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India's Banks Embrace Crypto
Summary: India’s United Multistate Credit Cooperative Society will integrate crypto services into its banking system, according to Cointelegraph. In partnership with crypto banking services company Cashaa, United will offer both online and walk-in crypto-related services to account holders at 34 northern Indian branches of the bank. The services will include the opportunity to connect bank accounts ...
India’s United Multistate Credit Cooperative Society will integrate crypto services into its banking system, according to Cointelegraph. In partnership with crypto banking services company Cashaa, United will offer both online and walk-in crypto-related services to account holders at 34 northern Indian branches of the bank. The services will include the opportunity to connect bank accounts to crypto wallets; the ability to purchase multiple coins, including Cashaa’s own coin CAS; and the capacity to take out loans against various coins.
The bank’s new crypto compatibility comes after the Supreme Court of India’s March reversal of the Reserve Bank of India’s prior crypto banking ban. This reversal may have been inspired by India’s recent uptick in enthusiasm about crypto, which may in turn have been spurred by March’s COVID-19 lockdowns.
By Isaac Goluboff
Tags: Cashaa,COVID-19,Crypto,Crypto Wallet,India,Reserve Bank Of India
Link: India's Banks Embrace Crypto [Copy]
