Crypto Banking Service Cashaa Adds USD Bank Accounts
Crypto banking service platform Cashaa has revealed its plans to launch US Dollar bank accounts for crypto businesses on its platform. The new initiative which would be launched from 25th of November is in partnership with Metropolitan Commercial Bank.
Cashaa has been expanding its scope of business in recent months and this launch has the potential to triple its client base. With this, cryptocurrency firms and high-risk businesses will be able to apply for US Dollar domiciled bank accounts with full banking features from across the world.
The US accounts will give users access to ACH and SWIFT with no limits and comes with a one-time setup fee of 250,000 CAS (which is the native token of the platform).
Cashaa Chief Product Officer Archit Aggarwal revealed that the firm was looking to expand its services to the USA after enjoying success in the European crypto banking sector.
"Our automated process and ability to understand crypto businesses have made us a leader in the European crypto banking space. Partnering with a US bank will help us expand our services to the USA as well as provide our existing customers more opportunities."
Cashaa Has Enjoyed Growth Since Launching In May
Cashaa which launched its services in May and has over 700 crypto businesses signed up to its platform. The platform helps solve the banking issues that high-risk investments like cryptocurrencies face.
Users are offered a non-custodial wallet with a fiat to crypto exchange platform which supports popular coins like BTC, ETH as well as its native token CAS.
Cashaa currently offers users with UK Current accounts with a limit of 1 billion Pounds via a partnership with Master Card. It also announced the support of Indian Rupee payments on its platform in a bid to break through the potential client base in India.
Users have access to buy and sell supported coins on their platform to a limit of 10 million INR monthly. It has also improved its services by creating a pre-compliance team that verifies businesses to reduce the chances of rejection.
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OlowoI am olowoporoku adeniyi, writer, editor and crypto evangelist, with five years experience in the Blockchain industry.
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