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Cashaa Recognized for Leading the Way with Its Banking Service Offerings for Crypto Businesses

Cashaa Recognized for Leading the Way with Its Banking Service Offerings for Crypto Businesses

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Matt Walker
By: Matt Walker
Posted: February 25, 2020

Our experts and industry insiders blog the latest news, studies and current events from inside the credit card industry. Our articles follow strict editorial guidelines.

In a Nutshell: The blockchain ecosystem is growing yet many traditional financial institutions do not offer services for crypto companies. Cashaa is changing that with its crypto-friendly business account that provides companies within the space the ability to transact in a hassle-free manner. The company also facilitates payments via cryptocurrency which offers significant savings over credit cards and protects against identity theft and chargebacks. Security takes on high priority at Cashaa, which is why its Cashaa Multisig Compliance (CMC) wallet is ideal for businesses in the space. Because of its innovative solutions and attention to detail when it comes to facilitating crypto-friendly business banking services, we are recognizing the company with our Editor’s Choiceᵀᴹ Award as a Crypto-Focused Business Banking Leader.

Today’s fast-moving, globalized economy offers more business opportunities than at any time in history, thanks to the internet. Yet, many companies that operate in the growing cryptocurrency ecosystem are locked out of accessing necessary financial services to run a successful business.

Cashaa Logo

Traditional institutions tend to view blockchain and crypto-oriented businesses with caution due to perceived (if not always accurate) ideas about volatility, infrastructure, compliance, and regulatory issues in the space. That means innovative crypto startups are not able to continue simply because they are unable to access banking services easily attained by traditional businesses.

Cashaa is a fintech platform helping to solve these problems with modern, convenient solutions for crypto-oriented businesses.

Because of its innovative solutions and dedication to creating opportunities for businesses in the global economy we are recognizing Cashaa with our Editor’s Choiceᵀᴹ Award as a Crypto-Focused Business Banking Leader.

Cashaa Co-Founder and Vice President of Marketing Janina Lowisz spoke with us about the company’s mission and its approach to modern solutions to today’s crypto-based businesses.

Quality Business Banking with Crypto-Related Companies in Mind

“The main focus of the business is the business banking,” Lowisz said. “Bank account applications are getting declined and existing accounts can get canceled any time.”

She said the problem is much more pressing for businesses than individuals because there are numerous alternatives to traditional banks for individuals.

Janina Lowisz

Janina Lowisz is Co-Founder and VP of Marketing at Cashaa.

“For businesses, there was no such option,” she said. “We are a banking services provider, aggregating multiple banking partners. We combine their services with the crypto features so people can have it all in one place”

Cashaa’s goal is to help these underserved crypto-related businesses by creating a hassle-free experience for STO-backed companies, exchanges, wallets, and brokers.

Aside from business banking, Cashaa also offers a crypto-fiat exchange, including for users in India, where it became highly popular since its launch in October 2019. Cashaa recently reduced its fees by 50% for the country’s customers.

“As a New Year gift from Cashaa to its India community, the company decided to reduce its service fee from 3.49 % to 1.49%, resulting in a Bitcoin price in INR equal to global giants such as Coinbase or similar reputed services,” according to a press release.

Users can also pay a fee in Cashaa’s CAS token and get a further discount of up to 35%, which would make the net fee less than 1%.

Lowisz said Cashaa’s entry into the Indian market helped solve an urgent problem in the country because, prior to Cashaa’s availability, Indian businesses and individuals only had access to small, expensive exchanges with very little liquidity.

The Advantages of Accepting Cryptocurrency Payments

Cashaa not only gives crypto-related businesses access to banking services, but the company also provides companies with the capabilities to accept payments in cryptocurrency, which ultimately results in big savings for the companies.

“Credit cards take up to 3% in processing fees on every transaction,” according to the company website. “Accept Bitcoin and CAS with Cashaa and get direct bank deposits in your own currency for a simple, flat 1% settlement charge.”

Bitcoin Payment Image

Cashaa helps businesses save money and protect against fraud by facilitating crypto payments.

Accepting cryptocurrency payments also helps businesses avoid exposing themselves to the risks and costs associated with chargebacks and identity theft.

“With Bitcoin and CAS, customers can pay without handing over sensitive personal information, and refunds are made through the merchant — no chargebacks,” according to the company.

Cashaa clients can also connect to truly borderless payment networks by adding Bitcoin and CAS payment capabilities, allowing them to sell to anyone, anywhere.

“Receive payments in any amount, from anywhere in the world, from any computer or mobile device,” according to the company. This applies to in-person retail payments and to accepting donations online as well.

Additionally, businesses can quickly and easily send invoices to vendors and accept the funds directly into their bank accounts in 200-plus local currencies. Bank deposits are currently enabled in 200 countries, according to Cashaa.

Cashaa’s innovative offerings have not gone unnoticed in the finance and tech industries. In 2018, the company was named the Technology Provider of the Year for SME by Entrepreneur Magazine. It has also been named on numerous top emerging fintech business lists by industry publications.

Cashaa Maintains a Strong Focus on Security

While Cashaa delivers banking functionality to crypto-related businesses that may not otherwise have access to such services, the company takes great measures to ensure that its clients are protected as well.

Cashaa’s Cashaa Multisig Compliance (CMC) wallet is the key to its security tactics.

“CMC wallet for businesses holds all the security and compliance features together with API access to integrate the features to business CRM and payment systems with advanced utility to create multiple admins, maker and checker option for a day to day business operation,” according to the company.

The wallet is built around two main features.

“First, it offers compliance features designed to assess the risk of each wallet transaction. Transactions identified as high risk are reviewed by the Cashaa team,” according to Bitcoin Magazine. “The second feature is a multi-signature architecture that requires three keys for a wallet transaction. This is another security feature designed to reduce fraud.”

With its built-in anti-money laundering and compliance checks, businesses can avoid conducting business with any addresses associated with, or suspected to be associated with, any criminal activity. Interacting with such entities can result in loss of business continuity, lawsuits, and other measures detrimental to revenue and reputation.

With these features, the company is meeting market demands for higher security in the crypto space.

The CMC wallet also features an integrated exchange service where users can trade fiat currency for cryptocurrency, according to the magazine.

“Security, compliance, and decentralization are fundamental principles of our design architecture. Cashaa’s vision is to remove any single point of failure,” according to Cashaa. “Our multi-sig wallet for digital assets will give our users security and trust which is fundamental to the blockchain revolution.”

As more businesses enter the cryptocurrency space, demands for crypto-friendly banking services within the market are on the rise, and Cashaa is there to meet them.