Cashaa may soon begin crypto loan services in India

We all know that the India’s central banking authority RBI (Reserve Bank of India) does not have a kind mentality to privately-owned cryptocurrencies. So, when heard that the UK-based Cashaa online banking platform (for both fiat and cryptocurrencies) will launch crypto-loan services, we got a little skeptical.

According to sources, United Multistate Credit Co-operative Society and Cashaa will soon launch Unicas, a unit that will provide crypto-friendly services in India.

Despite the Supreme Court’s green signal, Indian lenders hesitate to cryptocurrency lending services. It will launch somewhere in August, probably by the 15th, India’s Independence Day.

Cashaa states that this move will embark on the journey of financial freedom from fiat money. But for now, the company will offer loan services for both fiat and digital currency assets. The plan is to expand the operation base, connect with more banking services.

When asked about RBI approval for its entry into India, Kumar Gaurav said that United operates as a multi-state cooperative society and thus does not require the central bank’s permission for this model.

India’s mentality towards cryptocurrencies is taking a toll on exchanges, and Cashaa will lend a helping hand to them. We are hearing about an upcoming Cryptocurrency and Regulation of Official Digital Currency Bill too, in the monsoon session.

Cashaa is s strong contender, as it offers services to 200+ companies in multiple countries. Now, it will launch its services in the USA, UK, and Europe, alongside India.