Cashaa updates offering with crypto-friendly banking services

Tuesday 21 January 2020 13:54 CET | News

Cashaa, a UK-based banking platform, has updated its offering that caters to people and businesses that need crypto-friendly banking services.

As the new Anti-Money Laundering (AML) regulations came into effect, Cashaa has rolled out a new banking account entitled ‘Crypto Business/Broker’. The plan includes a UK current account, SWIFT and SEPA payments, linked Mastercard and the ability to issue Iban numbers to customers. It also offers access to Britain’s Faster Payments Scheme, a network used by the traditional financial industry, as well as the Clearing House Automated Payment System (CHAPS), Finance Magnets.

The new business accounts assist crypto companies registered worldwide, not only UK or EU-based entities. The accounts will allow them to accept both fiat and cryptocurrency payments, but before that individual and corporate entities will have to tick all the due diligence boxes of each sender/receiver when doing transactions.

Cashaa’s new account type comes with cryptocurrency conversion up to GBP 200 million and supports deposits and withdrawals in over 200 currencies, including the buck, euro, pound, and Indian rupee.

The newly featured resource will allow crypto and blockchain-related operators to create their own retail banking experience.

Cashaa has a physical presence in 14 countries and was launched in 2017 by Indian entrepreneurs to operate as a P2P money transfer and crypto trading service. India and the UK are their primary markets.

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Keywords: Cashaa, cryptocurrency, fintech, banking, blockchain, tech, product updates, UK
Categories: DeFi & Crypto & Web3
Countries: United Kingdom
This article is part of category

DeFi & Crypto & Web3