Home Altcoins NewsCrypto Events Encryptus Expands Fiat Support for Cryptocurrencies, Making Buying and Selling Easier in Europe

Encryptus Expands Fiat Support for Cryptocurrencies, Making Buying and Selling Easier in Europe

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In an exciting move that aims to streamline the process of buying and selling cryptocurrencies, Encryptus, a prominent cryptocurrency service provider, has announced the expansion of its fiat support for major digital assets in the European Union (EU) zone. This development marks a significant step towards simplifying cryptocurrency transactions for users across Europe, granting them seamless access to popular cryptocurrencies such as Bitcoin (BTC), USDT, USDC, and GBPT against EUR and GBP, in addition to US Dollars (USD).

The expansion of Encryptus’ capabilities empowers the company to offer a wider range of crypto-asset off-ramp and on-ramp services to institutions, including institutional investors, venture capitalists, asset management companies, and high-net-worth individuals, across most European countries. By bridging the gap between traditional fiat currencies and cryptocurrencies, Encryptus aims to foster the adoption of digital assets among institutions while upholding compliance and transparency.

With VASP authorization obtained in July 2022, followed by registration in the Lithuanian Crypto Operators register in February 2023, Encryptus has solidified its position as a trusted “Cryptocurrency Exchange Operator” and “Cryptocurrency Wallet Operator” in Lithuania, an EU member country. This authorization ensures that the company adheres to stringent regulatory standards, providing users with a secure and reliable platform to engage in cryptocurrency transactions.

To enhance user experience and maintain compliance, Encryptus has integrated its ecosystem with TRM Labs, a leading provider of wallet and coin monitoring services, as well as Know Your Customer (KYC) and Know Your Business (KYB) onboarding processes. Additionally, the company offers self-custody solutions through FireBlocks, allowing users to exercise control over their own wallets when buying crypto assets against fiat. A unique feature offered by Encryptus is the whitelisting service, which provides users with an added layer of security by verifying wallet addresses prior to making purchases.

In line with its commitment to providing clean and verified cryptocurrencies, Encryptus ensures that only major crypto assets are supported on its platform. Token-to-token trading, however, is currently not available.

In addition to catering to individual users, Encryptus offers its services to partners through ready-to-use APIs, allowing them to leverage the company’s liquidity and technology. This enables businesses and traditional companies to launch their own over-the-counter (OTC) desks, provided they fulfill the necessary KYB and Enhanced Due Diligence (EDD) requirements. By fostering local banking relationships and nurturing local talent, Encryptus actively contributes to the growth of the cryptocurrency ecosystem.

Shantnoo Saxsena, the founder of Encryptus, emphasizes the company’s vision to facilitate the adoption of cryptocurrencies among institutions while upholding compliance and transparency. The core pillars of Encryptus are built upon compliance, technology, and sharing infrastructures, ensuring a robust and trustworthy platform for users who seek access to clean coins and verified funds.

Looking ahead, Encryptus aims to consolidate its position in the banking sector, particularly in comparison to other jurisdictions competing for cryptocurrency-related business. The favorable cryptocurrency regulations within the EU enable the company to support initiatives that contribute to the growth and development of the crypto ecosystem in Europe.

It is important to note that Encryptus does not provide services to sanctioned countries and clients. Additionally, its services are unavailable to residents and citizens of the United States, Canada, and Japan. To ensure regulatory compliance, users are required to submit government-approved identification and address proof before utilizing the platform’s bank payout services. Partners gain access to Encryptus’ APIs after completing the necessary Know Your Business (KYB) process.

About Encryptus: Initially founded as an advisory company in 2021, Encryptus has emerged as a key player in revolutionizing cryptocurrency payouts and pay-ins for businesses, high-net-worth individuals (HNWIs), and institutional investors. The company’s trading desk offers a secure and efficient solution that enables seamless receipt of cryptocurrencies and the option to convert them into local currency, reducing transaction fees and eliminating intermediaries.

Moreover, Encryptus provides reliable off-ramp services, enabling users to convert their cryptocurrencies into fiat currency while adhering to regulatory requirements. This creates a safe and trustworthy environment for transacting securely with digital assets.

Furthermore, Encryptus offers advanced APIs that streamline payout processes, empowering exchanges and businesses to automate payments and optimize their operations. The platform ensures secure transactions for purchasing gift cards, mobile top-ups, and making payments to employees, partners, and suppliers.

By expanding its fiat support for cryptocurrencies, Encryptus strengthens its commitment to providing user-friendly and compliant services that drive the wider adoption of digital assets in Europe.

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Pankaj K

Pankaj is a skilled engineer with a passion for cryptocurrencies and blockchain technology. With over five years of experience in digital marketing, Pankaj is also an avid investor and trader in the crypto sphere. As a devoted fan of the Klever ecosystem, he strongly advocates for its innovative solutions and user-friendly wallet, while continuing to appreciate the Cardano project. Like my work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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