Cashaa is on a mission to bank the unbanked and wants to leverage Bitcoin to accomplish it.
Bitcoin has long been touted as a way that anyone can “be your own bank.” But such promises can be misleading: Although bitcoin itself provides some opportunities for individuals and businesses to manage their own money in ways that are not possible with fiat, it doesn’t provide access to the full suite of services that a traditional bank provides.
Cashaa was launched in June 2016 and rolled out its full suite of banking services for both individuals and businesses in mid-April 2017. By offering services like International Bank Account Number (IBAN) accounts, credit card processing and international SWIFT transfers for fiat to companies that want to use cryptocurrency, the company hopes to bridge the gap between traditional banking and bitcoin.
“We are the first banking platform to not only embrace crypto completely but also give a full current account to crypto companies and SMEs [small- and medium-sized enterprises],” Kumar Gaurav, founder and CEO of Cashaa, said in an interview with Bitcoin Magazine.
Janina Lowisz, the vice president of marketing, added, “We are solving the problem which crypto-related businesses everywhere have of not