Cashaa, the French Cryptocurrency Bank is all set to launch its operation in India, which will help the cryptocurrency investors and exchanges in overcoming the day-to-day banking issues they face. Cashaa is going to launch a personal bank account which will make peer-to-peer trading possible. The mission of Cashaa is to bank the unbanked crypto industry. As the crypto revolution is gaining momentum across the world, Cashaa aims to create a better banking system in India for the crypto industry.
Other than personal banking, Cashaa will offer other banking solutions like debit cards and loans against cryptocurrency. Initial operations will begin in New Delhi, Gujarat, and Rajasthan, with future expansion plans in Maharashtra, Uttar Pradesh, and West Bengal.
The vision of Cashaa India is to acquire around five million customers. The current beta platform caters to 250 crypto businesses, with the likes of Nexo and Huobi. In the Indian Cryptocurrency Market, Cashaa caters to CoinDCX, UnoCoin, and many more.
The focus of Cashaa is always on compliance and regulations and it is also recommended on the lists of KPMG. Cashaa has industry recognition in managing risks in the crypto and FinTech industry. Cashaa will operate in both online as well as physical formats. It has already opened three branches and is now working on a franchise model with a vision to expand to over 100 branches. However, cryptocurrencies are still looking for a go-ahead from India’s banking regulator, RBI, and also the Supreme Court of India. The market needs banks like Cashaa to ensure seamless banking services with reference to cryptocurrencies.