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In an interview with TechGraph, Kumar Gaurav, Founder & CEO of Cashaa, shares the company’s mission to simplify investments, cross-border transfers, and everyday transactions with blockchain technology, while promoting widespread adoption through strategic partnerships.
Read the complete interview:
TechGraph: Can you tell us about Cashaa’s history and how it became a blockchain and crypto-based financial institution?
Kumar Gaurav: Cashaa was launched in 2016 with a singular vision — to revolutionize blockchain-based financial products. We embarked on our journey as a peer-to-peer cash transfer system, utilizing Bitcoin infrastructure. However, it didn’t take long for us to realize the inherent challenges faced by crypto businesses. These challenges include being underserved and often relegated to second-class status by traditional banks.
Determined to fuel the unstoppable growth of the crypto industry, we made a bold decision to create a dedicated banking platform tailored specifically to meet the needs of this thriving ecosystem.
Today, we proudly stand at the forefront of business banking, empowering hundreds of crypto-native enterprises to deliver robust and innovative products to their users.
TechGraph: How does Cashaa leverage blockchain technology to provide financial services to its customers?
Kumar Gaurav: Cashaa provides crypto-to-fiat and fiat-to-crypto on/off ramping solutions and dedicated banking account solutions to blockchain-based crypto companies, which is the lifeblood of any crypto business today.
We use blockchain technology to provide incentives, discounts, and investment opportunities to our B2B and retail customers through our native blockchain-based token called CAS.
TechGraph: Could you explain Cashaa’s approach to security and regulatory compliance in the crypto-based financial sector?
Kumar Gaurav: We consider security and regulatory compliance to be the hallmarks of any business in the world, especially an Information Technology and blockchain-based business like ours. We provide all of our solutions only after vetting them through these two lenses. We also continuously upgrade our security measures and tweak our solutions to remain regulatory compliant in all jurisdictions in which we operate.
TechGraph: What are Cashaa’s plans for expanding its blockchain and crypto-based financial services and offerings?
Kumar Gaurav: After becoming a go-to for the blockchain and crypto-based industry in 6 years, Cashaa has recently launched its yield-focused personal wallet solutions for retail customers in over 200 countries. We see the primary growth drivers for our business are inextricably linked to the mass adoption of the Cashaa wallet and exchange in the retail segment.
TechGraph: What role do you see Cashaa playing in the broader adoption of blockchain and cryptocurrency technology in the financial industry?
Kumar Gaurav: We see it as our true calling in bringing blockchain technology to the masses. We want to make it very easy to invest, transfer funds overseas, pay with crypto for your everyday expenses, and be in control of your assets at all times.
Also, we have been providing the key link and access to fiat on/off ramping to blockchain and crypto-based companies for over 6 years now, which has also driven broader adoption of the technology to the masses through the various solutions and innovations done by these companies.
TechGraph: How does Cashaa balance the need for innovation and staying ahead of the curve with the responsibility of providing safe and reliable financial services to its customers?
Kumar Gaurav: Providing robust and reliable financial services to our customers and partners has been our #1 priority at Cashaa from the get-go. We do this by vetting, intensively testing, and getting approved by compliance, for all of the new technological, process-related, operational, and customer-experience-related innovations that happen at Cashaa.
We have developed and evolved at a deliberately slower pace than our peers primarily for this reason. In the long run, this has helped Cashaa maintain its strong standing, with significant future growth potential, even after enduring multiple bear cycles in the crypto and financial industry over the past 7 years.
TechGraph: Can you talk about Cashaa’s approach to financial inclusion and how it leverages blockchain technology to reach underserved communities and populations?
Kumar Gaurav: Cashaa drives financial inclusion with its two-pronged approach. One is by providing the fiat on/off ramp link to the real world to blockchain and crypto-based companies who are constantly innovating and bringing new-age and inclusive financial solutions to the masses around the world. Second by making our crypto on/off ramping, high-yield, and payment processing solutions available to our global retail market of everyday users.
TechGraph: How does Cashaa handle the cryptocurrency market volatility and ensure its customers’ assets are protected?
Kumar Gaurav: We commit to protecting and safeguarding our customers’ funds and investments. We are deliberately conservative in how much yield we provide and which coins/tokens we provide them with. For example, we offer a 2% yield on our native token CAS, while offering our highest 20% yield on USDT/USDC.
While CAS is our native token, the demand for it in the market for real-world business use is limited at the moment. Stablecoins on the other hand find a lot of demand for inter-border payments, cash-flow and working capital needs of businesses, etc. As we can generate higher yields on stablecoins, we provide higher yields to our customers on them, instead of spending high amounts of shilling on our native token.
TechGraph: What are the biggest challenges facing the blockchain and crypto-based financial market, and how is Cashaa addressing these challenges?
Kumar Gaurav: Regulatory compliance is the biggest challenge facing the crypto industry today. Regulations are critical in any new sector to provide proper grounding and accountability for companies to their customers. But industry regulations are yet to catch up in many jurisdictions around the world. We comply hand-in-hand with regulations in the jurisdictions we operate in.
Building upon the success of our personal wallets and yield app, we are now set to introduce instant and low-interest crypto-backed loans tailored for retail users. By doing so, we aim to empower the masses and provide financial independence.
Through our innovative loan offerings, we strive to bridge the gap between traditional financial systems and cryptocurrency potential, all while adhering to regulatory requirements and maintaining the highest standards of security and compliance.