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Indians will be able to take out loans against cryptocurrencies for the first time in history.

An Indian bank is preparing to start providing crypto banking services at its physical bank branches. This enables customers to buy several cryptocurrencies directly from their account or by paying cash.

Indian bank United Multistate Credit Co. Operative Society (United), is trying to develop its banking services to cryptocurrencies.

United has established a joint venture dubbed UNICAS in partnership with the crypto banking service provider Cashaa, which aims to provide online crypto banking services across its 34 branches in northern India. Currently, there are 22 active branches and the companies had planned to launch crypto banking services at 34 branches.

Initially account holders will be able to buy and sell bitcoin (BTC), cashaa (CAS), ethereum (ETH), binance (BNB), bitcoin cash (BCH), EOS, litecoin (LTC) and ripple (XRP) in cash or with the account balance in Indian rupees.

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