Sirlibz
Traditional banks have started having a share of the Crypto market either directly or indirectly. Earlier this same week, we read that DBS, a top bank in Singapore is opening up a cryptocurrency exchange and we also read of the popular American bank JP Morgan releasing it’s coin developed on the blockchain.
Today, a partnership between Crypto banking platform cashaa and the United Multi-state Credit Co-operative Society has made it possible for 22 banks branches in India who are interested in Crypto banking services. The citizens of India who are interested in Cryptocurrency will soon be able to go to their local bank branches to get Cryptocurrency and to also learn about investing in them.
Cashaa stated that “initially account holders will be able to buy and sell bitcoin (BTC), Cashaa(CAS), Ethereum (ETH) , Binance coin(BNB), Bitcoin Cash(BCH), EOS, Litecoin(LTC) and Ripple (XRP) with cash or the amount balance in rupees”. The 22 branches will be ready to start operations by December, Cashaa’s spokesperson reportedly said.
Lounges For Crypto Customers At The Bank
Cashaa plans on making available Crypto Lounges in all 22 branches where customers can walk into and get educated about cryptocurrencies along with other banking services.
“The United’s existing branches will be transformed and modernized as Crypto Lounges,” Cashaa described, noting that “Members can walk into any of these branches and get educated about cryptocurrencies along with other banking services.”
Cashaa plans on educating members who visit the lounges about investment opportunities, utilities of bitcoin and other cryptocurrency , how to use and to store crypto etc.
The immediate plan is to open these Crypto Lounges in Delhi, Gujarat, and Rajasthan covering a population of 150 million Indians living in these states.
Account holders with the bank will also be able to use their Cryptocurrencies as collateral to take loans in the bank Just like any other traditional loan given by banks.
