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This crypto startup provides a single bank account for fiat and cryptocurrency, and the service is available to individuals and commercial banks.
Although banking has always been a fast-growing industry, some industries, such as entertainment, gaming, and gambling, remain obsolete and are often barred from using traditional banking services. Crypto currency is also an industry.
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Cashaa, a revolutionary system in the cryptocurrency banking space, can now provide individuals and businesses in these industries with a trouble-free banking platform. The goal is to create a banking system where people and businesses can exchange money on both the fiat and crypto dashboard.
The idea behind the brand is to bank the global crypto economy. The brand aims to better match the traditional banking system on the backbone of the blockchain.
The brand offers a single bank account for fiat and cryptocurrency, and the service is available to individuals and commercial banks.
Tech Panda He spoke to Cashaa CEO and Founder Kumar Gaurav about the symptoms they are trying to address.
Kumer Gaurav
One of the biggest challenges for crypto companies is access to banking and payment infrastructure. Here at Cashaa, we are trying to help these companies find critical banking solutions to use their assets in a better and easier way
“One of the biggest challenges for cryptocurrency companies is access to banking and payment infrastructure. Here in Cashaa, we are trying to help these companies find critical banking solutions to use their assets in a better and easier way,” he said.
What do they do
To understand what Cashaa does, consider how an individual uses a traditional bank. Someone goes to a traditional bank, deposits an INR, takes credit from a deposit or withdraws the money.
At Cashaa, one can use all these banking services on crypto assets with INR. The services are available for private banking and commercial banking, both.
Simply put, if you want to buy something but don’t have enough liquid, you can keep your crypto as a guarantee. After the loan is repaid, you will receive the same crypto amount in terms of market value
“Like any other bank, we can give you a loan on your property. Simply put, if you want to buy something but don’t have enough liquid, you can keep your crypto as a guarantee.
Currently, this feature is only available to institutional clients with a loan amount of at least $ 500,000.
The main points of the services include:
- A single global account to manage both fiat and crypto
- Send and receive domestic and international payments and keep track of your expenses over time
- Internationally accepted credit and debit cards
- Withdraw funds directly in domestic currency
- Buy and sell crypto with no hidden fees
Origin and inspiration.
Cashaa launched in 2016 from the UK to Asia and Africa as a P2P money transfer service, using Bitcoin and facing banking challenges.
“As more and more companies began accepting Bitcoin and other cryptocurrencies in 2017-2018, we decided to solve this problem for the entire crypto industry. That’s how we started building a crypto-banking platform for old and new currencies,” Kummer recalls.
Dinner USP
Cashaa currently claims to be the largest crypto-friendly banking platform, providing banking services to more than 430 crypto companies.
“We have successfully introduced Titans, including Binance, BitBns, CoinDCX, Paxful, Polygon, but also small beginners in this field,” Kumer said proudly.
Now crypto is a tax in India, which makes it legal, we have a lot of demand from customers as fear has started to spread in this industry.
Being a pioneer in the industry is one of the reasons why competitors are not bothered by Kumer.
“We are the first company in the world to do this. This gives us a name in the industry and creates brand power. It is a difficult business model to copy and we have very few competitors,” he added.
History of development
Cashaa recently launched private accounts, offering up to 24% interest for cryptocurrencies.
“Our personal accounts have been successful so far. We have given private users access to their assets more efficiently, which has given them the greatest demand in the market. Private users have started moving their assets to Cashaa Wallet, and now they are gaining more and more interest in their sleep assets,” Kumer says.
The company has partnered with United Multi-Credit Credit Operations Society to launch UNICAS, a financial institution with operations and operations. The company has already opened two in Connaut Plus in New Delhi and plans to open 22 more.
“Now crypto is a tax in India, which makes it legal. We had a lot of interest from customers because fear has started to spread in this industry,” he said.
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Cashaa is currently banking on more than 200 crypto businesses, including Nexo, Huobi, CoinDCX and Unocoin.
Investments in crypto startups are currently huge in India. Kumer says investors are excited about the Indian market because of its huge size.
“This is a great market with very few players, and the pool of potential is huge.”
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