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UK-based crypto banking platform set to expand into India

UK-based crypto banking platform set to expand into India

Quick take

1minute read

  • Cashaa, an online banking platform based in London, United Kingdom is getting ready to launch its own crypto pro Internet bank in India. 
  • The founder of the platform, Kuman Gaurav has said that this expansion will allow for companies in India as well as other individuals to open a savings account which will have them by, save and store cryptocurrencies.

Cashaa, an online banking platform based in London, United Kingdom is getting ready to launch its own crypto pro Internet bank in India. The founder of the platform, Kuman Gaurav has said that this expansion will allow for companies in India as well as other individuals to open a savings account which will have them by, save and store cryptocurrencies.

He went on to say, “ for lending, we will be adding crypto assets class together with gold and real estate as collateral.“

The founder further went on to highlight the need for a pro-crypto bank in India saying that many banks within the nation are hesitant to get involved with the industry limiting services to crypto users in the country. It would also make his company the first registered bank to allow for deposits and withdrawals of cryptocurrencies.

The company was able to get the green light from lawmakers within the country to operate as a crypto-friendly Internet banking platform. Initially, the founder said that the company would start providing its services to Indian cooperatives and will launch it’s fully-fledged services in 2021.



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