Physical Crypto Bank Opens in India – These 14 Locations Offer In-Person Banking, Lending, and Crypto Exchanges – Bitcoin News

A crypto bank has started opening physical branches in India through a joint venture between Cashaa and the cooperative United Multistate. 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 started rolling out physical branches in India. The first branch has opened in Jaipur, the bank announced on Monday.

“Unicas initially opens its services online and through 14 branches in 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 said “this will allow us to build, scale and offer customized financial and crypto products for local Indian markets.”

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

Addresses of the 14 branches of the crypto bank Unicas. Source: Cashaa

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

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

Unicas crypto bank lobby.
Unicas crypto bank learning center.

Cashaa CEO Kumar Gaurav explained that in addition to banking services, “Unicas will also provide information and advice on the level of convenience and security that blockchain technology offers.”

His company provides online banking services to more than 200 crypto exchanges, wallets, and startups dealing with crypto. The announcement adds that the joint venture gives Cashaa “access to United’s regulatory licenses, physical branches and global banking infrastructure.”

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

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons, Cashaa

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