Unicas, a crypto-friendly financial institution by Cashaa, has partnered with Bitbns cryptocurrency exchange to provide Indian crypto traders with advanced banking services.
The new partnership will enable Indian Bitbns users to become Unicas members and access their state-of-the-art banking services. Unicas banking services include high-interest savings accounts, crypto-backed loans, and debit cards that enable deposit and withdrawal in both crypto and fiat. Currently, Bitbns has over 1 million users trading on its platform.
The partnership comes amidst the rapid expansion plans by Unicas in India, announcing 14 physical branches in the next 45 days in which the branch in Rajasthan already went live on 28th December 2020. The brand further plans to expand to 100 branches over a period of 2 years.
“Partnering with Bitbns will lead our banking products to crypto users that are currently restricted to using crypto for only trading purposes. India has unlimited potential due to its large youth and the middle-aged population who hold significant wealth. Since India is on the road to digitalization, we aim to be a part of this nation-wide ambition,” said Dinesh Kukreja, CEO and Managing Partner of Unicas.
Unicas will offer India’s first crypto debit card, allowing users to spend their cryptocurrency while making purchases. When making payments with a debit card, the conversion from crypto to INR will be directly executed on the Bitbns exchange. This will provide more liquidity to Bitbns and provide users with market-priced exchange rates.
Gaurav Dahake, CEO of Bitbns stated “Bitbns has been using Cashaa’s services, and with this association, every Bitbns Indian user will be able to access Unicas banking services. We are excited to introduce our loyal customers to Unicas and be a part of this revolution”.
Unicas services will be available to Bitbns users from the 3rd of February 2021. To access the complete portfolio of Unicas services, staking of the CAS token will be required. The CAS tokens not only facilitate Unicas services in India but also Cashaa’s global banking platform. Bitbns will list CAS with an INR pair. Trading will begin on the 12th of January 2021.
“Cashaa is the banker of choice for crypto business around the world. Our mission is to create compliant and user-friendly products that grow the crypto ecosystem globally. With our partners and business customers around the world we are building the next generation banking platform to encourage crypto adoption in their local market,” said Kumar Gaurav, Founder, and CEO of Cashaa.
Cashaa is the world’s first global banking platform that enables the seamless integration of both fiat and cryptocurrency within one account dashboard. With over 200 crypto companies banking with Cashaa, they hold the largest market share of crypto banking in Europe. In addition to the Unicas venture in India, Cashaa will be rolling out its services for personal users in the USA, UK, and Europe in 2021 powered by the CAS token.
Bitbns is India’s leading digital assets exchange with over 100 assets listed on the platform. Bitbns has over 1 million + registered users on the platform and has all the tools for users from spot trading, margin trading with 4x leverage, derivatives trading, and also a systematic investment option for bitcoin through bitdroplet.com. The founding team is from IIT Kharagpur and has had over a decade of experience working together and building products like buyhatke, usemycards which have been scaled to millions of users.