CXO of the week: Kumar Gaurav<strong>, Founder & CEO of Cashaa</strong>

Established in October 2018, Cashaa is a revolutionary system in the banking space. The idea behind the brand is to bank the global crypto economy. The brand aims at providing a counterpart to the traditional banking system in an advanced manner on the blockchain backbone.

The crypto industry, along with other industries such as entertainment, gaming, and gambling, is underserved and often prohibited from using traditional banking services. Cashaa can now provide individuals and businesses in these industries with a hassle-free banking platform.

The objective is to create a banking system where people and businesses can transact in both fiat and crypto from the one account dashboard.

Kumar is an Indian serial entrepreneur who was awarded an extraordinary status (O1) by the United States government for excelling in his work on blockchain technology. He started his career working as an Engineer for Wipro in 2012 where he built the navigation system for Ferrari. (Stayed until the minimum contract period and went to Italy). He further, worked as an IT Manager, for Molina e Bianchi Industries (2014-2016) while pursuing his Master's in Italy in MS (Management), Politecnico Di Milano. He also co-founded Auxesis Group which pushed Blockchain innovation in partnership with governments and top Fortune companies. In 2018, Gaurav founded Cashaa to bank the crypto economy and serve underserved industries. 

Gaurav has also been a reputed speaker on the internal stage, having shared his views at Ivy League colleges in the USA, TieCON, Money 2020, the European Parliament, IIT, etc.

Recently we have engaged in an interview with Kumar Gaurav, Founder & CEO of Cashaa. He spoke about his business operations and what are the plans for future expansion and much more.

Introduction.

Gaurav Kumar is an Indian serial entrepreneur and the founder of Cashaa, a blockchain and crypto-based financial institution. He has made significant contributions to the field of blockchain technology and has been recognized for his excellence in this domain. Gaurav’s expertise and entrepreneurial skills have earned him an extraordinary status (O1) in the United States government. Gaurav began his career in 2012 as an engineer at Wipro, where he worked on building the navigation system for Ferrari. After completing his minimum contract period, he moved to Italy to pursue a Master in Management (MS) at Politecnico Di Milano. During this time, Gaurav also worked as an IT Manager for Molina e Bianchi Industries.

In addition to his work experience, Gaurav co-founded Auxesis Group, a company that played a crucial role in driving blockchain innovation in collaboration with governments and top Fortune companies. With his passion for revolutionizing the banking industry and serving underserved sectors, Gaurav founded Cashaa in 2018. His aim was to establish a banking platform that would cater to the needs of the crypto economy and provide hassle-free financial services to individuals and businesses. Gaurav Kumar has earned a reputation as a distinguished speaker, sharing his insights and perspectives at prestigious events and institutions. He has delivered talks at Ivy League colleges in the USA, TieCON, Money 2020, the European Parliament, and IIT, among others. Gaurav’s visionary leadership and contributions have played a vital role in positioning Cashaa as a pioneering institution in the blockchain and crypto-based financial sector.

Kindly brief us about the company and the services that your company offers.

Cashaa, established in October 2017, is a revolutionary system in the banking space. Our primary goal is to bank the global crypto economy by providing advanced banking services on the blockchain backbone. We aim to bridge the gap between traditional banking systems and the rapidly evolving world of cryptocurrencies. At Cashaa, we understand that the crypto industry, along with other sectors such as entertainment, gaming, and gambling, is often underserved and prohibited from accessing traditional banking services. This is where we come in. We offer individuals and businesses in these industries a hassle-free banking platform, enabling them to transact in both fiat and cryptocurrencies from a single account dashboard. Our services are designed to cater to personal banking as well as business banking needs. We provide a single international account that allows our customers to manage both fiat and crypto assets seamlessly. One can send and receive local and international payments, track their expenses over time, and benefit from globally accepted credit and debit cards. We also offer the convenience of withdrawing funds directly in local currency and provide a platform for buying and selling crypto with no hidden charges. In addition to our comprehensive banking services, we have recently expanded our offerings to include yield-focused personal wallet solutions for retail customers in over 200 countries, providing them with even greater opportunities to grow their assets securely.

How does Cashaa bridge the gap between traditional banking and cryptocurrency?

As aforementioned, Cashaa acts as a bridge between traditional banking and cryptocurrency by providing a dedicated banking platform that integrates both fiat and crypto assets. We understand the challenges faced by the crypto industry in accessing traditional banking services and the limitations imposed on them. Through Cashaa, individuals and businesses can seamlessly transact in both fiat and cryptocurrencies from a single account dashboard. This integration allows for easy conversions and transfers between different asset types, eliminating the need for multiple accounts or platforms. Cashaa offers a range of banking services typically associated with traditional banks, including depositing funds, taking credit against deposits, and withdrawing cash, all using both fiat and crypto assets. By adhering to regulatory compliance, Cashaa ensures that its services are in line with applicable laws and regulations, providing a secure and reliable banking experience. We also serve as a vital link between the crypto world and the traditional financial system by offering fiat on/off ramping solutions. This enables seamless conversion between cryptocurrencies and traditional fiat currencies, facilitating easy movement of funds between the crypto economy and traditional banking channels. By also catering to other underserved industries such as entertainment, gaming, and gambling, Cashaa extends financial services to sectors that were previously restricted, promoting inclusivity and driving the growth of the crypto in other sectors as well.

