Cashaa protecting crypto companies to survive the Fifth Money Laundering Directive and new FCA rules

We are excited to announce the launch of a “Crypto Business/Broker” account to ensure crypto businesses/brokers are compliant with the FCA’s new rules for anti-money laundering and counter-terrorist finance and Fifth Money Laundering Directive (5AMLD).

Our mission is to help crypto businesses get access to banking who have always struggled with traditional banks. Finally, in 2019, we started our operations in partnership with an FCA regulated entity intending to become the go-to banking services provider for underbanked industries worldwide.

“We launched our business banking services in 2019, but onboarding crypto businesses was a huge challenge, mostly due to changing compliance rules, sometimes unclear KYC and AML policies of the business or sometimes just loose behavior of founders. The Fifth Money Laundering Directive (5AMLD) became compulsory for European states from 10th Jan 2020, resulting in FCA to become the AML and CTF supervisor for crypto businesses. Based on my experience, the situation will get worse for many crypto companies out there who do not understand the implications. Our product is developed to adopt these new laws with reliable banking services to protect crypto entrepreneurs.” — Archit Aggarwal, CPO Cashaa

More than 1000 crypto companies have applied to us, mostly looking for a bank account and credit/debit card processing facility. We had turned down 80% of the applications because the businesses did not understand AML and CFT rules. Based on our experience of dealing with over a thousand crypto companies, we realized that most of the founders working in the blockchain or DLT space are are young, dynamic entrepreneurs, full of innovative ideas who mainly focus on engineering, but are lacking specialized compliance knowledge.

Cashaa’s “Crypto Business/Broker” account will have coded policies and systems to mitigate the risk of the business being used for money laundering or terrorist financing. We have integrated the KYC system for individual and corporate entities within the account for due diligence of each sender/receiver when doing transactions. Three levels of the KYC system will do intrusive due diligence, known as enhanced due diligence when dealing with customers who may present a higher money laundering/terrorist finance risk, also including PEP (Politically Exposed Person) checks. Our systems, together with our reliable banking partners, will be doing the ongoing monitoring of all the transactions happening to make sure they are consistent with the business’ knowledge of the customer and the customer’s business and risk profile.

“We have put our experience of dealing with hundreds of crypto businesses and extended our capabilities through technology to our customers to give them the freedom to innovate with minimum worrying about the new FCA rules or 5AMLD.” — Kumar Gaurav, CEO Cashaa

From 22nd January onwards, businesses will be able to get a crypto broker account for Pound Sterling (GBP) and Euro (EUR). Great Britain and Lithuania IBAN (International Bank Account Number) accounts with a unique reference number will enable FPS (Faster Payments Service), CHAPS (Clearing House Automated Payment System), SEPA (Single Euro Payments Area) and SWIFT (Society for Worldwide Interbank Financial Telecommunication) payments, allowing 3rd party payments up to 200 Million GBP.

There is no monthly fee to make sure small innovative crypto companies can use the product. The KYC checks and ongoing transaction monitoring will be done automatically in the account, to make sure each transaction is following the European 5AMLD. To make sure only serious companies are applying for the account, a small application fee of 100,000 CAS will be required. Interested businesses can acquire CAS from Binance DEX.

For further details, visit

Your Cashaa Team

January AMA Wrap-up with detail about future of un swapped CAS tokens

Thank you to everyone who joined our first community AMA of 2020 last Sunday, 5th January.

CAS SWAP results and next steps

Kumar started the AMA with notifying that we refunded anyone who had been charged a swap fee. Cashaa has not charged anything for the swap from ERC20 to BEP2 and never intended to make money from it, but wanted to motivate users to make the swap as soon as possible. As many people were slow, the fee had the impact to push people to swap, but we ended up not charging anyone.


SWAP Stats

To date, 92.70% of tokens have been swapped, and for 4.44% of tokens, users filed reports of hacks and losses.

A total of 87,167,992 CAS is unidentified including the lost and hacked reported.

Cashaa will assign a support staff who will go through all reported cases (lost private key, hacked, exchange exit) and with the mutual consensus with Telegram admins (Cashaa Knights), victims will receive the token. A separate email with more details will be sent to users who have filled the report through Google form. 

