New Delhi: Cryptocurrency bank Cashaa will soon launch banking operations in India for customers of virtual currencies like Bitcoin from August.
Cashaa founder and CEO Kumar Gaurav said, “Cashaa says it’s launched Unicas, the world’s first crypto-friendly financial organization with physical branches in India in association with the United Multistate Credit Co-operative Society. It allows services for both crypto and fiat (currencies) from one bank account .”
“We will be coming to India next month. We will be launching personal bank accounts in order that personal traders can do Peer to see trading. Cryptocurrency traders are going to be ready to transact without worrying of their bank accounts being frozen,” said Kumar Gaurav, CEO and Founder, Cashaa.
Also, Cashaa also will offer debit cards and loans against cryptocurrencies also as loans for purchasing cryptocurrencies, Gaurav said.
According to reports, Cryptocurrency bank Cashaa plans to extend loans to buy cryptocurrencies and open savings accounts for its customers. Meanwhile, the government is also planning to bring in a law to regulate cryptocurrencies.
Operations will start in New Delhi, Gujarat and Rajasthan with plans to expand to Maharashtra, Uttar Pradesh and West Bengal gradually.
However, the Finance Ministry and the RBI did not respond to queries about the legal position of Cashaa’s bank.
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