Unicas to cease CAS as its native token post 30th June, 2022
25,00,000 CAS tokens are currently staked by UNICAS users
New Delhi, May 26: UNICAS- a crypto friendly financial institution has announced that CAS token by Cashaa will cease to be its native token post 30th June 2022. This announcement comes after both entities decided to dissolve their partnership last week.
After successfully transforming India’s crypto-terrain in the last year of operations, Unicas has green-lit a management buy-out and has decided to part ways with the UK-based crypto Neo-banking company.
The company has stated that the management change poses no risks to the user balances, ensuring a smooth transition from its former mode of operation to an independent system. The current CAS token holders will continue to enjoy high interest on their deposits and low interest loans, and trading of CAS shall work as usual on the Unicas platform.
From the first of July, Unicas will release the CAS staked for Standard/ Premium membership and DSA accounts and introduce the new ecosystem. This shall not hinder the user’s access or experience of any premium features and services. Standard/Premium account holders will also be able to avail the extended monthly limit for loans, deposits, and withdrawals as customary.
”The Indian market has a huge upside after the recent reforms in the country, due to which we have decided to procure Unicas stakes from Cashaa representatives in India. With an independent ecosystem, we will soon be introducing features and products that we have been working upon for a long time and are ready to launch now. By assuming greater control over the platform, we seek to pave a more dynamic path for Unicas,” said Ms. Sonal Kukreja, Co-founder and CEO of Unicas.
Both the entities are aggressively working towards new developments as they aim at serving the customer base in a holistic manner with their individual set of expertise and approach. Unicas is working to extend its reach and accelerate its progress in the realm of crypto-finance by inaugurating a number of new branches and advancing wallet services across the nation.