Cryptocurrency wallet and payment app Cashaa, announced it has enabled INR (Indian rupee) deposits and purchases of crypto in India for residents, up to 1 crore INR per month.
Founded in June 2016, a large portion of Cashaa’s users had been based in India, which for the past years had a difficult relationship with cryptocurrency.
Since July 2019, banks and other financial institutions have been forbidden to provide services related to cryptocurrencies, such as transacting with exchanges and other crypto businesses.
While access to crypto in India through banking no longer exists, Cashaa was able to find a solution. With crypto users in India currently left without any stable option, Cashaa expects many of them will opt for Cashaa including buying the required 2,500 CAS required to access the new service.
Increasing CAS Utility
The Cashaa ecosystem has also been enhanced with new features with the Cashaa team increasing utility for its native CAS token. With the addition of new CAS use cases: CAS holders worldwide can participate in a staking program and get a quarterly revenue share. Personal and business users will also be able to pay for transaction fees and get other discounts.
Since Cashaa’s banking services launch in May 2019, Cashaa reports that its crypto-friendly bank accounts have received solid demand including more than 700 business signups, many of which are still in the process of onboarding.
The CAS token is currently available at Binance DEX and the Cashaa wallet.