UNICAS Launches India’s First Crypto Bank Branch in Jaipur

UNICAS: A Revolutionary Crypto Banking Initiative in India

UNICAS, a joint venture by United Multistate Credit Cooperative Society and Cashaa, has opened its first crypto bank branch in Jaipur, India. This groundbreaking initiative enables customers to transact in both fiat and cryptocurrency through a single account.

The first physical branch, located at C-52, Keshav Enclave, Janpath, Lal Kothi, Jaipur, operates from 9:30 AM to 6:00 PM, Monday to Saturday. UNICAS plans to expand its services across 14 branches in Rajasthan, NCR, and Gujarat by January 2021 and aims to reach 100 branches by the end of 2022.

What Services Does UNICAS Offer?

UNICAS is the first financial institution to merge traditional banking with cryptocurrency trading in physical branches. Customers can access a range of services, including:

1. Savings Accounts:

   • Deposit and withdraw funds in both fiat and cryptocurrency.
   • Operates like traditional bank accounts but with added crypto functionality.

2. Crypto Exchange:

   • Buy, sell, and trade cryptocurrencies like Bitcoin and Ethereum directly from your account.

3. Crypto Loans:

   • Obtain instant loans by using crypto assets as collateral.
   • Funds are credited to the user’s bank account or debit card.

4. Debit Cards:

   • Use your crypto holdings for everyday transactions with crypto-enabled debit cards.

5. Crypto Education Centers:

   • Educating the public about cryptocurrencies to bridge the knowledge gap in India.

UNICAS: A Milestone for India’s Crypto Industry

The launch of UNICAS’s physical crypto bank branch marks a significant step for cryptocurrency adoption in India. By offering crypto banking services in a traditional branch format, UNICAS is setting a global precedent for integrating cryptocurrencies into mainstream banking.

Key Goals and Impact:

• Attract 25,000 Customers: Targeting this milestone in Q1 2021 with 14 branches.
• Expand Crypto Awareness: Through education centers at branch locations.
• Promote Financial Inclusion: Combining fiat and crypto to reach a broader audience.

Cashaa and United Multistate’s Collaboration

Cashaa, a global cryptocurrency platform, and United Multistate Credit Cooperative Society, a well-established financial institution, have merged their expertise to create UNICAS.

Cashaa’s Role:

• Serving 200+ wallets, crypto exchanges, and startups globally.
• Offering robust crypto solutions and technology integration.

United Multistate’s Role:

• Leveraging its extensive network to provide banking infrastructure.
• Facilitating the seamless onboarding of Indian customers into the crypto ecosystem.

Kumar Gaurav’s Vision for Crypto in India

Kumar Gaurav, CEO of Cashaa, envisions UNICAS as a bridge between cryptocurrency and traditional banking systems in India. He emphasizes:

• The need to educate the Indian population about cryptocurrency.
• The importance of integrating crypto into the conventional financial system.

By doing so, Gaurav aims to make cryptocurrencies accessible and mainstream across India.

Future Prospects for UNICAS

With its unique blend of fiat and crypto services, UNICAS is poised to revolutionize the Indian fintech landscape. Its ambitious expansion plans and customer-centric approach are likely to drive widespread adoption of cryptocurrencies in the country.

Looking Ahead:

• Expansion Goals: 100 branches by the end of 2022.
• Increased Adoption: Targeting mass-market penetration through education and accessibility.

Conclusion

The launch of UNICAS’s crypto bank in Jaipur is a transformative moment for India’s financial ecosystem. By integrating cryptocurrency services into physical bank branches, UNICAS is pioneering a new era of banking.

With its comprehensive services and plans to expand rapidly, UNICAS is set to play a pivotal role in making cryptocurrencies a part of everyday financial life in India.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.