India-based bank United Multistate Credit Cooperative Society has recently unveiled its plans to introduce cryptocurrency services and products all across its 34 physical branches within Northern India. This project will officially be called UNICAS and is a joint venture of United and Cashaa, a crypto service provider.
Once UNICAS comes into fruition, it will be the very first time that Indian customers will be able to walk into any United bank branch and promptly buy, sell, or loan cryptocurrencies. Dinesh Kukreja, United’s managing director and standing CEO of UNICAS, states that they are the first regulated physical monetary institution wherein users may have access to various crypto products. Cashaa then added on its Twitter profile that UNICAS marks the new banking era within the crypto industry.
United and Cashaa plans to launch UNICAS this coming December 2020 and shall kick start a rapid expansion development to more than 100 branches by 2022. Despite their heavy advertisement regarding physical branches, UNICAS is also set to provide online crypto services. It will allow users to integrate their current crypto wallets with their respective accounts comfortably.
At its initial phases, UNICAS users will be able to purchase or sell Bitcoin (BTC), Bitcoin Cash (BCH), Binance (BNB), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), EOS, and Cashaa (CAS). Other crypto variants are soon to follow, says United and Cashaa.