Cashaa Will Open USD-based Banking Services for Crypto Companies

A new platform called Cashaa has issued a press release about its new crypto-friendly banking services and added USD bank accounts.

Cashaa’s platform is simple to navigate and it offers a number of services, including “next generation banking.”

The press release explained that it has launched US dollar bank accounts, in partnership with Metropolitan Commercial Bank, for crypto businesses. The service will be available beginning November 25, and from that date, cryptocurrencies and other high-risk businesses will be able to apply for the bank accounts and access the full banking features from countries, except those that are sanctioned.

Janina Lowisz, the co-founder of the platform, shared in the press release that crypto businesses are underserved by traditional banks. The goal of the platform is to create a hassle-free experience for all businesses that are building new technologies and business models.

The press release further explains that to-date, over 800 crypto businesses have registered since the platform’s beta launch last May. The company has also had a busy few months as it sought a quick solution for onboarding genuine businesses. The platform’s current banking services include UK current bank accounts that are limited to 1 billion GBP with Mastercard.

To facilitate a quicker onboarding process and to reduce rejections, the company developed a pre-compliance team. Archit Aggarwal, the Chief Product Officer, shared in the press release that the platform’s automated system and ability to understand crypto businesses has made the company a leader in the European banking space. The products are developed for startups, and since the onboarding compliance team was put together, the onboarding speed has doubled with the platform’s UK regulated partner entities.

The platform’s US accounts will be domiciled in the United States can access ACH and SWIFT without limits. There is a one time setup fee of 250,000 CAS. Customers will also be able to onboard, they’ll have lower transaction fees, and higher limits, risk coverage, and access to customer service to support them.

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