Interview with Kumar Gaurav: Crypto Expert, Founder & CEO of Cashaa

Kumar Gaurav

An exclusive interview with Kumar Gaurav: Crypto Expert, Founder & CEO of Cashaa

Kumar Gaurav 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 Masters’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 2016, Gaurav founded Cashaa with the aim 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.

Can you tell us about your journey and what inspired you to establish Cashaa in the rapidly evolving world of cryptocurrency and blockchain technology?

Kumar Gaurav: Cashaa was launched in June 2016 with a singular vision — to revolutionize the adoption of blockchain-based financial products. We embarked on our journey as a peer-to-peer cash transfer system, utilizing the power of Bitcoin infrastructure.

However, it didn’t take long for us to realize the inherent challenges faced by crypto businesses, 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 crypto-business banking, empowering hundreds of crypto-native enterprises to deliver robust and innovative products to their users.

Cashaa’s mission is to provide financial services to the unbanked and underbanked population. How does your platform address the financial inclusion challenges faced by these individuals?

Kumar Gaurav: After becoming a go-to for the blockchain and crypto-based industry in the last 7 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 being inextricably linked to our social mission of bringing about mass adoption of crypto through the Cashaa wallet and exchange in the retail segment. Cashaa sees its true calling in bringing the benefits of blockchain technology to the masses.

We want to make it very easy to invest for high yields, 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 in the form of access to fiat on/off-ramping to blockchain and crypto-based companies for over 7 years now, which has also driven broader adoption of the technology to the masses through the various solutions and innovations done by these companies.

Cashaa drives financial inclusion of the underbanked segment 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 to our global retail market of everyday users.

As the cryptocurrency landscape continues to evolve, what unique value does Cashaa bring to the market and how do you differentiate your platform from other blockchain-based fintech solutions?

Kumar Gaurav: As a financial institution our biggest USP is Safety, Security, and best yield on crypto. Cashaa has been one of the long standing brands in the industry that started. Our longevity and constant commitment to the crypto industry helped us to push boundaries to build products which helped the crypto industry to thrive.

In our 7 years of operations our systems have never been compromised and making sure companies trusting us with their Billions of dollars are safe and accessible to them whenever they need it. We are now taking our  years of history, trust  and secure infrastructure and making it also available for retail crypto users to buy, store and earn inflation-proof and industry-high yields.

Combined with the tight European regulation and have a market-agnostic and sustainable yield model. Unlike many companies in crypto we were never based in any offshore jurisdictions to avoid regulation.

Our model has sustained through multiple bear cycles proves this. Secure as we prioritise security and regulatory compliance in all the jurisdictions we offer our products and services in. Easy-to-use as we as our customers do not have to bother with encryption, multi-sig and other security enhancing features or storing and entering their private keys for each and every transaction.

We have built a user interface for the common man with little to none experience in crypto. All of this at low cost and fast and instantaneous transactions.

Regulations and compliance have been key concerns in the cryptocurrency industry. How does Cashaa navigate these challenges to ensure a secure and compliant experience for your users?

Kumar Gaurav: Providing robust and reliable financial services to our customers and partners which can stand the test of time and pass regulatory muster at all times, has been the no. 1 priority at Cashaa from the get-go. We do this by vetting, intensively testing and getting approved by compliance, 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.

The concept of decentralized finance (DeFi) has gained significant attention. How does Cashaa contribute to the growth and advancement of DeFi, and what opportunities do you see for further innovation in this space?

Kumar Gaurav: As Cashaa’s vision is to empower everyone to take control of their finances and provide the benefit of DeFi, we recently released a beta wallet powered by the CAS token for personal users. It safely and securely stores crypto as well as  provides best yields on crypto and stable coins providing inflation-proof income and financial independence to all of its users.

Cashaa has a global presence. How do you adapt your services to cater to the diverse financial needs and preferences of users from different regions around the world?

Kumar Gaurav: Global crypto banking presents both opportunities and considerations for users and financial institutions. For users, the decentralized nature of cryptocurrencies offers the potential for greater financial autonomy and opportunities for investment.

While security is a concern, users can mitigate risks by adopting best practices, such as utilizing secure wallets and staying informed about potential threats. While this can be intimidating for new crypto adopters, firms like Cashaa take care of all of the security measures for new investors giving them a chance to grow with crypto without having to worry about the security and safety of their investments. While regulatory compliance can be a challenge, it also provides a framework for legitimacy and consumer protection.

With proper risk management strategies and a proactive approach to security, financial institutions can build trust and confidence in the crypto banking sector.

By staying abreast of market trends and technological advancements, they can position themselves at the forefront of this emerging industry, fostering growth and contributing to the mainstream adoption of cryptocurrencies across the globe.

What are your thoughts on the future of cryptocurrency, blockchain, and fintech industries, and how does Cashaa plan to stay at the forefront of these developments?

Kumar Gaurav: The fall of multiple big players who came lately but left the market by the end of the bull cycle in 2022 had left the retail user in dry. We are now taking our years of stability, trust  and secure infrastructure which helped hundreds of crypto businesses in last seven years to make it also available for retail crypto users.

Our secure and regulated wallet will help retail users to buy, store and earn inflation-proof and industry-high yields. We are leveraging our network of hundreds of our existing business customers including household names in building the platform as well as reaching the maximum number of early crypto adopters and investors.

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.

Security breaches and hacks have been major issues in the cryptocurrency industry. How does Cashaa prioritize security and safeguard user assets on your platform?

Kumar Gaurav: Privacy and security concerns are important considerations in global crypto banking. While cryptocurrencies offer pseudonymity, the public nature of blockchain transactions raises concerns about privacy. Users’ transaction history and wallet addresses can be traced, potentially compromising their anonymity.

However, industry players are actively working on enhancing privacy features, such as implementing privacy-focused cryptocurrencies or protocols like zero-knowledge proofs and advanced encryption techniques, to protect user data.

Security is another crucial aspect. The decentralized nature of cryptocurrencies exposes users to risks, including hacking, phishing attacks, and malware. To address this, the industry emphasizes educating users about best practices for securing their wallets and employing two-factor authentication.

Moreover, advancements in blockchain technology are enhancing security measures, such as multi-signature wallets and decentralized exchanges with enhanced security protocols.

Cashaa uses a combination of multi-sig wallets, 2FA authentication, segregation of customer funds and others to ensure both safety and compliance to the latest security standards to safeguard customer funds.

What is your success tips for young and aspiring entrepreneurs

Kumar Gaurav: Focus on value and building a sustainable business rather than on securing funding and inorganic growth. Most of your time in the market will be spent on surviving bear cycles and stiff competition. Just throwing money (VC funding) at the problems is not a long term solution.

Building a great product should be at the heart of your whole enterprise. At Cashaa, we did not spend much on marketing for years, not until we had developed a product we were confident to go to market with.

If you have the right product and market fit, time is the only thing you will need till to see success. And spend on building a good team. You cannot go it alone. No one can.

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