Cashaa Announces U.S. Dollar Bank Accounts For Cryptocurrency Firms

Cashaa has announced the addition of the US Dollar bank accounts to its platform. Cashaa has introduced this service in partnership with the Metropolitan Commercial Bank, which is a full-service commercial bank headquartered in New York City.

The US Dollar bank accounts will be facilitated by automated the clearing house (ACH) and limitless SWIFT access. The customers will have to shell out a one-time setup fee of 250,000 CAS, which is a Cashaa’s native digital currency.

Executive Opinion

Co-Founder and VP marketing, Cashaa, Janina Lowisz, said, "As our world is changing, new types of businesses are evolving. Traditional banks currently underserve crypto-related businesses. Our goal is to create a hassle-free experience for all businesses who are building new technologies and business models. The addition of US Dollar accounts is an important milestone for the crypto community and us. We want to thank our community and all businesses so far who have trusted Cashaa to solve their banking problems."

Chief Product Officer, Cashaa, Archit Aggarwal, said, "Our automated process and ability to understand crypto businesses have made us a leader in the European crypto banking space. Our products are designed for startups as well as unicorns in the crypto industry, who are our customers. Since our pre-compliance team started working, our onboarding speed has doubled with our UK regulated partner entities. Partnering with a US bank will help us expand our services to the USA as well as provide our existing customers more opportunities."

Cashaa's USD Bank Accounts Support

As per the reports, Cashaa's highly anticipated project is much more designed to cater to the requirements of the cryptocurrency businesses that face the issues while opening a corporate account in the US territory.

These entities face difficulty primarily because of the traditional banking system that has been hesitant in giving the necessary helping hand to the crypto arena because of the regulatory measures.

Similar to the UK account holders, the US dollar account holders will have access to the platform's multi-sig wallet and exchange functionality for the Bitcoin transactions.
This year in April, Cashaa initiated cryptocurrency purchase with the help of debit and credit cards while in October 2019, the firm triggered a Bitcoin purchasing facility for the Indian customers using the native currency.

Cashaa is a well-known and entrusted entity in the banking sector. It provides an array of crucial sectors like the international SWIFT transfers for the fiat currency, International Bank Account Number, credit card processing for the crypto businesses, etc.