Today we would like to tell you about the AMA session with our friends from Cashaa. The AMA took place on September 19 and our guests was Janina Lowisz (Co-founder).
The total reward pool was $500 and it was splitted into three parts.
In this AMA Recap we will try to summarize some of the most interesting points for you.
PART 1, INTRODUCTION AND COMMUNITY QUESTIONS
Mary | Satoshi Club: Hello, Satoshi club! We are happy to announce that our guests today are from Cashaa.
Janina Lowisz: Hello everyone! great to be here. ☺️
Mary | Satoshi Club: Welcome to Satoshi Club 😀 @BlockchainGirl. How are you today?
Janina Lowisz: Thanks everyone for joining! I’m very well thanks.
Mary | Satoshi Club: Can you introduce yourself and how did you start with Cashaa?
Janina Lowisz: My name is Janina Lowisz, I am co-founder and VP Corporate Services of Cashaa. I joined when Cashaa started, in 2016, and overall I have been in the crypto space since 2013. I will help you get banked, open a company, get a license, and get any of our other products and services.
Q1 from Telegram Username @stekbyte
The website says that services is only available for the companies registered in the UK and Europe. Are you planning to expand your service area?
Janina Lowisz: First of all, Cashaa is a neobank that includes the following live services so far:
UK Current account, EUR IBAN account, US Current account, Online payment processing, Debit and Prepaid Card issuance, FX and crypto liquidity.
Our main offer is the UK current account, EUR IBAN account, and US current account – these 3 accounts are available for businesses worldwide, except for sanctioned countries, whereas our online payment processing and the debit and prepaid card issuance is only available for companies registered in the UK and EEA. if you don’t have a business from this area, we can register it for you, e.g. in the UK, Estonia, Malta, Cyprus or Gibraltar.
Mary | Satoshi Club: It includes only Europe Union countries? EUR IBAN? For example, I live in Europe, but we are not EU.
Janina Lowisz: EUR IBAN accounts are also available for businesses worldwide, except for sanctioned countries, so if you live in a non-EU country or your business is from a non-EU country, you can apply for this account as well.
Gold Rocket | Satoshi Club: This is a very important package of banking services. and it can be very interesting.
Janina Lowisz: Thanks! yes, we are solving one the biggest problems of the crypto space, the lack of crypto-friendly banking services.
Mary | Satoshi Club: What advantages my business will get from this account?
Janina Lowisz: Our accounts include all the features that you would get from a traditional bank account – without getting judged based on the industry you’re in. traditional banks and other challenger banks would decline your application if you are involved in crypto. That is the reason we exist, to provide a crypto-friendly alternative. with our accounts, you get all you need to smoothly run your business. Here is more information on each account:
EUR account: https://cashaa.com/euro-current-account
USD: https://cashaa.com/usd-current-account
GBP: https://cashaa.com/UK-current-account
Gold Rocket | Satoshi Club: It is a very necessary solution for today to combine crypto and banking system.
Janina Lowisz: Yes, that is another advantage – having come from the crypto space ourselves, we understand the pain points and have built Cashaa with that in mind, what a crypto business needs, and combining traditional banking with crypto. As you mentioned international expansion earlier, another point:
In 2021, we want to expand in the US and India. We already started issuing USD accounts regulated by the Banking Division of Colorado, to our existing business clients as beta users. Crypto brands who already started to use our USD accounts are Nexo, CoinDCX, Unocoin etc. Concerning India, we are already the largest liquidity provider and providing offshore banking to most of the major crypto exchanges. We are now planning to launch a neobank to start crypto-friendly banking in India regulated under the Reserve Bank of India.
So, while we are alredy available worldwide, we are ongoing working on adding more products and services to become even better. ☺️
Mary | Satoshi Club: India, it’s great, but what about rumors that India wants to ban crypto? Or it’s just speculations?
Janina Lowisz: Speculations have kept coming and going for a long time, and in earlier years it was the same with other countries, so the current situation is nothing new. eventually, nearly every country in the world over time has become positive and constructive, and doesn’t ban it.
