Crypto bank Unicas, a joint venture between Cashaa and United Multistate Credit Co. Operative Society, has opened its first branch in Jaipur in Rajasthan, India. According to Unicas CEO Dinesh Kukreja, “Unicas is initially opening its services online and through 14 branches across NCR, Rajasthan, and Gujarat by January 2021, and plans to rapidly expand to 100 branches by the end of 2022,”.
He added that this will allow the bank to build, scale, and offer customized financial and crypto products for the local Indian markets.” A spokesperson for Cashaa told news.Bitcoin.com that “The next 13 branches will all be rolled out between 4 – 22 January.”
Unicas will be providing banking services for both fiat and crypto-assets. Services include savings accounts, crypto exchange, crypto loan, and debit cards to spend crypto. Users may receive an instant loan digitally by depositing crypto assets in the Unicas wallet and requesting the equivalent value of INR on their card or bank account.