All the unclaimed tokens after the 25th of December 2019 will be frozen for 3 years under Cashaa’s custody. Users who own the tokens on an ERC20 address before the 30th of May 2019, can send the tokens to the SWAP address throughout the year and will get the BEP2 CAS on 13th Jan 2021 after deducting a fee of 5%.

The users who acquired tokens by any means after 30th May 2019 can also send the token to the SWAP address with an affidavit that they are the owner with a reason not to complete the SWAP on time and Proof of the purchase of the token.

Wednesday, 13 January 2021 (Completed all steps before 13 December 2020, 4:00 AM BST) — Fees:5 %

For complete list of SWAP dates please refer

No further support ticket inquiries will be entertained related to the SWAP. This announcement will work as a final notice to all users. If you are looking for support, instead of asking in the Telegram community chat, we encourage you to ask anything which you think will also help others at

No further support ticket inquiries will be entertained related to the SWAP. This announcement will work as a final notice to all users. If you are looking for support, instead of asking in the Telegram community chat, we encourage you to ask anything which you think will also help others at


2019 Review – Successes

Kumar continued by summarising our achievements in 2019.

Most notably, we launched our crypto-friendly banking services starting with UK current accounts and later added USD banking services in partnership with Metropolitan Bank.

We also enabled credit and debit card processing for crypto businesses, started Bitcoin trading operations in India, and most recently, in December, started to provide a crypto liquidity API with the lowest price in the market for GBP, EUR, and INR pairs.

Thanks to all our products getting high traction, we have started to generate revenue and CAS became one of the few tokens in the industry that have a real-world utility. 

As our focus was a lot on businesses rather than individuals, we also wanted to introduce an initiative for personal users and therefore started a staking program for personal users, to which we distributed more than 5 Million CAS tokens as a bonus from our revenue.


2019 Challenges & Solutions in 2020

1. Operations

As a new startup, in one the most regulated markets where most of the banks have clearly said no to crypto companies, Cashaa has done well with its limited resources as a new financial institution. While it was a highly successful year from a product launch perspective, there are a few areas where we could do much better. 

While we got a huge demand for our business accounts, with over 1000 applications, we were only able to onboard 34 companies so far due to changing compliance rules, strict reporting and imposing strict KYC for the companies and regulations in 2019. 10th Jan is the last date to abide by the Fifth AML Directive, which obliges member states to establish centralized national bank account registries or electronic data retrieval systems who do strict KYC procedures. Cashaa has worked with its customers and also made sure that it covers the requirement of it. 


To improve our reach in 2020: 

  • We have onboarded an additional banking partner for GBP, due to which we are expecting to double the onboarding rate.
  • It has been a compliance and operational challenge, with many founders of applying crypto startups not having the relevant compliance-related knowledge to get onboarded, and getting rejected right away. We need to use our experience and industry knowledge to help these cases and provide them a solution, which is why we are launching a crypto broker banking wallet. We are looking to start with 2-3 applications a day, and are expecting to increase the acceptance rate by 6-8 /day. If they opt for this account, Cashaa will also do the KYC/AML due diligence on their customers to make sure they abide by all the regulations, so that they can focus on their business. We are expecting the launch on 1st February.


Application processing fee 100,000 CAS
Monthly fees 0
Account approval time 24 hrs
Currency GBP, EUR
Account limit 200 Million GBP/250 Million EUR
IBAN type GB and LI with unique reference number
3rd party payments Allowed
Payment modes FPS, SEPA, SWIFT


  • As being a pioneer in the crypto banking space with a proven product we have started the process of our license to increase our profitability and reduce dependability. We are expecting to get our own authorization from FCA by Q2 2020. More details will be given in Feb AMA.

2. Wallet and exchange issues

There have been some confusions with our decentralized wallet with an exchange. We identified 3 issues: 

  • When users are buying crypto and it gets released to them, there is a network fee that is getting lost, resulting in more support tickets as users compare it with a centralized system where they see the exact purchase amount. In the case of Cashaa, when the transactions are smaller, the network fee can be up to 1-2% of the purchased amount, causing confusion that Cashaa has charged the remaining fee while it’s paid to the network. 

