, 2020

The Cashaa Team

The Next Generation Banking Platform

Cashaa Will List On KuCoin To Aid The Rollout Of Its Global Banking Platform was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Dear community members,

We have come a long way and through our global partnerships, we are ready to expand globally step by step. Now we are on an ambitious mission to change banking worldwide. Based on the latest opportunities and market conditions we have decided to scatter the launch into the following order of geographies:

1. India (Unicas)

2. USA

3. UK and Europe

4. Worldwide (Cashfi)

Our updated roadmap will be the following:

December 2020: Indian Market

Key tasks will be:

• Website of Unicas
• Modelling of Unicas branches
• Continue the training of existing United employees
• Marketing roadmap execution of Unicas with a marketing agency

Other tasks:

• Complete the development of CAS integration in the banking platform
• Continue development of the USD banking services
• Release the broker account in the new banking platform
• Hiring and training of operation and support employees in the USA

January 2021: USA Market

• Release of business and personal accounts in the USA market.
• Release the utility of CAS token in the internet banking platform
• Marketing roadmap execution of launch in the USA
• Hiring and training operational and support employees for the European market

February 2021: European Market

• Release of business & personal accounts in the European market.
• Marketing campaign for the launch in the UK and Europe
• Development of foreign exchange services with international money transfer
• Smart contract deployment of Cashaa DeFi (Cashfi)
• Development of CashFi consumer loans

March 2021: Worldwide (Cashfi)

• Release of foreign exchange services for personal and business users
• Release of Cashfi Beta in the Cashaa banking system
• Marketing campaign for Cashfi
• Development of a mobile application for Cashaa
• Development of the virtual cards (Mastercard, Visa, Rupay and Unionpay) generation

The team has made these changes in the roadmap for a smooth release and functioning of accounts considering the following factors.

1. Great market response for Unicas (Cashaa India):

On 27th Oct, we announced our joint venture with United to start branch banking in India with cryptocurrencies. United has received great response resulting in increased enquiries from customers in India. At the same time, Indian media has changed its views about cryptocurrencies after our announcement. From Forbes India, Mint, India TV, NDTV till regional newspapers is making us synonyms for Crypto in India.

We decide to fully capitalize this opportunity in India and hence most of our existing resources will be busy in supporting the launch of Unicas. Please find the list of media in India who covered this news: https://bit.ly/3kMCNPf

2. Unavailability of great Customer Support (Retail):

We are a young start-up working hard to bank underbanked users around the world. For the past year, our existing competencies have been handling business customers. Retail is a new business and we still have to build strong operational competencies within the company.

Our plan was to work with companies who are providing support to other fintech in Europe. However, now that the UK and Europe are entering into the second phase of COVID lockdown, the support centres will not be able to work as we had expected. Hence, we have decided to take a different approach to ensure our clients receive the best service possible.

Management has decided to build a team for operations and support for the upcoming retail unit in Gurgaon, India. We have selected this location as this city is home of the support and operation centre of multiple financial brands serving the European and USA markets such as Barclays, American Express, Bank of America, CitiGroup and many more. This will help us to easily acquire staff who are experienced and have the required skill set to provide quality support.

The retail support centre will open in December and we expect it will be ready to start providing support from the beginning of January.

3. Technical development status:

We are working together with our existing business customers to streamline the experience of our internet banking platform.

Personal accounts (GBP and EUR): We are experiencing some delays from one of our UK partners regulated by the FCA. We expected some functional features to be delivered by them on 13th November to automate onboarding. They are working hard to deliver the functionality needed however we have not received a clear deadline.

Business and retail accounts (USD): Integration is progressing well, we have had some minor delays from the team delivering our automated API for Fedwire and SWIFT, which is routed through JP Morgan, however, it will not impact the release of our USD accounts for business or personal.

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

Roadmap update 2020; for a global launch was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

A Preface for those new to DeFi

Decentralized finance (DeFi) is an application of Blockchain technology that promises transparency in money markets. DeFi platforms intend to build an alternative financial system for offering & receiving loans, asset management, trading & exchanging currencies, making payments, etc. With no involvements of banks, brokers, or trusted third parties, or governments. DeFi eliminated the middlemen.

