Unicas Bank has opened World’s first Physical Crypto Bank in India
Hello Everyone
This year 2020 is left by only 1 day but and indeed this year has been great for India in terms of growth in crypto. This journey started in March month when the banking ban was removed by the court thereafter many Indians started joining the crypto space.
During the year many great things started and even a few exchanges got very good funding to expand further. Every other month's great things kept happening and even in the time of lockdown and covid pandemic crypto segment kept on growing. Bitcoin price is over 28k USD and this is bringing a huge number of new users daily.
There is another fantastic update that India has got the world’s first physical crypto bank branch this week.
Unicas, a joint venture between Indian online crypto banking platform Cashaa and United Multistate Credit Co-op Society, has launched a physical crypto bank branch in Jaipur, India. According to a Cashaa blog post on Dec. 28, the physical crypto bank branch in Jaipur is part of an initial rollout in 14 locations across three states before the end of January 2021. The Unicas JV is also working toward establishing a total of 100 branches by 2022.
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This branch has been opened in Jaipur India that is a part of North India. This is a joint venture between the United Multistate cooperative Society and Cashaa and they named it Unicas Bank. They are going to have 14 branches across India soon and will make it 100 branches by 2022.
There is no crypto regulation in the country and despite it opening a physical bank for crypto is great to move. India is a big country and this will surely help the country to have a bigger crypto community. I am so excited about it and hope to visit the branch soon in 2021.
Unicas Bank will be providing banking services through both (crypto and fiat) and it would be so nice because even people who are not good in the use exchange platform and trade can easily but buy and sell by visiting the branch.
Overall I like the initiative and looking forward to having a branch in Delhi city (capital of India) soon so that I can experience crypto buying in a physical way. These days covid is the problem and once its better then I will surely visit the branch soon.
Thank you so much
Have a great day.
Good evening brother, Thanks for sharing good news about crypto bank in india.
thank a lot brother. glad you found it useful
Hi @alokkumar121
Wow. reading this news fills me with a lot of joy which I share with you, it is well known that India has a great cryptomoneda market and that they open a bank for that is a great step, that other countries can consider following.
now i think that we should also wait an average of three months to evaluate the behavior and i hope that the transactions of that bank will also be in the blockchain in this way it will be safer.
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https://twitter.com/Bhattg18/status/1344347634119503872
It's great to see this type of business that can help develop the BTC further. I hope that the authorities, when they see the acceptance by people, will not try to stop them through laws that force them to close down or work from countries that are more friendly to the BTC, and I wish them the best of luck.
Hi @alokkumar121
I think this type of initiative calls out to ordinary people, to the world of cryptocurrency I hope that other banks follow this path not only in India but all over the world, thanks for share
That's great, @alokkumar121!
I hope it will be a major breakthrough for India.
Hi @alokkumar121
The progress your country is making in crtptography is impressive.
It is good to know that these things are happening, because it lets us know that it is possible and also leaves the possibility open that other countries could follow its example.