We have now launched in a mass-market like India where users are buying with smaller amounts worth like 10-20 dollars, which has caused unnecessary support tickets. Also based on support tickets we realized that users do not mind keeping their crypto at an exchange in these countries, as they feel they can lose their crypto more easily than the exchange. 

  • Second, when users are selling, we give the price, but it can happen that the transaction fails for various reasons, resulting in another source of tickets.
  • Third, storage issues. If users are buying, especially small amounts and accumulate them over time, e.g. 1 BTC over 6 months, and then try to withdraw this amount, it costs a lot of network fee. 

All issues can be solved if we build a centralized system like Coinbase or a similar wallet. It’s quite unfortunate and against the belief of decentralization, but we have to adjust to the market requirement, especially for the Indian market where we are expecting to onboard over 200,000 users in the next 18-24 months.

Learning from all the above issues, our team has already started working on a new platform which we anticipate to be ready in early April or before. 


3. Support

Support was another challenge, mostly due to the tech issues, and our rising number of transactions in India and globally. The rise in number also started affecting our other support departments including those for business users. 

We will have a dedicated Indian support center for our India operations, and a European support center for any issues outside India by March 2020. 

Also with the experience earned we are automating many support processes in our new platform to smooth the process for our users as well as our support staff.

We request our community to help us with the transition from our existing platform and help our support centers by not raising multiple tickets for the same issue. Also please refer to to find the answers to the common questions and start a new discussion which can help others.

4. CAS demand

2019 was a great year for Cashaa to finally make CAS a utility token linked with a business model that got validated. In 2020, we have to implement all our learning and increase the utility of CAS tokens through various products that we have built. 

  • We are aiming for 200,000 – 300,000 new users in the next 18-24 months, which require a minimum of 2,500 CAS each to activate the wallet.
  • Broker deal account: with 100,000 CAS to get banking services for crypto brokers in Europe within 24 hrs onboarding time. With the launch of our crypto broker account, we expect to drive quick demand of CAS tokens.
  • CAS is a must to acquire the UK current account, EUR IBAN banking (April 2020), and credit and debit card processing services. 
  • Continuous staking program which will also run throughout 2020, rewarding personal CAS holders by sharing fees from the business growth.  
  • Up to 35% discount for personal users and a 75% discount on the exchange fee. 
  • Launch of personal UK banking services in 2020. 


2020 Roadmap

To sum it up, these are our 5 most important things to do in 2020:

  • Centralized exchange platform and wallet.
  • Onboarding additional banking partners in the UK to increase the onboarding speed.
  • Acquire our own license to reduce our fees and increase profitability.
  • Launch of EUR IBAN banking for businesses
  • Starting personal accounts with UK banking services.

Live Q&A


When are you starting your mobile app for small businesses to accept payments?

In Q2 2020.


When will UK personal accounts be live?

It is scheduled for Q2.


Why don’t we publish Cashaa like PayTM phone in India?

Let’s focus on crypto trading in India, and not create rival of successful applications. We first need to have enough crypto adoption and acceptance of that before creating such a solution.


Are you planning a token burning?

The tokens we are collecting are given to users who are staking, instead of burning. If the question was concerning the swapping fees, as mentioned earlier, any deductions initially made to encourage a faster swapping (383,000 CAS) were given back, so we did not collect any fee.


When will staked tokens be distributed?

Now after the holidays, the team will go through the tickets raised related to it, and after everything is fine, tokens will be distributed this week. (Announced for 10th Jan)


What about distributing 25% of recovered hacked tokens to users who voted for the swap?

Yes, it will be done. Please be patient for that as the tokens will be locked for 12 months.


Will we still run CMC ads in India and when?

While we have a good volume, around equal to the combined volume of Paxful and Local Bitcoins in India, we are skeptical to start CMC ads now, as more retail users will lead to more support tickets. Everything is prepared for CMC, but we would not know yet how we would be able to cope with the retail user influx. Once our support is smooth, we can start at any time.


Is there any development concerning Metropolitan Bank?

No, while every bank wants to be part of the crypto space for its benefits, when you actually start working with them, they have their own reservations and compliance issues. Speedy communication due to different time zones is also an issue we are working on. 