What are the main challenges you faced while building Cashaa, and how did you overcome them?

During the process of building Cashaa, we encountered several significant challenges that we needed to overcome. One of the primary challenges was regulatory compliance. Operating in the crypto industry means navigating a complex and ever-evolving regulatory landscape. To ensure the legitimacy and security of our services, we dedicated significant resources to understanding and complying with the regulations in the jurisdictions where we operate. This involved working closely with legal experts and regulators to ensure that our operations meet the required standards while maintaining transparency and accountability. Another challenge we faced was establishing banking relationships. Traditional banks often perceive the crypto industry as high-risk, which can make it difficult to establish partnerships. To overcome this, we focused on building trust and showcasing the robustness of our compliance measures. We implemented stringent internal controls, security protocols, and anti-money laundering procedures to demonstrate our commitment to the highest standards of security and regulatory compliance. By doing so, we were able to establish strong partnerships with reputable banks that recognize the value we bring in terms of crypto industry expertise and experience. Additionally, we faced technological challenges related to scalability and security. As the demand for our services grew, we needed to ensure that our infrastructure could handle the increasing volume of transactions while maintaining the utmost security standards. We invested in advanced technologies and performed rigorous testing to identify and address any vulnerabilities. This allowed us to build a robust and scalable platform that can handle the demands of the crypto industry and provide a secure environment for our customers’ assets.

Could you tell us about the key contributions you have made to the company and the industry, and how have they impacted the growth of Cashaa?

As the founder of Cashaa, I have made significant contributions to the company and the industry as a whole. One of my key contributions has been envisioning and establishing Cashaa as a dedicated banking platform for the crypto economy. By recognizing the challenges faced by the crypto industry in accessing traditional banking services, I sought to bridge this gap and provide a comprehensive solution. This vision has been instrumental in shaping Cashaa’s direction and driving our growth.

I have also played a pivotal role in forging strategic partnerships and building relationships with traditional banks and financial institutions. Overcoming the skepticism surrounding the crypto industry, I have worked tirelessly to showcase the legitimacy and potential of our services. These partnerships have been crucial in establishing Cashaa as a trusted player in the financial ecosystem and have opened doors to new opportunities and collaborations. Furthermore, I have been actively involved in advocating for the adoption of blockchain and cryptocurrencies through speaking engagements at prominent conferences and institutions. By sharing insights and experiences, I have helped raise awareness and understanding of the transformative power of blockchain technology in the financial industry. This advocacy has not only contributed to Cashaa’s growth but has also played a role in driving the broader adoption and acceptance of cryptocurrencies.

What, as per you, are the five important things that Cashaa should be looking at today?

First and foremost, regulatory compliance is of utmost importance. We are committed to staying proactive and updated with the evolving regulatory landscape in all the jurisdictions we operate, building trust with customers, partners, and regulators. Ensuring the security of our platform and customers’ assets is another top priority. By continuously enhancing our security measures and implementing robust risk management protocols, we can provide peace of mind to our customers and maintain their trust. Offering an exceptional user experience by driving innovation is crucial for our success. Actively listening to user feedback, improving platform usability, and introducing new features and services that meet evolving needs is essential. The expansion of strategic partnerships with banks, financial institutions, and other crypto-related businesses will enable us to expand service offerings, access new markets, and unlock synergistic opportunities. Lastly, customer education and support play a vital role in building long-lasting relationships and ensuring satisfaction. By prioritizing these areas, we can drive growth, maintain compliance, and solidify our position as a trusted player in the blockchain and crypto-based financial industry.

What are your views on the future of cryptocurrency, and how do you see Cashaa evolving to meet the changing needs of the market?

As the founder of Cashaa, I hold a positive outlook on the future of cryptocurrency. I believe that cryptocurrencies and blockchain technology will continue to play a transformative role in the financial industry and beyond. We are witnessing increasing mainstream adoption of cryptocurrencies, with more individuals, businesses, and even governments recognizing their potential. In terms of Cashaa’s evolution, we are committed to staying at the forefront of the changing needs of the market. As the crypto landscape evolves, we will continue to innovate and expand our services to cater to the evolving demands of our customers. We intend to enhance our platform’s features and functionality to provide an exceptional user experience, ensuring seamless integration of fiat and crypto services. Furthermore, we are closely monitoring and ready to adapt to regulatory developments, ensuring that Cashaa remains compliant in all the jurisdictions we operate in. This will help us maintain the trust of our customers and partners while enabling us to explore new markets and partnerships.

What are your future plans for Cashaa, and how do you see the company evolving over the next few years?

Our future plans for Cashaa revolve around strengthening our position as a leading blockchain and crypto-based financial institution. Over the next few years, we aim to expand globally by entering new markets and obtaining regulatory approvals. We will enhance our existing products and introduce new offerings to meet the evolving needs of our customers. Strategic partnerships and alliances with banks, financial institutions, and crypto-related businesses will play a crucial role in broadening our service offerings and accessing new markets. Technological innovation will remain a key focus as we explore emerging trends such as DeFi and tokenization. Moreover, compliance with regulations and robust security measures will continue to be central to our operations.