Crypto wallet and banking service application Cashaa, has announced the launch of US dollar bank accounts for crypto businesses in partnership with Metropolitan Commercial Bank.
Starting from November 25th, those interested can apply for US dollar accounts with full banking features through Cashaa from anywhere in the world, except for sanctioned countries.
Cashaa’s existing banking services include UK current accounts with a limit of 1 billion GBP with Mastercard through FCA regulated entities. The Cashaa team reports having signed up over 800 businesses since its beta launch in May 2019.
To increase the onboarding speed for new signups, Cashaa formed a pre-compliance team in September.
“Our automated process and ability to understand crypto businesses have made us a leader in the European crypto banking space. Our products are designed for startups as well as unicorns in the crypto industry, who are our customers. Since our pre-compliance team started working, our onboarding speed has doubled with our UK regulated partner entities. Partnering with a US bank will help us expand our services to the USA as well as provide our existing customers more opportunities.”
– Archit Aggarwal, Chief Product Officer Cashaa
All Cashaa’s US accounts are domiciled in the United States and have full access to ACH and SWIFT without any limits with a one-time setup fee of 250,000 CAS token.
While banking accounts are Cashaa’s core offer, the platform also offers a non-custodial crypto wallet with fiat to crypto exchange function. The wallet supports BTC, ETH, BNB as well as its own native CAS token. Most recently, Cashaa announced the support of Indian Rupee payments, enabling crypto users in India to buy and sell supported crypto using INR up to 10 million INR per month.