Cashaa a revolutionary system in the banking space founded in 2018 by Kumar Gaurav. It is the world’s first live global crypto-friendly banking platform serving the best crypto banking experience through its CAS token. The platform providing essential banking services to more than 450 crypto businesses. The idea which introduce Cashaa is to bank the global crypto economy. The brand aims at providing the counterpart to the traditional banking system in an advanced manner on the blockchain backbone. In October 2022, Cashaa also started on boarding personal users.
CAS token powers the Cashaa banking ecosystem. As the native utility token of the Cashaa platform, CAS has multiple utilities such as discounts on application processing fees, set up fees, international wires, exchange fees, transaction fees, free monthly withdrawals, up to 100% bonus of interest earnings, discounts on the upcoming crypto-backed loans, boost in referral earnings and many more.
Talking about the story behind its brands name Gaurav says, “At first, in 2016 in UK, it started as a P2P cash transfer service from the Europe to Asia and Africa (CashAA), from where the brand name came.” The crypto industry, along with other industries such as entertainment, gaming and gambling, is underserved and often prohibited from using traditional banking services. Cashaa can now provide individuals and businesses in these industries with a hassle-free banking platform. The objective is to create a banking system where people and businesses can transact in both fiat and crypto from the one account dashboard, he added.
Services provided by Cashaa
- Businesses
US and Euro Bank account – Cashaa help business to get a USD and Euro Bank account in the name of the business, to crypto and other high-risk sector companies, who are pioneers in their fields and hence underserved by the traditional banks. These accounts can be used for receiving client funds, paying for business operations as well as collecting investor funds. It goes without saying that these are crypto-friendly bank accounts with easy transfer to and from crypto-currency exchanges across the world. Availability of SWIFT payment rails is one of the main highlights of these accounts.
- Business Wallet
Cashaa, through its Lithuania VASP license, provides a unique, multi currency wallet account which can be used by crypto and other high-risk businesses as a Fiat on-ramp, off-ramp as well as payment gateway for receiving 3rd party client funds as well as paying business expenses across the globe in EUR and USD as well as crypto-currencies like Bitcoin, Ether, USDT, USDC, etc. Besides payments on a regulated platform, platform also provide AML as a service for the businesses in this account. One can also make the most of its company funds by earning industry-high interest rates of up to 36% APR on short and long term fixed deposits.
- Business API
Cashaa APIs can be integrated into your platform. With our Lithuania VASP license, and tech stack built over a multi-year evolution in the crypto and Fintech space, it provide API integration to businesses looking to provide all the features of a Cashaa account on your own website, with your own branding to your client base.
- Personal Wallet for Personal Users
Cashaa not only provides payments services to crypto businesses, but is also taking crypto to the masses through its regulated fintech products. Using its Lithuania-licensed wallet, personal users can easily and safely invest in the crypto market, hold crypto and national currencies. Cashaa wallet is enabling unique CeDeFi staking products to beat inflation and allow their users to get annual interest rates of up to 20% on fiat and stablecoin and up to 11% of on Bitcoin, Ethereum and BNB.
We are strong believer in the decentralise technology such as Bitcoin, says Kumar Gaurav. “In our initial days we faced with banking challenges due to our involvement in cryptocurrency. We noticed that crypto industry is one the largest unbanked industry and treated as criminal by the high street banks. In late 2017 we decided to solve this issue for the entire crypto industry.”
One of the biggest challenges for crypto companies is to get a banking and payment infrastructure. Cashaa helping these companies get access to the crucial banking solutions, in order to be able to use its assets. Due to company’s unique position as a community of more than 450 crypto businesses they are able to provide best interest rates on customers’ deposits.
One can avail the services of Cashaa by appointing a dedicated relationship manager through its website called cashaa.com to understand their requirement and help them in onboarding process. After the Enhanced due diligence they are given access to banking network through the partner banks worldwide. Personal users can download their app or create an online account to start using Cashaa’s wallet.
Five years down the line Cashaa will continue to grow in crypto segment and will continue to innovate and bring new products to the market. After becoming successful in B2B business, company is now aiming to become a household name in crypto. Its wallet is released on Google Play and App Store, and it will give users an easier access to regulated products.