Cashaa, a cryptocurrency-friendly banking service platform, is set to launch US Dollar bank accounts for businesses transacting in cryptocurrencies.
The service will be provided in association with Metropolitan Commercial Bank.
Go deeper with GlobalData
Businesses and cryptocurrency dealers can apply for US Dollar accounts from 25 November 2019. The accounts will come with all banking features and can be accessed through Cashaa platform globally, the exception being sanctioned countries.
The customers can set up their accounts with a setup fee of 250,000 CAS. All the US accounts will be based in the North American nation.
Cashaa noted that the customers will get unlimited access to ACH and SWIFT through the account.
Since its beta launch in May 2019, more than 800 crypto businesses were said to have signed up for the service.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCashaa co-founder and VP of Marketing Janina Lowisz said: “As our world is changing, new types of businesses are evolving. Traditional banks currently underserve crypto-related businesses.
“Our goal is to create a hassle-free experience for all businesses who are building new technologies and business models. The addition of US Dollar accounts is an important milestone for the crypto community and us.”
Currently, Cashaa banking services include UK current accounts having a £1bn limit with Mastercard. All bank accounts are regulated by local watchdog FCA.
