Crypto Bank Grows in India – Confident Government Will Endorse Legitimate Use of Cryptocurrencies – Bitcoin Regulation News


Crypto bank Unicas, a joint venture between Cashaa and United Multi State Credit Cooperative Society, has expanded its operations by opening another physical branch. The bank believes the Indian government will introduce positive crypto regulation and not impose an outright ban on cryptocurrencies such as bitcoin..

Opening of a new physical branch of Crypto Bank in New Delhi

Physical crypto-bank Unicas has opened another branch, Cashaa announced last week. Unicas is a joint venture between crypto-banking platform Cashaa and United Multistate Credit Cooperative Society. Noting that this will be the first of many branches in the city, the announcement details:

Unicas – the world’s first crypto financial institution with physical branches opened today in the Indian capital, New Delhi. Unicas is counting on the Indian government to introduce a bill to approve the legitimate use of the cryptocurrency.

“We are proud to bring Unicas to the nation’s capital,” commented Unicas CEO Dinesh Kukreja. “Delhi is a key market for us and we look forward to opening many branches to service the rapidly growing crypto market in India in a regulated manner.”

The new branch is located at 611 A Devika Tower, Nehru Place, New Delhi 110019. This location is a short drive from the Indian Parliament. The bank is headquartered in Jaipur and currently has another branch located in Gujarat. According to Cashaa:

Unicas will continue to deploy its branches across NCT, Gujarat and Rajasthan. It plans to open 50 branches in 2021 and 100 branches by the end of 2022.

Customers will have access to a number of cryptocurrencies through Unicas, including BTC, ETH, XRP, and CAS, Cashaa’s native token.

Cashaa CEO Kumar Gaurav said:

We are very confident that the government will create regulations that will reduce cryptocurrency-related scams, while encouraging its legitimate use. Such regulations will allow India to become a world leader in blockchain technology.

The Indian government is preparing to introduce the cryptocurrency bill. It aims to provide a regulatory framework for the digital rupee to be issued by the Reserve Bank of India (RBI) but to ban private cryptocurrencies. The Ministry of Finance recently confirmed that the bill is still being finalized. Meanwhile, the central bank governor revealed last week that the bank is working on the digital rupee and has raised concerns with the government about cryptocurrencies.

What do you think of Unicas’ opening of more physical bank branches? Let us know in the comments section below.

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bank branches, bitcoin regulation, Cashaa, crypto bank india, crypto bank new delhi, crypto bill, crypto regulation, indian crypto regulation, physical crypto bank, unicas, United

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