New Delhi, 12 May 2022: Cashaa , crypto friendly neo bank has announced securing a European Crypto License in Lithuania. Further to the achievement, Crypto Innovations UAB has now acquired the Cashaa brand to accelerate developing the CAS ecosystem. With this development Cashaa becomes regulated and can continue to provide a more secure ecosystem to the users. Now, Cashaa can offer crypto services without any interruption, giving its customers a more guarded and trusted service.
Being a regulated entity now, Cashaa will have to follow the specific protocols to be compliant and report it to the government officials. Cashaa will now be required to have sufficient capital on hand to cover payouts to its customers. Furthermore, it will also be required to have regulated institutions and banks to segregate client funds. Another benefit of being regulated is that Cashaa as an entity would be required to ensure its funds for security, thus being safeguarded against any hack or other similar threats.
Users can be assured that now their money with Cashaa is more secure than ever. Additionally, Cashaa will also have a sound anti money laundering, customer due diligence section, and even more robust KYC-related policies.
“There have been a lot of speculations across the globe regarding the latest technology products including crypto and blockchain. Cashaa has now secured the license which clears the air for all. We have been putting all the efforts towards offering a secure, and advanced banking experience to the users, and will continue to move in the same direction. As we progress the users will gain more faith in the ecosystem and eventually enjoy the shift to an infrastructure which offers far more efficient operation than the traditional one,” said Mr. Kumar Gaurav- Founder & CEO, Cashaa.
The brand has been working on cutting edge technologies to provide the finest banking experience which is more efficient, accurate and time saving. The Neo bank plans on launching a spree of new services to benefit users in the coming quarters itself. It will also foray into new geographies and penetrate new markets.