India is in favor of cryptocurrencies and opens the world’s first physical crypto bank

India is in favor of cryptocurrencies and opens the world’s first physical crypto bank

With crypto regulations approaching, the world’s first physical crypto banking branch is opening in Jaipur, India.


30 Dec 2020 , 18:01 @ Katie Müller

India is in favor of cryptocurrencies and opens the world’s first physical crypto bank

With crypto regulations approaching, the world’s first physical crypto banking branch is opening in Jaipur, India.

India seems to have a clear goal, and after announcing yesterday that it wants to define cryptocurrencies as intangible assets, we are witnessing another important report today.

London-based Cashaa, the company behind the next-generation banking platform, announced that it is opening the world’s first physical crypto banking branch in Jaipur, India through a joint venture called Unicas. 

Unicas is a joint venture between Cashaa and the United Multistate Coop Society, which mediates crypto and fiat trading through a one account.

This crypto bank is thus the first physical branch that customers can visit in person. Among the products that Cashaa offers are traditional banking services, the purchase and sale of cryptocurrencies, as well as immediate crypto loans. Customers will also welcome the opportunity to trade through a single account in INR and at the same time in cryptocurrencies.

Kumar Gaurav, CEO and Founder of Cashaa, sees a clear goal, which is to create a digital landscape:

If we are planning to move ahead with the aim of digital India then we cannot hesitate in adopting new technologies and finding innovative ways to bring it to Tier 1 and Tier 2 cities in India. In addition to banking, Unicas will also provide information and guidance on the level of convenience and security that blockchain technology offers.

The world’s first physical crypto bank is open from Monday to Saturday from 9.30am – 6pm and its exact location is C-52, Keshav Enclave, Janpath, Lal Kothi, Jaipur, 302015, Rajasthan.

Read also: India wants to tax cryptocurrencies at 18% and increase the government budget

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