Q2 from Telegram Username @Jonahapagu
I see that your Your Regulatory approval for Integrated Banking Platform is being delayed and the launch of Cashaa Banking Platform (India) is being Moved to 2021…what are the issues that lead to the delay of this regulatory approval and also the postponement of cashaa Banking platform (India) to 2021?
Janina Lowisz: There are actually no issues, it is more a normal process that such things can take longer than expected. we do actually have a few milestones upcoming earlier: we so far used regulated partners that were issuing the accounts, e.g. FCA-regulated partner EMIs in the UK. We have been able to move ahead so now in October, we have new accounts coming up for GBP and EUR, new USD accounts in November, and personal accounts afterwards.
Mary | Satoshi Club: How long does it take to get a license? On average.
Janina Lowisz: This can vary, it can take a year for example, in our case, we didn’t want to wait but we as early as possible launch the business accounts. So we used partners and were already able to launch with them more than a year ago, starting with GBP accounts, then earlier this year, we added EUR accounts, and most lately, USD.
In this way, we are already helping many businesses get banked, and only need to move them to new accounts later. In this way, we already have around 2000 business signups and hundreds already using our services, be it a business account or one of the other services. In the last 11 months, we had hundreds of crypto brands using us to run their banking operations, while serving more than 250,000 individuals worldwide through 200 corporate customers.
Q3 from Telegram Username @dorukhanelfs
About partnerships, could you tell us which ones are active and what are the advantages going to be from those and Any big Partnership?
Janina Lowisz: Our partners include PaySafe Group and financial institutions regulated by the FCA, Central Bank of Lithuania and Federal Reserve these partners have trusted us to onboard our customers.
Q4 from Telegram Username @kayaharn23
Is Cashaa a service that can be useful for remittances and sending money to family members?
Janina Lowisz: Yes, it can be used for that as well. while our main focus in on business banking, we will launch personal accounts as well.
Gold Rocket | Satoshi Club: Is it already working?
Janina Lowisz: Until then, as our accounts also have a crypto wallet, you can just send crypto from individuals to individuals.
Mary | Satoshi Club: So, I will have my personal acc and how it will work?
Janina Lowisz: Our personal banking will come in the end of November. so far, we have been focused on business banking.
Q5 from BTT username saner2324
How do Cashaa AML and Compliance system analyze the transaction models in Multisig wallets? How does the system report suspicious activities?
Janina Lowisz: We are using blockchain analytics and AML tools that are using over 200 algorithms and risk analysis scenarios, and create a risk score for each transaction. E.g. allowed, flagged and not allowed. from a certain level on it is not allowed.
Mary | Satoshi Club: Did you have any attempts to cheat the system?
Janina Lowisz: Every address and every transaction is going through these checks, and there is always a risk score.
Gold Rocket | Satoshi Club: By the way, what is the total Supply CAS?
Janina Lowisz: The total supply of CAS is 1 Billion CAS.
Q6 from BTT username Nyosant
In these days of DeFi and ERC-20 frenzy, it is strange to see a project moving away from the ETH network. What were the reasons for that full swap from the ETH chain to the Binance chain?
Janina Lowisz: Last year we had moved to Binance chain due to its speed and low fees. Binance back then also had more businesses moving to it for the same reasons, and seemed overall more business-friendly, aiming to create a startup community around itself. Which was another reason, personally, I until now see businesses moving away from ETH to other chains that are more scalable, Binance chain but also others.
Gold Rocket | Satoshi Club: Understand so, that was full swap, you didn’t leave any tokens on Ethereum network?
Janina Lowisz: Anyone who still has old tokens can contact us to get the swap instructions.
PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS
The chat was open for 80 seconds; a lot of questions were posted by Satoshi Club community. Our guest chose some of them.
Q1 from Telegram User @qrath
Where did you get the inspiration for this unique project idea? And what influence will we have on the crypto industry due to the project?
Janina Lowisz: We saw the big need for crypto-friendly banking services as we ourselves started as a crypto business and knew how hard it was, and how every crypto business around us was in the same situation. traditional banks will decline your application, and existing accounts keep getting cancelled. so, we decided to focus on banking, bringing banking to crypto and other innovative industries.
Q2 from Telegram User @nokoliyq
What is the team’s orientation and development plan for 2020 in the Defi region, why do you think Defi, this immature term, has a future? What results do you expect to achieve?
