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‘Unicas’—World’s First Crypto Bank

Published on December 31, 2020
Current Context: The World’s First Crypto Bank named as ‘Unicas’ was launched by Cashaa of the United Kingdom in partnership with United Multistate Credit Co-operative Society Ltd of
‘Unicas’—World’s First Crypto Bank
India. 
  • The ‘Unicas’ will help people to perform transactions in cryptocurrency and fiat from one account to the other.
  • The bank will offer services for crypto as well as fiat assets.
  • The UK based Cashaa will access regulatory license, physical branches and banking infrastructure of United Multistate Credit Co-operative Society Ltd of India. 
  • This will the first time in India that a finance organisation is enabled for cryptocurrency.
  • Also, World’s first Crypto bank is initiated in Jaipur, Rajasthan, India. 
  • At the initial stage, the Unicas bank will offer the online service and service through 14 branches across NCR, Rajasthan and Gujarat by Jan 2021.
  • It will offer the regular banking services like saving accounts, crypto exchange, crypto loan and debit card to transact crypto. 
  • Static Part: 
    • HQ Cashaa: London, UK
    • Founder and CEO of Cashaa: Kumar Gaurav
    • HQ of United Multistate Credit Co-operative Society Ltd of India: Jaipur, Rajasthan
    • HQ of Unicas: Jaipur, Rajasthan
    • CEO of Unicas: Dinesh Kukreja

Question: 

Q.1 In partnership with whom the UK based Cashaa launched the World’s First Crypto Bank named as ‘Unicas’?
a. United Multistate Credit Co-operative Society Ltd
b. Money Plant Credit Co-operative Society Ltd
c. Citizen Credit Co-operative Bank
d. Sahayog Co-operative Credit Society Ltd
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