Thank you to the NanoNews Community for participating in Ask Me Anything (AMA) with Cashaa on June 15, 2020. This guest star is Cashaa Co-Founder & VP Corporate Service Janina Lowisz. If you were unable to join the live AMA, no worries, here comes our 16th AMA recap!

We are glad to meet here:
Co-Founder & VP Corporate Service, Janina Lowisz
For taking your time out from busy schedule for the AMA!

Introduction Segment

Q1: Can you introduce yourself to the community? What is your background and how did you join Cashaa?

My name is Janina Lowisz, I am Co-Founder & VP Corporate Services of Cashaa, and joined in July 2016, a few days after Cashaa was formed. I will help you get banked, open a company and get a license. I have been in the crypto space since January 2013 and before Cashaa, I worked in American Express, was co-founder of Bitnation and worked in a range of other crypto startups such as exchanges and related media.

So I had a big network of many useful crypto people to start building the business, which is why I could join Cashaa.

Q2: Can you briefly describe what is Cashaa? and what makes Cashaa different from other competitors?

Cashaa is the largest crypto-friendly neo-bank based in the UK, providing services to more than 1400+ businesses from the crypto industry. Our partners include Paysafe Group and many others, including financial institutions and trusts regulated by the FCA, Central Bank of Lithuania, and Colorado Division of Banking.

Existing services:

  1. UK current account
  2. Euro IBAN account
  3. USD account
  4. Card processing, powered by Paysafe
  5. Exchange services for BTC, ETH, CAS and USDT in INR, Euro and GBP

Please also have a read through the white paper, especially the roadmap section, to know everything important about us:
https://storage.googleapis.com/cashaa-cdn/cashaa-bank/pdf/Cashaa_whitepaper_v2.pdf

What makes us different from competitors (traditional banks and challenger banks):

  1. We do not risk user deposits, all (100%) funds have to be kept with the central bank, vs regular banks keep only 1%-5% and risk other 95% for there own profit.
  2. High street banks do not like Bitcoin/ crypto companies vs we are crypto-friendly and committed to providing services to crypto business. We are one of the few crypto-friendly banking service providers worldwide, and among those, the only one with that wide range of services, while others only offer one currency and/or have higher fees or higher minimum deposit requirements.
  3. You can manage cryptocurrencies from our account but not from your bank account.
  4. You can spend cryptocurrencies directly from Cashaa account using our debit cards.
  5. You can withdrawal local cash or do online shopping using your crypto balance.
  6. You can convert your crypto into local currencies without risking it on unregulated exchnages.

Q3: What technology stands behind and What are its advantages?

We use our regulated partners’ infrastructure which gives all the standard features which a normal account from a traditional bank provides. Additionally, we provide a crypto wallet with exchange where you can buy the main cryptocurrencies using GBP, EUR and INR.
We use tracking tools from an industry-leading partner for ongoing crypto transaction monitoring, making sure our users stay compliant and not deal with bad actors.

Question Twitter

Q1: About partnerships, could you tell us which ones are active and what are the advantages going to be from those and Any big Partnership?

We are partnered with multiple regulated entities that are issuing GBP, EUR, and USD accounts (regulated by the FCA, Central Bank of Lithuania, and Colorado Division of Banking respectively), while we are in the process of getting our own FCA license. These regulated entities have been the most important partnerships in our history and were crucial to become who we are today. Most recently, our latest banking partnership with a US entity has enabled us to launch USD accounts, for which we started onboarding 2 weeks ago.

Q2: Are there any new partnerships and interesting upcoming use-cases?

Here is our roadmap for the remainder of the year. Upcoming services:

  1. Fiat on-ramp for GBP, Euro, USD and INR (June 2020)
  2. Institutional liquidity API in EUR/GBP/INR/USD for 5 top market cap assets. (June 2020)
  3. FX and international transfer (July 2020)
  4. INR banking (September 2020)
  5. Cash handling from 43 branches in Indian Rupees

Mega launches:

  1. Cashaa banking platform (July end 2020)
  2. Personal banking (August 2020) We are expecting all these points to increase CAS demand, as each user will require CAS to access our services.

Q3: I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose $CASHAA token over the existing one ? What is your token advantage that can convince me to change from my favorite token?

CAS powers the whole Cashaa banking ecosystem. CAS has multiple utilities such as application processing fees, set up fees, discounted international wire, exchange fees, transaction fees, and access to crypto-friendly banking services restricted only for CAS holders.
As we grow, CAS demand will grow, with every new service we are launching. Most notably, we are expecting a surge in demand this year when our own banking platform with personal banking will go live.

Q4: Staking seems to be popular right now on many blockchain projects to encourage investors to hold tokens and make it healthful for the project ecosystem.? Does Cashaa support this as well?

We have a staking programme of 100,000 CAS to allow personal users get access to crypto-friendly international banking.
The opening of personal accounts will start in July 2020. Only 21,000 Personal premium accounts with Visa cards will be issued in 2020 to give our international banking advantages only to the early adopters.
Follow Cashaa on Twitter and Join on Telegram to not miss the amazing banking services:
https://twitter.com/yourcashaa
https://t.me/CashaaLtd

Q5: Cashaa can help businesses set up companies, if any, where do we provide services to set up companies?

