1 August 2026
India Will Now Have Physical Crypto Bank Branches
On 26th October, Cashaa announced the partnership with India's United Multistate Credit Cooperative Society to build a crypto-friendly financial institution called UNICAS. This venture will have 34 “physical branches and operations” in the northern part of India including the cities of Delhi and Gujarat, and the state of Rajasthan. The firm stated that they are planning to expand the branches from to 100 “where users can access crypto products” by next year.
A few days back, Cashaa India has announced to allow Indian businesses and individuals to open savings accounts to buy, store, and save cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), XRP, and its native token CAS. The firm will also allow its users to use their crypto holdings as collateral for loans, and to buy crypto with local fiat currency.
Cashaa CEO, Kumar Gaurav, said “most Indians are not aware or are misinformed about cryptocurrency as an online product and they tend to trust what they see or what the government recognizes and recommends. India is still largely a cash-based economy despite a demonetization drive. We intend to address both issues which are slowing the process of cryptocurrency adoption.”
Back in September, there was news stating that the Indian federal cabinet was considering a law banning crypto even though courts lifted a previous blanket ban. However, in Monsoon Session Parliament, there were no regulators reportedly proposed bills calling for such a law.
Crebaco’s founder Siddharth Sogani called a new crypto ban “Clickbait.” The CEO of Cashaa India also stated that crypto ban stories were speculative ones and regulations will not be an obstacle for Cashaa India while offering crypto services to its users.
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