DeFi has grown exponentially in 2020, with the total value locked (TVL) in DeFi protocols now exceeding $12 bn+. In Q2, 2020 DeFi became the third-largest category within Ethereum, accounting for 24% of the total activity. This was the result of only 4000 active wallets.

The fact that DeFi is a revolution is well established. However, there isn’t any exclusive DeFi project catering to all services seamlessly. The barriers to entry are high with a steep learning curve, which limits the adoption of DeFi by retail consumers. The global organized lending market is nearly $6.8 trillion. For DeFi to thrive, seamless integration of offerings to retail markets is needed.

Cashaa announces Cashfi — Defi for the masses

Cashaa was launched in 2018 with a vision to provide banking solutions to Crypto Businesses and Individuals. With a goal to provide one account for both old and new types of money, offering a comprehensive DeFi solution is another step to achieving this. After successfully running the primary function of a bank, Cashaa is uniquely positioned to be able to provide the bridge between decentralized and centralized finance.

Cashaa has partnered with Apple, Nike, Paytm, Peter England, Macy’s, Flipkart, and 2000+ other merchant partners to offer high discount (to the extent of 0%) consumer loans. Cashaa facilitates on-ramp and off-ramp solutions which enables it to provide these services directly via bank transfers.

Cashaa users will be able to take advantage of the growing DeFi ecosystem. Being present in the industry for a long time, Cashaa very well understands the nuances of the crypto markets like volatility. To safeguard its users from losing their collateral, Cashaa will soon offer collateral insurance services.

Empowering CAS Tokens

CAS is the utility token used to access Bank accounts and Fiat-Crypto-Fiat ramping services provided by Cashaa. The demand for these services will increase dramatically with billions of dollars being moved on and off the DeFi ecosystem. With thousands of Individuals & Businesses ready to access Cashaa’s accounts and corresponding services an exponential surge in the demand of CAS tokens will occur.

Cashaa will benefit from the hundreds of new people joining the DeFi revolution every day that do not want to deal with the sophisticated and rather technical process of operating DeFi protocols, including swaps and liquidity pools. We are creating a ‘super simple interface to DeFi’. Most services will work with just one click on your phone!
Cashaa aims to become the obvious choice for anyone starting with DeFi.

Cashfi will launch in Q2, 2021, with more details coming soon.

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

Cashaa brings DeFi was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Cashaa is proud to announce its joint venture with, The United Multistate Credit Co. Operative Society as part of its India expansion plan. The Joint Venture, UNICAS, will build the world’s first crypto-friendly financial institution with physical branches and operations. The UNICAS will start its operations in Dec 2020.

• Open saving accounts with crypto wallets
• Loan against cryptocurrencies, gold, and real estate
• Invest in cryptocurrencies, Bonds, and fixed deposits
• Rapid expansion to over 100 branches by 2022
• Buy cryptocurrency with cash in physical branches

The JV will enable Cashaa to access The United’s regulatory licenses, its physical branches, and overall banking Infrastructure. ‘This will allow us to build, scale and offer customized financial and crypto products for the local Indian markets’ said Mr. Dinesh Kukreja, Managing Director of United Multistate Credit Co. Operative Society, who has been appointed as the 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 north India. The United’s existing branches will be transformed and modernized as Crypto Lounges.

Members can walk into any of these branches and get educated about Cryptocurrencies 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 with the account balance in Indian Rupees. The immediate plan is to open these Crypto Lounges in Delhi, Gujarat, and Rajasthan covering a population of 150 million Indians living in these states. ‘We are looking forward to expanding our footprints across other Indian states from there on’ stated Mr. Kukreja.

Kumar Gaurav, Founder & CEO of Cashaa” stated ‘Most Indians are not aware or are miss guided about Cryptocurrency as an online product and they tend to trust what they see or what the government recognizes and recommends. Also, India is still largely a cash-based economy despite a Demonetization drive. With UNICAS Crypto lounges we intend to address both issues which are slowing the process of cryptocurrency adoption in India.’