When will the DEX integration happen?

We believe it will be achieved in the first quarter.


What will be covered by our future license?
It will cover the UK and Europe with currencies EUR and GBP.

December AMA Wrapup

Thanks to all who joined our AMA on Sunday and submitted their questions. Kumar started by answering the questions below, before answering live questions.

When will aggressive marketing for INR begin?

We are expecting to start Coinmarketcap ads around 7–8 December (the official date to start marketing is 16 December). We will target Coinmarketcap visitors from India, informing them about the new and straightforward way to buy crypto with us.

We have acquired a decent user base in India, whose active feedback made us confident that India is a big market that can not be ignored. We are currently in a very good position when it comes to the Indian market as we are doing something unique that no other player in India is doing. We are also building an API to provide liquidity to other exchanges and OTCs in India.

How does Cashaa ensure safety and security?

We never take custody of any crypto. Cashaa never has any private keys to access any tokens, which removes us from the discussion around the issues other exchanges are facing of whom we frequently hear about hacks. Also concerning customer data handling, we are following the regulated banking partners’ standards.

What is the utility of CAS?

Please check the details on the CAS token utility for business and personal users on the CAS token page.

Getting a banking license in some countries is very difficult. Does Cashaa encounter any difficulties?

Getting a banking license is not only difficult but requires a lot of bureaucracy, capital, and many other requirements. Having seen during 2019 what the challenges are when making a product live, our experience also includes insights into how to deal with a major regulator, the FCA. We started discussions in various other places, aiming to replicate our UK model with different regulators and banking institutions.

Can you provide more background details concerning Binance in India? Please compare the contrast what Binance is offering vs Cashaa.

Let’s quickly go through it and see how the system works to compare it directly. The number one difference is that Binance offers Indian users to buy USDT, you can not buy anything else. You pay with a bank transfer, buy USDT, in a peer-to-peer USDT-INR system. As it is peer-to-peer, you depend on the sellers’ availability. The maximum available USDT to sell during the time of the AMA was 7,500 USDT, roughly 1 BTC, and if you look at the premiums, there is a premium of 6.24 %, to buy with limited liquidity.

While at Cashaa, users can buy any amount instantly at 3.5 % only. Users do not depend on any seller, and soon, we will cut the prices lower as our volume is growing. We will also add USDT shortly for our Indian users.

What about the number of businesses onboarded for GBP and USD accounts?

For USD, we are in process to onboard 3 companies now, including Circle, one customer from Estonia which has been our customer already, and a brokerage firm.

On the GBP side, our speed has been doubled, thanks to our pre-compliance team, and thanks to our additional banking partners. Any new EMI (e-money institution) will take a few weeks to adjust to the process and start producing results. We are estimating that from 2020 we will able to on-board 3–5 companies every week.

What’s Cashaa’s USP (unique selling point) against other businesses such as Binance and Paycent?

Please go through the website, we are not only an exchange or a payment processor. We are a banking aggregation, focused on providing banking services, with crypto features.

Are you looking to expand into APAC markets like Singapore?

We do not see a reason to go to Singapore directly, as Singapore businesses are already banking with us, but we are in conversation with a Singapore bank to include Singapore Dollar into our product offer.

Can you give some insights on the US, UK, EUR regions on regulations for crypto business other than KYC and AML?

The regulation depends on the state, but in any case, you have to register with FinCen. In the UK, as crypto still is not regulated there, only a strict AML/KYC policy is required that is implemented into their day to day activity.

How many stolen CAS have so far been recovered or confiscated by the swap process?

Once the swapping process is completed, we will go through all the cases, so far it would be roughly 8 Million CAS tokens.

If crypto gets banned in India, how will it affect Cashaa?
Especially following the most recent events, we do not believe that crypto will get banned in India. India will continue to be a major market for us, even in case it gets banned, it cannot be declared illegal overnight, but there would be a reasonable time given to convert. Still, a move to ban crypto is not in sight. Instead, there would need to be a proper process, reporting mechanism, and taxation.

When there were rumors of Venezuela or Russia earlier apparently trying to ban crypto, it rather were individual politicians or individual bodies making statements creating fear, and media picking up and creating FUD. The same is happening in India. It is not illegal to have crypto in India.