Janina Lowisz: Yes, we do have plans for defi as well – as the first crypto-friendly neobank, who other than us as the right experience from all the past years, to now provide compliant defi services 😉 lack of compliance is one of the existing issues in the space, and we can fix that – make sure you join our news channels to stay up to date concerning our announcements in this area. Make sure you join our telegram news channel here: https://t.me/cashaanews and follow us on twitter @yourcashaa for all the latest, be it defi-related or other announcements.
Q3 from Telegram User @Trendingairdrop_s
What is the future roadmap for Cashaa within this year?
Janina Lowisz: In the rest of 2020, we will launch our new GBP and EUR accounts in October, USD accounts in November, and eventually personal accounts.
Q4 from Telegram User @Genoem
What will be benefit of holding cas token in future?
Janina Lowisz: The current live utility of CAS:
– Enhanced due diligence fees of 100,000 CAS for business accounts
– Discount on exchange fees through our wallet
Future, additional utility of CAS:
– Discount on all banking transactions
– Cheaper international transfers
– Discount on exchange fees of fiat and cryptocurrencies
Q5 from Telegram User
Crypto projects were closed in many countries due to improper regulation and licenses. How does your project solve these problems?
Janina Lowisz: We can help you open a new company and get a license in crypto-friendly jurisdictions in the EU and elsewhere. Most notably, FCA registration or authorization, and Estonian crypto license. https://cashaa.com/company-formation
Q6 from Telegram User @haydennitzsche
What kind of unique features does Cashaa have over its competitors on the market? How do you plan to increase the demand of $ Cashaa tokens in the future?
Janina Lowisz: Compared to traditional banks and other challenger banks, our main advantage is that we are able to bank crypto businesses. Compared to the few other crypto-friendly institutions, our advantages are that we are focused on business banking, that we provide accounts in 3 currencies so far – GBP, EUR and USD, our affordable fees, the ability to manage both crypto and fiat, and overall the amount of products and services that we provide, a one-stop-shop for all a business needs.
Q7 from Telegram User
Does Cashaa support any Staking or mining program?
Janina Lowisz: Yes, we have a staking programme of 100,000 CAS to allow personal users get access to crypto-friendly international banking.
Q8 from Telegram User @Eraybukucu
Is there Cashaa have plan to issue special cards for cashaa users, like traditional banks?
Janina Lowisz: Yes, and we also offer a card programme: our business customers can have their own branded cards to issue to their customers.
Q9 from Telegram User @Termuxnih
How Many Cashaa Offices are scattered in the World for people to Ask and Consult?
Janina Lowisz: Our headquarter is in London. We also have partners around the world that can help you get onboarded and answer your questions in-person: https://cashaa.com/business-account
Q10 from Telegram User
What is your long-term vision about the gaming industry which Cashaa working on? Are you afraid someday there will be another project with more innovative technology can replace Cashaa? Because we can see many crypto projects related with this concept recently.
Janina Lowisz: We are banking gaming businesses as well. the large majority of our signups are crypto businesses, but we have a few hundred signups from gaming and gambling as well.
…
Everyone please join our telegram news channel, our telegram community chat, and follow Cashaa, Kumar and myself in twitter. 😉
News channel: https://t.me/cashaanews
Community chat: https://t.me/CashaaLtd
Twitter: @yourcashaa, @kg_Cashaa and @blockchaingirl
PART 3, QUIZ AND INFO
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about Cashaa. A link to a Quiz form were sent into the chat. Participants had 10 minutes to answer. 300$ were distributed between winners.
Q1. Is CAS token required to open an account?
A) Yes
Q2. Which company offers one dashboard to manage BTC, ETH, USD, GBP & EUR accounts?
C) Cashaa
Q3. Businesses from which countries can open an account with Cashaa?
D) Worldwide except sanctioned countries
Q4. What industries are excluded with banking with Cashaa?
D) None of the above
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
Russian Telegram group: https://t.me/satoshi_club_ru
Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Website: https://esatoshi.club/
Twitter: https://twitter.com/esatoshiclub
Our Partners:
Cashaa Community: https://t.me/CashaaLtd