Online crypto banking platforms, Cashaa and the United Multistate Credit Cooperative Society have launched the world's first physical crypto bank, Unicas.
Unicas crypto banks were initially set up online before being physically launched.
The launch proves that the crypto industry in India is well received even though there is still no certainty in the legislation related to cryptocurrencies.
The first Unicas branch opened in Jaipur, India.
Unicas users have the opportunity to conduct transactions in cryptocurrencies and the national currency, INR through the same account.
In general, these crypto banks provide the same services as conventional banks, including providing the purchase and sale of crypto assets as well as loans to digital assets.
Cashaa also said they plan to expand the Unicas wing by opening another 14 branches by January 2021.
Meanwhile, 100 branches are expected to open before the end of 2022.