Also as the very nature of crypto is not physical, the whole power of it is that anyone can cross borders with crypto without it being found. Crypto is all about mathematics.

When will multiple staking from a single account become available?

You can only have one staking per account, as CAS is a utility token linked to the product. Multiple stakes would imply staking for the sake of profit only, which therefore we can not enable.

Was Cashaa be able to block and recover any more stolen coins other than the 20 million initially mentioned before the swap vote?

We have overall received reports of around 46 Million tokens that have been lost. There are multiple cases reported to the team, we will see how many are legitimate after 25 December.

Live questions:

Aren’t you spending too much energy on things that matter only for a few?

As we have limited manpower all the logic has been written in the code, so every time the code itself checks if tokens came from a reported case.

The team is focused on the banking side, where we are receiving an increased amount of applications for our business accounts, and we are also strongly focusing on India and our relation to exchanges there. Any token issues are handled fully by our customer support and do not require any main team members.

What about your timeline for EUR deposits and will they be customer-to-business deposits as well?

We can start any time with EUR deposits and are planning to do so in December according to our roadmap.

What about personal users having staked CAS to get early personal accounts, how many people have staked?

157 users have staked so far, with average staking of 623,596.6425 CAS. We can directly check the latest numbers on the Binance chain how many people have staked.

Can Cashaa prioritize the mobile app and integration of the turnkey solution with the mobile app?

Please contact me via email about this.

Are you planning a new exchange listing?
No, we are not planning that at the moment.

What about VC funding?

We have removed VC funding from our latest roadmap, as we now have a good revenue from our Indian business now and with 90% likelihood in the next 2–3 months we will be able to become a profitable startup. VC funding will still remain in our roadmap but not as a priority and would be used for marketing support for global expansion.

What about USD personal accounts?

We do not have these on the roadmap yet, we only have GBP personal accounts with Enumis as planned still on the roadmap.

How many users do you have in India?

Roughly 2200 registered accounts. Most active accounts seem to be brokers who have created a Cashaa account and are selling BTC P2P. Now we need to raise awareness of the advantages of Cashaa compared to buying on peer-to-peer with a higher premium.

What about the DEX integration?

It is still planned in the next quarter. With all other integrations such as for our USD accounts and our India offer, we are focused on building CAS utilities and having them tested. Users who want to buy tokens can already do so, but having business adoption is more crucial, which is why we have put these steps first, ensuring our product first, noise later strategy.

Why is buying BTC through credit card disabled?

Credit card purchases require additional compliance and monitoring. Having a small team we do not want to use resources for that but focus on the business onboarding.

There are many solutions available in the market, some of them are our customers for the same and it’s not a pressing issue that would need to be solved.

Your Cashaa Team

The Next Generation Banking Platform

Crypto-friendly banking service Cashaa added USD bank accounts

We are announcing the launch of US Dollar bank accounts for crypto businesses in partnership with Metropolitan Commercial Bank.

Starting from 25th November, cryptocurrencies and other high-risk businesses can apply for US Dollar accounts with full banking features from anywhere in the world, except for sanctioned countries, through Cashaa.

“As our world is changing, new types of businesses are evolving. Traditional banks currently underserve crypto-related businesses. Our goal is to create a hassle-free experience for all businesses who are building new technologies and business models. The addition of US Dollar accounts is an important milestone for the crypto community and us. We want to thank our community and all businesses so far who have trusted Cashaa to solve their banking problems.” Janina Lowisz, Co-Founder and VP Marketing

With over 800 crypto businesses signed up since its beta launch in May 2019, Cashaa has had a busy few months finding a speedy way to onboard genuine businesses. Cashaa’s existing banking services include UK current accounts with a limit of 1 billion GBP with Mastercard through FCA regulated entities.

To increase the onboarding speed and decrease the rejection of accounts, the startup has formed a pre-compliance team in September soon after Barclays announced that it is no longer banking Coinbase.

