When the future of cryptocurrency in India is uncertain
The big question is whether the Reserve Bank of India will allow Kasha to start operations in India
MUMBAI: At a time when the future of cryptocurrency in India is currently uncertain, according to a report, cryptocurrency bank Kasha is planning to start operations in India. According to a report, Kasha will launch a virtual currency similar to Bitcoin in August.
Kasha's entire work will be done through the Credit Cooperative Society. According to a leading Indian newspaper, Kasha has started some branches of Unix, the world's first crypto-friendly financial institute, in India.
The company has started the work with the help of United Multi State Credit Cooperative Society. Unicas provides both crypto and Fiat connected services in India. This service is offered on a single savings account. Kumar Gauerve, the founder and CEO of Kasha, has given information about this himself.
Kasha Bank's plan is ambitious. The bank will provide loans to customers to buy cryptocurrencies. There are also plans to open a savings account for customers. The government, on the other hand, is also planning to regulate cryptocurrency.
The key question is whether the Reserve Bank of India will allow Kasha to start a business in India. In response to this question, Kumar Gauirve said that United is a multistate credit cooperative society. Which is registered in India. And it functions under the Registrar of Societies. Only members who are its members can join.
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