Indian crypto industry expanding, regulators seem reluctant to engage By Cointelegraph


Indian crypto industry expanding, regulators seem reluctant to engage

The people of India are awaiting access to crypto banking services, as British-based fintech firm Cashaa has collaborated with India’s United Multistate Credit Cooperative Society to launch a crypto-centric banking company called Unicas that will initially open 34 branches in Northern India and plans to have expanded to 100 branches by next year.

Considering that India is largely a savings-driven economy, Unicas will also offer crypto saving accounts that pay interest on deposited crypto. This could act as a catalyst for co-operative credit societies in India to enter the market and make the most of this opportunity.