One of the main problems which led to the foundation of Cashaa was the gap between traditional systems and cryptocurrencies.
Crypto companies, which frequently have as a goal to bank the unbanked, are struggling to open bank accounts for themselves. Especially smaller companies related to cryptocurrency get rejected by traditional banks, including in the US and Europe, places which otherwise would picture themselves as progressive and crypto-friendly.
On one side, policymakers try to make their countries attractive for crypto startups, on the other side, banks are not acting accordingly. This creates a huge opportunity for Cashaa, which has already solved the problem.
We are providing the necessary infrastructure for any crypto-related businesses like exchanges, wallet companies or brokers, who can focus on building their own product while Cashaa takes care of their banking problem.
All corporate accounts include a UK current account that comes with a MasterCard.
What’s more, we are the only one who provides fiat and multi-sig crypto accounts without transaction fees to our community, see our first session with more details on our CMC wallet.
We welcome businesses from anywhere except India, China (except Hongkong) and sanctioned countries. After submitting the necessary documents and having deposited the required amount of CAS token, we will start the application review.
Cashaa will do all the hard work in the background, including continuous risk assessment with all checks on you, on all transactions and on the customers you are onboarding.
Checks of crypto transactions are already done in the CMC wallet, which is what banks are lacking.
Pricing starts from 100 GBP/Month and CAS deposit of 100,000; we already received 164 requests to open an account, and will select 10 companies from all over the world to open an account in March through our system. This will allow us to understand the global requirements and make sure we have proper tools, compliance, policy, and procedures before we automate our customer onboarding.
Note: Due to the high demand for our Business Accounts, we are not reviewing the Blue Business applications. Any business who applied for an account, please deposit the CAS stake to wait in the correct queue. Please make sure that you are applying for the correct account type. The operational account is only for businesses who are not in crypto and want a regular bank account with a feature to accept payments in cryptocurrencies. All other businesses will fall under the category of merchant account.
As we are progressing and our systems will evolve in the next quarter, we will expand our business accounts offering to other industries such as gaming and cannabis industry, starting from June 2019.
Personal accounts with the card will be launched in early 2020, as we until then want to mature our products for different businesses. Furthermore, enabling businesses at first eventually can also get us related individuals from these businesses’ communities more easily.
To access the presentation, click here.
We hope you enjoyed our four AMA sessions, we are inviting you to provide us your feedback and suggestions for further sessions. We will now conduct monthly AMAs, each on the first Sunday of the month, 3.30pm GMT, starting from Sunday, 7 April 2019.
One Account for old and new Money