“Our automated process and ability to understand crypto businesses have made us a leader in the European crypto banking space. Our products are designed for startups as well as unicorns in the crypto industry, who are our customers. Ever since our pre-compliance team came into action, our onboarding speed has doubled with our UK regulated partner entities. Partnering with a US bank will help us expand our services to the USA as well as provide our existing customers more opportunities.” –Archit Aggarwal, Chief Product Officer

Mr. Aggarwal added that all Cashaa’s US accounts would be domiciled in the United States and have full access to ACH and SWIFT without any limits with a one-time setup fee of 250,000 CAS. Furthermore, customers will get the advantage of priority onboarding, lower transaction fees, higher limits, risk coverage, and dedicated customer support to smoothen their banking experience.

Cashaa customers will now be able to enjoy the market opportunities and security of UK and US banking under one product. As the company already has hundreds of US-based businesses signed up, being able to onboard these will establish Cashaa as one of the pioneers in crypto-friendly banking worldwide. 

While banking accounts are Cashaa’s core offer, which solves the massive problem of underbanked businesses. Cashaa also offers a non-custodial crypto wallet with fiat to crypto exchange function, so far for BTC, ETH, BNB as well as its own token CAS. Most recently, Cashaa has announced the support of Indian Rupee payments, enabling crypto enthusiasts in India to buy and sell supported crypto using INR up to 10 Million INR per month. 

To learn more about Cashaa, see here and here.

Your Cashaa Team

The Next Generation Banking Platform

Cashaa November AMA Wrapup

Thanks to everyone who joined the AMA and contributed to the Q&A Session. We had primarily focused on our roadmap and related questions in this AMA.

A lot has happened since we enabled Indian residents to buy crypto with INR. With our press release, which has been picked up by the media, we have received over 1400 KYC submissions so far, without having done any marketing.

We have also received feedback from our community related to price and speed, which we have considered and would be quickly implementing the same.

Agenda for this month 

  • An updated website, including our new roadmap with our partners and services. 
  • We will focus on technical, compliance, and usability updates of our INR wallet.
  • Launch of our USD banking.

Community AMA

What about the deadline for the CAS swap?

We have taken the opportunity of the swap to enable those who lost their tokens to potentially recover them. For this to be possible, there needs to be a deadline, which is 25th December. We have given 3 months to do the swap without fees and once more extended to 16th October. If you have been charged a fee for swapping after 16th October, we will refund it. However, there will be a fee for transactions after 31st October. For the token release schedule, see here.


What do you plan to increase trading volume?

We believe in building the right product, and our team focuses on bringing volume from adoption for the long term sustainability of our ecosystem. 

A few milestones in this quarter:

  1. Constantly improving our pre-compliance knowledge base to have a complete application before it goes to the FCA regulated compliance team. The onboarding rate is doubled but still the bottleneck pipes to GBP core banking. 
  2. To speed up the onboarding of our existing customers for UK current accounts, we are partnering with more banking partners to open accounts through Clearbank systems for the GBP account. It’s like having parallel pipes to enable crypto companies to access to UK banking.
  3. Adding EUR and USD banking to attract more businesses from crypto and non-crypto space. 
  4. Opening up the Indian retail market aggressively with our INR wallet (5-6 Million crypto users). As soon as our team is ready with the implementation of the suggestions received after our launch in Diwali, we will start marketing this product.


What about linking the Cashaa wallet to the Binance DEX?

It will be done in Q1 2020.

When is US Banking going live?

Our partnership with Metropolitan Bank is finalized. We already started testing the system with a few customers who paid the onboarding fee in CAS, which can be seen in the Binance explorer. We will make the announcement by 15-20 November, and will onboard those who have been waiting. Each business will need 250,000 CAS tokens as an onboarding fee.

If you try to open a business bank account with Metropolitan or other US banks, you need to have between 500,000 USD and 2,000,000 USD in deposits to maintain such an account. This is one of the reasons why only big exchanges have bank accounts in the US, whereas in our case the minimum is 25,000 USD and part in CAS based on the limit required. For information on the amounts to be held in CAS tokens, see our fees and limits section.

How many new customers have been onboarded?

For our INR wallet, we have roughly 1400 customers, of which around 800 have been KYC’ed and started transacting. On the business side, we onboarded 6 new companies for UK banking. We are partnering with more banking partners to send applications in parallel and have more accounts opened.