In September, Cashaa had raised 5 Million USD (~35 crores INR) to expand its operations into the Indian market from a Dubai-based investment fund O1EX. During the covid-19 pandemic Cashaa which saw an 800% jump in its operations and businesses. Mr. Gaurav added ‘‘This made us feel that the moment was ripe for India to start inducting emerging technologies into its banking domain. This is the opportune moment for us to revolutionize the banking space and deliver Indian’s a world-class inclusive banking experience with cryptocurrencies.’

Under the leadership of Mr. Dinesh Kukreja, The United has been operating since 2012 and has been improving the lives of millions of Indians through its financial services. It is a member of the National Federation of Urban Co-operative Banks and Credit Societies Ltd. (NAFCUB) vide membership no. 1753 and certified with ISO 9001:2008 for Quality Management Systems. NAFCUB is an apex National Level Federation of Urban Co-operative Banks and Credit Societies. Currently, the United is providing savings accounts, cash deposits and withdrawals, multiple bonds, and investment products, and loans (home, gold, and consumer).

Speaking to the media, Mr. Dinesh Kukreja, MD The United & CEO of UNICAS, ‘We are entering into the future of financial services in India. Merging our decade of experience with Indian traditional finance with Cashaa’s international banking experience will bring enormous transformation to both Indian fintech and the crypto industry. We are the first regulated financial institution in the world with physical branches where users can access crypto products. By increasing our exposure to emerging technologies, we are aiming to rapidly expand to over 100 physical branches by 2021, employing thousands of skilled professionals in India.’ Our savings bank account holders will also be able to use their cryptocurrencies as collaterals to take loans, like any other traditional loan given by banks.

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

World’s First Crypto-Friendly Branches in India was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Having access to the existing banking system is the biggest problem all crypto companies in the world are facing. Cashaa has solved it. Yes, you heard it correctly. Crypto-related businesses are underserved by banks and our goal is to create a hassle-free experience for any business wanting to join the crypto revolution.

Cashaa went live with UK current accounts with limits up to 1 Billion GBP of incoming funds through its FCA regulated partners. In less than 100 days after the platform went online, 562 businesses registered on the platform to be on-boarded and herewith leaving their existing traditional banks.

This solution would have never been possible without our community members. As Cashaa is progressing with its product and became more than just a whitepaper written during the ICO boom of 2017, we decided to share our success from the business customers with all the CAS holders.

Cashaa Banking platform users can choose to stake to get waitlisted as well as get a quarterly bonus reward. Staking started for products in April 2019. The users interested in Cashaa’s personal account can stake based on their requirements.

As a UTILITY token, CAS enables its holders to access the Cashaa ecosystem:

1. Access to Cashaa’s banking services (like your regular bank account), we will just not shut you down for crypto activity.
2. 25% discount on transaction fees
3. Access to airdrops, seasonal discounts, trading competition and earning referral income.

STAKING benefits:

1. 25% of the fees collected from businesses will be shared with the Personal Users.

As we became one of the few companies in the industry with a working project. Only 1,000 accounts will be given every month starting from Jan 2021 based on the date of staking.

Reward structure:

If, for example, between June and September, Cashaa collected a total fee of 2 Million CAS. The distribution will be as per the table below.

* Reward per user = ( Bonus distributed to Personal users / Total stake amount ) x User tokens on Stake

Distribution date list:

Rules and terms of STAKING:

There is a minor change in the staking process. As we have moved to the Binance chain, we decided to leverage some of the advanced features which can bring transparency in the staking process. Once this system is implemented, staked tokens will be publicly visible on the Binance chain. However, this will have no impact on those users’ benefits who have already made their stake. Please read carefully to know what you have to do based on your staking date.

