First physical Crypto Bank branch of UNICAS launched in India

Cashaa and United Multistate Credit Cooperative Society have now launched crypto bank UNICAS's first physical branch in Jaipur, India that allows users to transact in cryptocurrency and fiat from one account.

In October 2020, Casshaa announced its collaboration with United Multistate Credit Cooperative Society to build a crypto-friendly financial institution called UNICAS.  

Cashaa is the largest crypto-friendly neo-bank based in the UK, offering services to lots of crypto businesses across the globe.

Kumar Gaurav, CEO, and Founder of Cashaa, said, "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."

Mr. Dinesh Kukreja, CEO of Unicas, said, "This will allow us to build, scale, and offer customized financial and crypto products for the local Indian markets."

The joint partnership deal will help Cashaa to access the United Multistate co-op society's regulatory license, its physical branches, and banking infrastructure.

The bank with the name UNICAS is initially opening its services online and via 14 branches across Gujarat, NCR, and Rajasthan by the month of January 2021 and plans to expand to 100 branches by the end of 2022.

With the opening of 14 branches, UNICAS aims to onboards 25000 customers by the end of March 2021. Cashaa has already been offering its services to more than 200 crypto-exchanges, startups, and wallets dealing in cryptocurrency.