Categories: News

Physical Crypto Bank Opens in India — These 14 Locations Offer In-Person Banking, Lending, Crypto Exchange

A crypto bank has begun opening physical branches in India through a joint venture between Cashaa and United Multistate co-op society. Customers can open bank accounts, buy and sell cryptocurrencies, obtain crypto-backed loans, as well as learn about crypto.

Crypto Bank Opens Physical Branches

Crypto bank Unicas, a joint venture between Cashaa and United Multistate Credit Co. Operative Society, has begun rolling out physical branches in India. The first branch has opened in Jaipur, the bank announced Monday.

“Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to rapidly expand to 100 branches by the end of 2022,” the announcement details. Unicas CEO Dinesh Kukreja commented that “This will allow us to build, scale and offer customized financial and crypto products for the local Indian markets.”

A spokesperson for Cashaa told news.Bitcoin.com that “The next 13 branches will all be rolled out between 4 – 22 January.” He also shared some details of the 14 branches, including their addresses and phone numbers.

Addresses and contact numbers of Unicas crypto bank’s 14 branches. Source: Cashaa

Noting that “Unicas aims to onboard 25,000 customers within the first quarter of 2021,” the announcement continues:

Unicas will be providing banking services for both fiat and crypto assets. Services include savings accounts, crypto exchange, crypto loan and debit cards to spend crypto. Users may receive an instant loan digitally by depositing crypto assets in the Unicas wallet and requesting the equivalent value of INR on their card or bank account.

Unicas crypto bank’s lobby.
Unicas crypto bank’s learning center.

<

p style=”text-align: center”> if (!window.GrowJs) { (function () { var s = document.createElement(‘script’); s.async = true; s.type = ‘text/javascript’; s.src = ‘https://bitcoinads.growadvertising.com/adserve/app’; var n = document.getElementsByTagName(“script”)[0]; n.parentNode.insertBefore(s, n); }()); } var GrowJs = GrowJs || {}; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push({ node: document.currentScript.parentElement, handler: function (node) { var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); } });

Cashaa CEO Kumar Gaurav explained that besides banking, “Unicas will also provide information and guidance on the level of convenience and security that blockchain technology offers.”

His company has been providing online banking services to more than 200 crypto exchanges, wallets, and startups dealing in crypto. The announcement adds that the joint venture enables Cashaa to “access United’s regulatory licenses, its physical branches, and overall banking Infrastructure.”

Do you think physical bank branches will help crypto adoption? Let us know in the comments section below.

The post Physical Crypto Bank Opens in India — These 14 Locations Offer In-Person Banking, Lending, Crypto Exchange appeared first on Bitcoin News.

[…]
Learn more

crypto

Leave a Comment

Recent Posts

Mt. Gox Bitcoin Movements: Market Impact and Ex-Client Risks

The defunct cryptocurrency exchange Mt. Gox is making waves again, this time with huge Bitcoin…

5 months ago

Taproot Assets: Revolutionizing Bitcoin’s Lightning Network

Lightning Labs, a leading developer in Bitcoin's Lightning Network ecosystem, has launched a groundbreaking protocol…

5 months ago

Whale With Ethereum Foundation Link Transfers 92,500 ETH Worth $288M 

According to onchain data, a significant whale holding over 92,500 ether moved the funds to…

5 months ago

Discover the Skinny Bob MemeCoin: NFTs, Multi-Chain, and Cosmic Humor

🛸Inspired by the internet's favorite extraterrestrial, Skinny Bob MemeCoin is revolutionizing the cryptosphere across multiple…

5 months ago

Uncovering the Risks of NFTs for Creators and Buyers

NFTs, or non-fungible tokens, are transforming various industries, including art, music, sports, and real estate.…

5 months ago

Proton Technologies AG Unveils Open Source Bitcoin Wallet

Proton Technologies AG, the Swiss company renowned for its encrypted email and VPN services, has…

5 months ago