United Multistate Credit Cooperative Society and Cashaa have now introduced crypto bank. UNICAS’s has launched its first physical branch in Jaipur, India. It enables users to trade in fiat and crypto from one account. In October 2020, Cashaa announced its association with United Multistate Credit Cooperative Society to develop a crypto-friendly financial institution named UNICAS.
Moreover, UNICAS is originally launching its services online and via 14 branches over Rajasthan, NCR, and Gujarat by January 2021. It also intends to expand to 100 branches by the end of 2022 quickly. The first physical UNICAS branch is located at C-52, Keshav Enclave, Janpath, Lal Kothi, Jaipur, 302015, Rajasthan. Its opening hours are 9.30 am — 6 pm. The services are accessible from Monday to Saturday.
Services offered by UNICAS in India
With the crypto bank, users will be capable of depositing and withdrawing via a savings account. It will work the same way with conventional banks in India. This is a major milestone globally as a financial institution has allowed cryptocurrency trade via physical branches. UNICAS will be offering banking services for both fiat and crypto-assets. Services involve crypto exchange, savings accounts,
crypto loans, and debit cards to consume crypto. Additionally, users may get an instantaneous loan digitally by placing crypto assets in the UNICAS wallet. One has to request a similar value of INR on their card or bank account.
The Cashaa and UNICAS amalgamate synergies of their varied experience to enhance both the crypto industry and the Indian fintech landscape. However, with the launch of the initial 14 branches, UNICAS intends to attract 25,000 consumers in the Q1 of 2021. Cashaa offers its services to more than 200 wallets, crypto exchanges, and startups trading in crypto.
Moreover, the firm plans to create crypto education centers in the United Multistate Credit Cooperative Society location. Kumar Gaurav, CEO of Cashaa, elucidates that people in India are not familiar with cryptocurrency and plans to adhere to the conventional system.
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