Concerning EUR banking, the progress is also on track, we will release more information soon. 

In November, we will start USD banking, and in December, we will start EUR banking. 

Concerning credit and debit card processing, we have onboarded 3 customers in the last week and are expecting an increase in this number soon.

What about KRW and YEN?

We have discussions with a Japanese bank, but none on the Korean side yet. We are planning to advance on both in the next quarter.

Can we reduce the INR deposit amount to 5,000 INR?

Yes, we can reduce it to 5,000 INR, while another possibility may be to introduce a temporarily free service to Indian residents. We will experiment with different options and are open to further community feedback.

Where are we with the crypto turnkey solution?

The crypto turnkey solution is live, one customer is testing it. Although it is going a little slower than expected, we are suggesting if you are a business looking for it, to sign up and get started.

What was the recent transfer of 97 Million CAS?

It is an investment fund that bought tokens during the token sale, but in smaller chunks, and they made the swap recently for all tokens from one account.

How many users in India do we have so far?

We have around 2000 users overall from India, including old and new accounts.

What about personal accounts?

We are still on track for personal accounts next year, which will be a new challenge as we first need to increase our operations and support team. The board decided to focus on solving the operational issues related to the business accounts and then build another operational team for support and sales next year prior to the launch of our personal accounts. 

Can Cashaa create a mobile wallet with a turnkey solution to be used by any vendor?

We can discuss this internally, please get in touch via email.

Any development with entering the Cannabis industry?

We have been invited to Malta Week, including Cannabiz Summit, 4-5 November, where we will collect feedback from Cannabis businesses on how we can support them. We will also have a booth at Malta AI & Blockchain Summit, 7-8 November.

Congrats to the Indian Crypto community! Buy Bitcoin with Indian Rupee

Cashaa’s mission is to provide a secure and stable banking experience for the crypto community and any business or individual that has been underserved by traditional banks. To know about our latest developments you can read the October AMA with Kumar Gaurav, CEO Cashaa.

In July 2019, more than 5 Million Crypto users in India have been left with no option after banks and other financial institutions in India have been forbidden to provide services related to cryptocurrencies, such as transacting with exchanges and other crypto businesses. 

Since Cashaa’s banking services launched in May 2019, more than 750 businesses worldwide are in process to get banked through our system or leave their existing non-crypto-friendly banking system which only serves themselves and people with power.

Cashaa was able to find a stable P2P solution through its vast network of traders and brokers in India. Our system will solve the problem of liquidity and speed using a P2P engine at the backend which does all the complex work and makes buying and selling simple for average users. 

On the occasion of Diwali, a festival for wealth and prosperity, we are announcing the launch of INR deposits with buy and sell of Bitcoin, Ether, and Cashaa for Indian residents, up to 1 crore INR per month. Min deposit amount is 25,000 INR up to 10 lakh INR in a single transaction.

To access our trade network with unlimited liquidity, users must have min 2,500 CAS token in their Cashaa Wallet. It is important to note that crypto stored within the Cashaa wallet is controlled by the user. Cashaa or any of its team members do not have access to your crypto, which makes users’ funds protected in case of any misfortunate event with Cashaa, unlike any other exchange. While creating the account users will get a PDF file with the encrypted private keys which can be used to recover crypto funds.

The service fee is 3.49% for buy & 0.99% for sell for all the crypto available on the platform. The fee can decrease up to 35% for users paying in CAS (the platform’s native token), making it 2.2% for buy & 0.65% for sell. Please see all the available plans at our pricing page and the fees & limits for the platform. 

We welcome the Indian crypto community which is left without any stable and secure option to buy real digital gold this Diwali. 

Other than solving a pressing issue for crypto enthusiasts in India, the service will increase CAS utility, as it adds to the multiple CAS use cases: CAS holders worldwide can participate in the staking program for individual users and get a quarterly revenue share, personal and business users can pay for transaction fees and get a discount, business users can pay their onboarding fee and get access to the required account limits, complementary services, and more.

CAS is currently available at Cashaa wallet where users can buy CAS tokens through bank transfer (IMPS, NEFT, SWIFT, FPS), credit and debit cards or through Binance DEX.

For more information about Cashaa, see here.