您现在的位置是:Cashaa launches crypto bank Unicas in India >>正文
Cashaa launches crypto bank Unicas in India
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛43834人已围观
简介The banking company, called Unicas, aims to expand to 100 branches by next yearCashaa, a fintech fir...
The banking company, called Unicas, aims to expand to 100 branches by next year
Cashaa, a fintech firm based in the United Kingdom, is collaborating with India’s United Multistate Credit Cooperative Society to launch Unicase, a crypto – centric banking company. The initial plans include the opening of 34 branches in Northern India, with additional projects for expansion to 100 branches by next year.
Since India’s economy is primarily driven by savings, Unicas is also working on offering crypto saving accounts that pay interest on deposited cryptocurrency. This has the potential to act as a bridge for cooperative credit societies in India to interact with the crypto market.
As a whole, the cryptocurrency industry in India has experienced massive growth in both volumes and new clients ever since the country’s Supreme Court repealed a two – year ban that prevented banks from offering their services to cryptocurrency exchanges in March 2020. The founder of Indian crypto exchange WazirX, Nischal Shetty, told Cointelegraph that this growth was made possible through a combination of the repeal and the pandemic.
“The Indian crypto ecosystem has been growing tremendously since the Supreme Court lifted the banking ban on crypto in India. […] The positive verdict was immediately followed by a lockdown due to the COVID-19 pandemic. This period has also given people more time at hand to read about crypto and participate in it.”
Ashu Swami, the Chief Technology Officer of the New York based crypto liquidity and solutions provider, Apifiny, believes that this growth is caused by the increasing evidence that Bitcoin (BTC) is indeed a safe haven and will also contribute towards the ease of conducting inward remittances to the country with cryptocurrencies.
Swami pointed out that other assets have their own unique disadvantages that can be answered by the adoption of cryptocurrencies.
“The INR has been highly volatile, having depreciated over 80% vs. the USD in the last decade. Gold is very hard to trade and has high transaction costs; real – estate has been in a slump since the demonetisation of 2016, and the stocks are at record high valuations, and many believe they are due for a correction any time now”, he explained.
This environment has funnelled users into cryptocurrencies, and all of the major international crypto exchanges have reported a traffic increase between five to ten times from users in India this year.
Local crypto exchanges in the country have also reported a tenfold increase in registrations since the repeal of the ban, which is two and a half times the global average of 400% year over year growth.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/97437.html
相关文章
Say hello to Celo: Where to buy Celo, the gaining coin
Cashaa launches crypto bank Unicas in IndiaSince its price spike of almost 150% on 30 August, there has been no end to Celo’s gains. A re...
阅读更多
Anthony Pompliano says Bitcoin remains crypto king despite recent dip
Cashaa launches crypto bank Unicas in IndiaOver 89% of holders are profitable with the Bitcoin going by when they last bought the cryptoDemand...
阅读更多
Crypto.com to become the preferred exchange of PayPal USD (PYUSD)
Cashaa launches crypto bank Unicas in IndiaTL;DRCrypto.com has entered into a strategic partnership with PayPal and Paxos.The partnership will...
阅读更多
热门文章
- US scientists turn everyday materials into conductors for quantum computers
- Bitcoin Cash price outlook: Symmetrical triangle forms
- Is the Apple Vision Pro the future of vision science?
- Voyager's assets have not been transferred to FTX
- NASA's Lucy mission gears up for milestone engine burns
- Shiba Memu (SHMU) defies gravity as hawkish Fed jitters remain
最新文章
How good is Ripple (XRP/USD) after this brutal statement by Ripple against the SEC
Could LINK slide below $15 in the coming days?
You can now buy ReserveRights: Here’s where
Readying to buy Optimism (OP/USD) token after a key breakout is confirmed
Google updates its crypto advertising policy to allow NFT gaming ads
Solana leads rally after Fed decision calms markets