A financial firm ‘Cashaa’ referring itself as a “cryptocurrency-friendly neo-bank,” has successfully raised around $5 Mln from Dubai-based blockchain investment & advisory firm 01ex.
In line with a recent official announcement published, London, United Kingdom-based firm added that it’ll soon be launching in India & possibly add the rupee to its list of supported currencies alongside the USD, the euro as well as pounds sterling.
According to Cashaa CEO & founder, Kumar Gaurav:
“India has tremendous potential in its fintech sector. We believe that subsequent big evolution within the banking & cryptocurrency ecosystem can actually happen from India.”
The new investment will, in part, go forward covering the losses from a hack of its Delhi-based OTC [Over-the-Counter] operation earlier in the month of July of this year.
The hack saw $3 Mln stolen, the firm revealed, adding that users who lost Bitcoin [BTC] within the breach have already been reimbursed from Cashaa’s own funds.
Cashaa’s general operations weren’t suffering from the attack, that affected only ”personal systems,” per the announcement.
The company previously raised $33 Mln via a token sale earlier in 2017.
Cashaa offers banking services to cryptocurrency firms and says it now has over 100 companies employing its beta service.