1. Staking will be done on the Binance network and all the stakes will be publicly visible on the Binance blockchain. Our developers are making sure that the staking process will be made very easy, without any complication.
2. Users can choose the period to stake between 3–12 months, from their Cashaa account.
3. Staking must be done before the first day of the quarter to become eligible for the benefit of the quarterly distribution. E.g. to be eligible for staking for the period of 1st July — 30th September you must have staked the tokens before 1st July 12:00 PM BST.
4. The minimum staking period to activate your banking services is reduced to 3 months.
5. To qualify for the waitlist for the banking services, your staking period must be until 31st Dec 2020.
6. Staking for the complete quarter is mandatory to get the quarterly reward. The tokens will automatically get unlocked on the last day of the stake quarter.
7. As per community request, we have updated the window time to renew the last stake, the window will last till the end of the 3rd day of every quarterly month. You need to have a minimum of 0.1 BNB to complete the process. Users can choose to stake for a longer duration to not miss the deadline. E.g.: Your last stake will get free on 30th DEC 30.12.2019 00:00:00 UTC, the deadline to stake again is until 3 Jan 23:59:59 UTC.
8. Users who have already done staking using ERC20 tokens must log in and use the new staking option to get eligible for the staking period of June — Sep 2019 after 10th August. There is no change in reward structure, it is only required because CAS has moved from ERC20 to BEP2. We apologize for the inconvenience.
9. The last date to participate in the Stake reward program is 31st March 2020

I have made my stake before 1st July 2019, what do I have to do?

If you have staked your CAS for 12 months to get the banking services we thank you for your patience and your trust in Cashaa. We are glad to announce the following:

1. Your stake will be now released on 31st Dec after which you can choose to stake again to get the quarterly rewards.
2. Your place on the waitlist for your Cashaa account remains unchanged for you to become an early adopter of the next generation banking system.
3. You are already qualified for the July — Sept 2019 staking benefit.

What happens if I stake on or after 1st September?

1. Now you only have to stake until 31st Dec (1 quarter) to activate banking services into your Cashaa account.
2. You do not have to wait 12 months for the release of your stake.
3. You will be waitlisted for your Cashaa account and become an early adopter of the next generation banking system.
4. You will be subscribed for the Oct-Dec 2019 staking or longer, depending on the period you have selected. Your stake will be released on 31st Dec, or you can choose to stake for a more extended duration to get the quarterly bonus every quarter.

I did not pay attention to Staking due to Chain migration news, can I still get any reward for the July-Sept period?

1. You can stake before 30th August to get the reward share from the Fee collected between 1st Sept — 30th Sep. The users who stake after 30th August will be considered as part of the next cycle (Oct-Dec 2019).

Please remember that there are users who staked their tokens before 30th June to get the stake and product benefit from the start, on 8th April.

Please do not raise a helpdesk ticket to know your reward status.

Read this document carefully and follow the terms and conditions to understand your eligibility.

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

Quarterly Staking Reward for Personal Users was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Prize Pool — 100,000 CAS

Cashaa is the first global crypto-friendly neo bank. Help spread awareness about Cashaa and its CAS token via Twitter and get rewarded based on the engagement of your tweets/retweets.

The prize pool will be distributed to all participants in accordance with the total number of points they accumulate during the competition period.

How to earn Points:

Create your own original tweets including one or more of: $CAS | #CAS | #Cashaa | @yourcashaa

Tweet:

1 Point For Each Like

2 Points For Each Comment

3 Points Each Time Your Tweet is Retweeted

Retweet:

1 point For Each Retweet of Another’s Cashaa Related Tweet

Competition Period:

15th October — 15th November

Requirements:

• Complete this form with your Twitter Username & BEP 2 Address.
• Follow @YourCashaa and @Kg_Cashaa
• Start tweeting, your points will be automatically calculated

No limit on the number of tweets

Accounts buying fake followers, likes or comments will be ineligible.

Good luck!!

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

Hashtag for the CAS Bag — Twitter Competition was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

It was not an easy feat, Mr Kumar Gaurav, Founder & CEO of Cashaa, revealed speaking to the media. “We are standing at a defining moment in the history of banking, and a milestone for Cashaa. It was not an easy task to bring services from multiple jurisdictions under one platform. We had to go through multiple iterations and legal structures to finally accomplish it. With the platform going live across world major markets we are redefining the banking systems as we know them.”

