The technology world is changing and so is the financial world. Since its inception, cryptocurrency has gradually encroached into the global financial systems. At first, people and institutions feared to indulge due to the risky nature of the new technology. Nonetheless, adoption is slowly becoming a norm. Now, people and businesses that need crypto-friendly banking service have a new platform that they can try.
A London-based online bank, Cashaa recently launched. They promise the use of a single account for old and new money. A majority of its products target the individuals and institutions that the traditional financial systems do not serve. It is always a challenge to open a first bank account for young companies in many jurisdictions throughout the world. However, maybe the new account will help.
The business accounts that Cashaa has on offer are developed to suit small and medium enterprises and startups registered worldwide. The accounts will enable the businesses to accept both crypto and fiat payments. Cashaa’s Start plan lets users already having a bank account to add a crypto payment option for their customers.
The accounts have cryptocurrency conversions of up to £1 million. Moreover, they support deposits and withdrawals in at least 200 local currencies that include British pound, US Dollar, Indian Rupee, and Euro.
In the case of the Standard Account Plan, it provides a UK current account and a free operations account that links with a MasterCard. It additionally offers crypto storage with easy conversion to fiat. Local and international transfers are supported. Cashaa’s Advance Plan is formulated for crypto companies. It features Swift and local payments, a UK current account, and it is linked with a MasterCard.
The Advance Plan also offers users the ability to issue IBAN numbers to customers. The Business clients can use Cashaa’s services to accept all types of bill payments. These payments include cross boarder and online payments from customers at checkout and payments in physical locations like retail shops and restaurants.
For now, the platform processes ethereum and bitcoin core payments via conversions to multiple fiat currencies. The personal accounts that Cashaa offers have a multisig wallet and the ability to transact in cryptocurrencies. Major coins, including bitcoin cash, are supported with a flat fee of 1.49%.
Customers can also deposit funds through bank transfers in over 200 countries and also withdraw local currency directly.