A crypto bank started to open physical branches in India through a joint venture between Cashaa and the cooperative society United Multistate. Customers can open bank accounts, buy and sell cryptocurrencies, obtain secured loans with crypto and learn more about the technology. The first branch opened in Jaipur, the bank announced on Monday.
Unicas is initially opening its services online and through 14 branches in NCR, Rajasthan and Gujarat by January 2022, and plans to rapidly expand to 100 branches by the end of 2022 ”, details the announcement. Unicas CEO, Dinesh Kukreja, commented that “This will allow us to build, scale and offer customized financial and crypto products for local Indian markets.
A Cashaa spokesman told news.Bitcoin.com that "The next 13 branches will all be implemented between January 4th and 22nd." He also shared some details of the 14 branches, including their addresses and phone numbers.
It was noted that “Unicas intends to integrate 25,000 customers in the first quarter of 2022”, the announcement continues:
Unicas will provide banking services for fiduciary and crypto assets. Services include savings accounts, cryptocurrency exchange, cryptocurrency lending and debit cards for spending cryptocurrencies. Users can receive an instant loan digitally, depositing assets in Unicas' wallet and requesting the equivalent amount of INR on their card or bank account.
Cashaa CEO Kumar Gaurav explained that, in addition to banking services, “Unicas will also provide information and guidance on the level of convenience and security that blockchain technology offers.”
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