Cashaa started providing banking services using partners platforms in August 2019. Regulators and banks used to judge companies based on the industry they are such as cryptocurrencies, gaming, gambling etc. To prove that not all the companies dealing in cryptocurrencies were involved in money laundering, Cashaa onboarded over 200 crypto companies in the last 12 months, through which it collected massive data for its regulators and banks. With a vision to create a better bank, Cashaa worked with multiple regulated entities over the years and was dependent on their banking platform capabilities. The launch will see our new and existing clients being offered business and personal banking facilities with all services being enabled through Cashaa’s proprietary internet banking platform.

In recent times we are seeing an increase in the number of traditional banks that are collapsing. In all of this, the average public is losing faith in the banking systems. Almost all top banks today, stand vindicated of ignoring regulatory and basic statutory practices. Apart from this, several big names in the crypto exchanges industry and players in the crypto space have come under the radar for malpractices. Hence, we took a conscious decision to tighten even more our KYC, AML, due diligence, and sanction check processes before starting our own internet banking platform.

In the UK and Europe, Cashaa will be offering its services in partnership with FCA regulated EMI, which include CFS-Zipp and PaySafe Group. Cashaa’s service for businesses in the UK and Europe will commence on target in October itself and the USA operation will be fully functional In December. Its US Dollar services will be provided through a Colorado chartered Trust which allows it to access the Federal Banking system. This Trust is already having a master escrow account with the Federal Reserve Bank of Kansas City and J P Morgan as a Correspondent Bank. The escrow deposits will be the direct liabilities of the Federal Reserve to the Trust. Therefore, the Federal Reserve system’s obligation to fully repay its liability to the Trust is the same as the Federal Reserve’s legal obligation to pay Federal reserve notes, I.E. and U.S. paper currency. There will be a smooth onboarding process for global companies since Cashaa has already onboarded a few big brands from multiple jurisdictions such as from the UK, Europe, Singapore, Hong Kong, UAE, Caribbean, and the USA. Among the hundreds of companies that have been onboarded during BETA includes Paxful, Nexo, CoinDCX, and Unocoin.

Kumar further added “Our first priority is to move our existing business customers from partner platforms to our proprietary crypto-friendly banking platform to give them the banking experience which they deserve. Our Internet banking platform will be powered using our utility token CAS. As our system is going into an operational state, CAS will become the key to the world’s first crypto-friendly financial institution.”

From November Cashaa will also start issuing personal accounts, which will create retail consumption for the CAS token. As the utility token of the Cashaa platform, CAS has multiple utilities such as huge discounts on FX and transaction fees, cheaper international transfers, ability to spend it anywhere through debit cards, exclusive rewards, and crypto-friendly banking services.

Watch the Kumar (Cashaa CEO) AMA at https://youtu.be/FSsoFFyLH-Q

The Cashaa Team

If you liked this article, give it a bundle of “clap” to help people discover it!

Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

Cashaa launches the world’s first global crypto-friendly banking platform was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.

Thanks for participating in the MXC <> Cashaa Telegram AMA.

Our very own lovely Blockchain Girl talked to thousands of MXC Telegram community members. In case you missed the AMA here is the summary of the AMA.

Introduction section where Janina introduced Cashaa to MXC community:

Cashaa is the largest crypto-friendly neo-bank based in the UK, providing services to more than 1400+ businesses from the crypto industry. Our partners include Paysafe Group and many others, including financial institutions and trusts regulated by the FCA, Central Bank of Lithuania, and Colorado Division of Banking. Existing services:

1. UK current account

2. Euro IBAN account

3. Card processing, powered by Paysafe

4. Exchange services for BTC, ETH, CAS and USDT in INR, Euro, and GBP

Please have a read through the white paper, especially the roadmap section, to know everything important about us and to be able to answer our quiz round later:

https://storage.googleapis.com/cashaa-cdn/cashaa-bank/pdf/Cashaa_whitepaper_v2.pdf

Community Questions:

Janina picked 5 questions whose answers are below.

