India online crypto bank United Multistate co-op society (UNICAS) has launched the world’s first physical crypto bank in Jaipur. The Cashaa team announced the launch of the first physical crypto bank on the 28th of December. Customers can now access instant digital loans with digital assets as collateral.
The announcement revealed Unicas’ plans to roll out 14 additional branches in January and onboard 25,000 customers within the first quarter of the coming year. The branches will be launched across NCR, Gujarat, and Rajasthan. In partnership with the online banking platform Cashsaa, Unicas has further plans to open 100 more physical crypto banks by 2022.
The CEO of Unicas, Dinesh Kukreja, commented on the plan to roll out more branches:
“This will allow us to build, scale and offer customized financial and crypto products for local Indian markets.”
Cashaa CEO Kumar Gaurav noted that Unicas would also provide information on “the level of convenience and security” related to blockchain technology. Speaking further, Gaurav said:
“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 the announcement, the Cashaa team stated that the physical crypto bank would open on Mondays to Saturdays from 9:30 am – 6 pm.
Image Credits: Pixabay
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