HomeLatest Startup News & Updates for Indian EntrepreneursCashaa Regulatory Compliance Set’s...

Cashaa Regulatory Compliance Set’s Best Practices for ICO – Aims to Reach the Next Billion Users With Blockchain-based Banking Services

New Delhi, December 26, 2017: Cashaa, the blockchain-powered ‘Banking Platform for the Next Billion’ today announced that it has successfully sold ​$18.5​ ​Million worth of tokens by following strict KYC and regulatory compliance. The month-long campaign saw participation from more than 50,881 users including emerging markets all over the globe.

Cashaa Regulatory Compliance Set’s Best Practices for ICO - Aims to Reach the Next Billion Users With Blockchain-based Banking Services

Cashaa token is implemented using public Ethereum standard. Normally a Token sale only takes place in cryptocurrencies, but due to strong regulatory understanding and ability to work closely with payment companies, Cashaa becomes the first token sale that allowed participants to use Paypal, Credit and Debit cards for Fiat to let non-crypto users acquire Cashaa Tokens.

Cashaa KYC process was carried out to regulation approved standards, and as a result, it has rejected $14.34 Million USD from the unqualified applicants. The KYC applications will continue to be reviewed until Jan 5th, 2018.

Commenting on the occasion, Kumar Gaurav, Founder & CEO, Cashaa said, “We are really excited to experience the growing enthusiasm around Cashaa. As a product-driven company, our focus is to solve the problems using disruptive technologies to create products and services for simple and easy to use. Cashaa is utilizing the best of the blockchain industry with the liquidity of regulated national currencies & FOREX industry to build the next-generation banking solution.

Cashaa is creating a better bank, challenging legacy banking by building an app and products with input from our community of users. Our blockchain based platform enables its community to store, save, spend, receive, borrow and get insured, with a simplified user experience in a legally compliant way. Ultimately, Cashaa aims to become a one-stop-shop for financial needs.

India is a big part of our global expansion plans and we are well aligned with our vision of bringing the truly next-generation banking experience for the next billion users in India. We are expected to launch our advanced wallet system in Europe in Q2 and by end of Q3 in India,” Kumar added.

No further tokens are now being sold by Cashaa but new users can register with Cashaa to get the notification for the exchanges where Cashaa Tokens will be listed by 15th January 2018.

Most Popular

More from Author

IIT Bombay’s Eureka! 2023: The Ultimate Opportunity for Startup Founders

Eureka! 2023 by IIT Bombay - Where early-stage startups get the guidance they need to thrive. Discover this year's competition for entrepreneurs.

G20 Sidelines: Saudi Arabia displays Vision 2030, hosts ‘Media Oasis’ in Delhi

Discover how Saudi Arabia is showcasing Vision 2030 on the G20 stage. Join us at 'Media Oasis' in Delhi.

Read Now

IIT Bombay’s Eureka! 2023: The Ultimate Opportunity for Startup Founders

Eureka! 2023 by IIT Bombay - Where early-stage startups get the guidance they need to thrive. Discover this year's competition for entrepreneurs.

Gamoski Networks Unveils Natural8 India with Five Freeroll Tournaments and an INR 28.44 Lakh Prize Pool

- Spearheaded by Kunal Patni and World Series of Poker (WSOP) Bracelet winner Nikita Luther, the platform introduces the internationally acclaimed Natural8 brand to India, with the aim of providing top-tier online poker experiences. Gamoski Networks has made a significant entrance into the Indian iGaming landscape with the...

Boon Collaborates with Niti Aayog to Revolutionize Water Resource Management

AatmaNirbhar Bharat: Boon's Partnership with Niti Aayog for Water Innovation

G20 Sidelines: Saudi Arabia displays Vision 2030, hosts ‘Media Oasis’ in Delhi

Discover how Saudi Arabia is showcasing Vision 2030 on the G20 stage. Join us at 'Media Oasis' in Delhi.

Celebrating World EV Day: Insights from Visionary Entrepreneurs

World EV Day, observed annually on September 9th, is a global celebration that highlights the significance of sustainable electromobility and recognizes the growing community of electric vehicle (EV) enthusiasts and owners worldwide. This day serves as a reminder of the pivotal role electric vehicles play in reducing...

Startup Odisha’s Yatra and Xpress 2023: Shaping the State’s Startup Ecosystem

Igniting Entrepreneurship: Startup Odisha's 2023 Initiatives Transforming the Landscape.

NAREDCO Maharashtra Unveils India’s First RealTech Fund at The Real Estate Forum 2023

RealTech Fund Inauguration at The Real Estate Forum 2023 by NAREDCO Maharashtra

How this Pune-based Startup is Transforming Healthcare Delivery

From Pune to the World: A Startup's Impactful Journey in Healthcare Transformation.

Zebronics Redefines Home Audio with ZEB-Juke Bar 1000 and Dolby Atmos

Zebronics presents the ZEB-Juke Bar 1000 with Dolby Atmos, a compact soundbar with a powerful punch.