1.If you summarize the Cashaa project in one word, what would it be? What are the core features that create the value of CAS. Can you share some highlights from them?

‘Neobank’, as we can give you all the features of traditional banks, but without excluding anyone based on the industry they’re in.

Since our launch in 2019, we are now the largest crypto-friendly banking service provider in Europe. With a growing utility and more products being launched in the coming days, CAS coin demand is constantly growing as it is required by everyone in the world who is dealing in crypto.

2. What is the ecosystem of Cashaa? What is the role of CAS in the ecosystem?

Cashaa ecosystem is everything about banking. We are building a better bank that understands and supports cryptocurrencies.

Currently, most of our services are only for the crypto businesses, including GBP and Euro IBAN accounts, card processing powered by Paysafe, and Visa Card issuance for Business.

We do have a crypto wallet for personal users with on-chain transaction monitoring, to make sure our users stay compliant and do not deal with bad actors in the crypto world. Our wallet allows storing and converting fiat (Euro, GBP, INR, and USD — coming next week) to Bitcoin, Ether, CAS coin, and USDT.

Cashaa (CAS) powers the Cashaa banking ecosystem. As the native coin of the Cashaa platform, CAS has multiple utilities such as application processing fees, set up fees, discounted international wire, exchange fees, transaction fees, and access to crypto-friendly banking services restricted only for CAS holders.

3. Does CAS have a lock-up, and community activities to raise awareness and bring mass adoption?

We have a lock-up token for 3 years with an annual vesting period that belongs to the company, team and advisors, and community fund.

50 Million (5% of total supply) CAS tokens were dedicated to community events, which will be used for community activities and to reward great contributions.

There are many upcoming initiatives are coming for mass adoption for the awareness of Cashaa among billions of people, one of them which is already announced is Crypto Bulls Roadshow in India in partnership with the government to establish us as one of the successful crypto banks in India. More details at https://news.bitcoin.com/crypto-bulls-roadshow-india/

4. It is challenging to build banking services, what are the problems Cashaa had to go through to build itself?

Crypto-related businesses are underserved by existing banks. Our mission is to create a hassle-free experience for the entire crypto industry including exchanges, wallets, traders, and holders who are harassed regularly by existing banks, and charged huge fees.

Thanks to our focus on compliance and AML and our comprehensive tools with which we were able to make crypto transactions compliant with regular banking, we got a huge advantage due to which we got partnerships with banks and other regulated companies. We are just starting with the underbanked crypto industry but our aim is to become the largest banking platform in the world with Bitcoin and CAScoin.

5. Does Cashaa also support staking? If so, how can users stake their CAS tokens?

We have a staking program of 100,000 CAS to allow personal users to get access to crypto-friendly international banking.

The opening of personal accounts will start in July 2020. Only 21,000 Personal premium accounts with Visa cards will be issued in 2020 to give our international banking advantages to the early Cashaa adopters.

Follow Cashaa on Twitter and Join on Telegram to not miss the amazing banking services.

https://twitter.com/yourcashaa

https://t.me/CashaaLtd

Quiz Section:

1. Name 3 CAS utilities: Banking (Business), Account Limit (Business), Crypto Exchange Fee, Transaction fees, Int. transfer fees and FX Banking (Personal)
2. When we are launching Visa Card programs for exchanges and crypto companies for their community? Q3 2020 (July-September)
3. When will Cashaa launch USD accounts for personal and business users?Q3 2020 (July-September)
4. In which country does Cashaa help you to get a crypto license to start an exchange or crypto business? Estonia

Follow Janina on Twitter to keep in touch after the AMA @blockchaingirl

Your Cashaa Team

The Next Generation Banking Platform

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Handy links:

Website | $CAS Token | Telegram | Twitter | Facebook | LinkedIn | YouTube

MXC <> Cashaa AMA with Janina Lowisz was originally published in Cashaa on Medium, where people are continuing the conversation by highlighting and responding to this story.