On our website, we have listed Estonia, UK, Malta, Cyprus and Gibraltar: https://cashaa.com/company-formation Among these, Estonia by far is the most popular choice due to its most advanced and long-standing regulation, fast process, low fees, no corporate tax, and attractive e-residence.
We can also get you a new crypto license (process 3 months), or alternatively a ready-made Estonian company with crypto license to get you started right away within 2 weeks.
We can also help with other attractive countries worldwide, however, due to open banking, customer privacy laws, and many advantages in Europe, we encourage companies to get domiciled in Europe, and as it makes it easier to get all our services.

Live AMA

Q1: Is Cashaa a service that can be useful for remittances and sending money to family members? What are your goals for India this year?

In India, we are currently providing liquidity to all top exchanges and roughly 50+ big OTC traders. We also have retail users of 1000+ who are mostly CAS owners and are getting cheaper crypto than regular users. As a B2B provider we are more focused towards the users who are OTC dealers or exchanges. We do have plans to enter into the retail segment in India, for banking service with cryptocurrencies, not only as exchange service. https://www.forbes.com/sites/billybambrough/2020/04/10/bitcoins-next-boom-has-already-begun/

So, yes, you can use Cashaa for remittances as well – either waiting until we have launched personal banking, or you can use our existing personal accounts to send crypto, and cash out locally.

Q2: What is the purpose of CAS token? What is the advantages of keeping this CAS token for a long and short term?

CAS powers the whole Cashaa ecosystem, which is everything about banking. We are building a better bank that understands and supports cryptocurrencies.

CAS has multiple utilities such as application processing fees, set up fees, discounted international wire, exchange fees, transaction fees, and access to crypto-friendly banking services restricted only for CAS holders. For more information on all the use cases of CAS, please see https://cashaa.com/CAS-banking-the-crypto

Especially with the large upcoming milestones, and with our growing user number, CAS utility is growing continuously, and we are expecting an exciting coming months ahead.

Q3: A day ago this headline came out “Estonia Revokes 500 Crypto Firms’ Licenses After $ 220 Billion Money Laundering Scandal”: CASHAA offers services for this jurisdiction, has this event affected you? as you are handling the situation, what news do you have for us?

The article was based on news from 2 years ago, and the results already were that since March this year, the requirements to obtain a license were increased, and we of course help you to follow the new regulations, e.g. being able to find you the newly mandatory local director, local compliance offer, local physical office and all of that.
The adjustment was that whereas in times when obtaining a license was still easier, the process was 1 month only. Now as the process with the new situation is 3 months, we have introduced ready-made companies, which already have the license, so you can get started within 2 weeks.

The article was related to those not following the new regulations – Estonia still is one of the most attractive crypto friendly jurisdictions worldwide, and the new regulations are welcomed as good, making it more mature, and better filtering the huge amount of applicants.

Q4: When I’m roam around the website I saw “ Crypto License “ . What is the relation between Cashaa and crypto licence ? Can you please tell me the easiest way to get a crypto licence for newcomers ? And what type of benefits can we get from thisCashaa Crypto License ?

We can help you open you a company in Estonia and get a virtual currency operating license:
The virtual currency service provider license covers:

  1. Virtual wallet service. It allows providing hot and cold virtual currency wallet service, generating or storing users keys for the purpose of keeping, storing and transferring virtual currencies;
  2. Exchanging virtual currency against fiat currency. Licenses allow fiat to crypto, crypto to fiat transactions;
  3. Exchanging virtual currency against virtual currency. Licenses allow crypto to crypto transactions.
    The licenses allow:
    To issue your own token (ICO);
    Wallet services;
    Exchange services;
    OTC;
    IEO;
    To sell bitcoin via bank transfer and via debit/credit card;
    To trade with utility token globally: Crypto to crypto, crypto to fiat, fiat to crypto transactions.
    The process to open and get the license takes 3 months, so it is instead popular to instead buy a ready-made company which can get you started right away.

the easiest way is to simply contact me to get started 😉

Q5: Is there Cashaa have plan to issue special cards for cashaa users, like traditional banks?

Yes, we are planning to add cards. The cards can be used in any country where Visa cards are accepted. Cards will be available for European residents and can be obtained with an account from us. As a business you can now sign up and apply for an account with us, and get the card that comes with it (depending on your selected plan). Personal accounts will come in August.

For anyone who has been following us longer, they may be wondering what the takeaway is for them – what is new in this AMA compared to before – and yes, there is:

We have started onboarding for USD accounts with a new partner 2 weeks ago, and we are planning to make the official announcement very shortly 😊

so, stay tuned, official announcement coming soon in the official group, make sure you join!

Social Media

Website: https://cashaa.com/
Telegram:

  1. t.me/CashaaLtd
  2. t.me/cashaanews

Twitter :

  1. https://twitter.com/yourCashaa
  2. https://twitter.com/kg_Cashaa
  3. https://twitter.com/blockchaingirl

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