Unicas Opens the World’s First Physical Crypto Bank Branch In India: Plans 100 More by 2022

The world’s first brick and mortar crypto banking branch opened in Jaipur, India.

  • Unicas opens the world’s first brick and mortar crypto banking branch In Jaipur, India
  • The launch follows a partnership between Cashaa and the United Multistate
  • Holders of Unicas would enjoy both traditional banking and crypto services
  • Unicas plans to expand its crypto bank branches across India

Unicas, a joint venture between Cashaa and the United Multistate has launched what it refers to as the world’s first physical crypto banking branch in Jaipur India. Part of the announcement reads.

Cashaa is pleased to report that today Unicas opened its first physical branch in Jaipur, India. We encourage everyone from Jaipur or the surrounding region to visit the Unicas branch located at: C-52, Keshav Enclave, Janpath, Lal Kothi, Jaipur, 302015, Rajasthan.

Unicas: Traditional Banking Meets Crypto Trading

Cashaa is an online banking platform that offers fiat and crypto services while United Multistate Credit Co-Operative Society Ltd is a financial institution based in India.

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The joint venture, Unicas noted it will leverage United’s regulatory licenses, its physical branches, and overall banking Infrastructure to offer crypto services. Account-holders will be able to transact in cryptocurrency and fiat from one account.

  • The usage of cryptocurrencies at physical stores is rising around the world.
  • Shops like Overstock, Subway, Twitch, Starbucks, Dominos Pizza, Burger King, and a long list of others are already accepting payments in Bitcoins.
  • Residents of the United Kingdom can now cash out and sell their Bitcoin at over 16,000 Bitcoin ATMs after Cashzone reached an agreement with London-based cryptocurrency company BitcoinPoint.

Unicas Offers One Account for All Banking Needs

The crypto financial institution announced that users will be able to transact in cryptocurrency and INR through a single Unicas account. The branch will be opened from 9.30am to 6pm from Mondays to Saturdays.

It will also offer all the services of a traditional banking system. Users will be also able to open savings accounts, trade, and exchange cryptos.

In addition, users will be able to get instant digital loans against cryptocurrencies depositing crypto assets in the Unicas wallet. They will also be able to get the equivalent value of INR on their card or bank account.

Future of Unicas

Unicas has announced that its Jaipur branch is the start of a lineup of physical crypto branches. Unicas announced that it would be rolling out a total of 14 branches in January 2021.

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Mr. Dinesh Kukreja, CEO of Unicas, revealed the company’s goal of rapid expansion which includes opening 100 branches by 2022. This falls in line with the company’s goal of offering customized financial and crypto products to the local Indian markets.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia