Encryptus is thrilled to unveil the expansion of its fiat support for major crypto assets in the EU zone. This significant development aims to simplify the process of buying and selling cryptocurrencies for European users, granting users a seamless access to Bitcoin (BTC), USDT, USDC and GBPT against EUR and GBP in addition to US Dollars.
This significant development expands Encryptus’ capabilities and enables the provision of a wider range of crypto-asset off-ramp and on-ramp services to institutions, including institutional investors, sovereign wealth funds, venture capitalists, asset management companies, fund managers, and high-net-worth individuals in most European countries.
Encryptus was granted the VASP authorisation in July 2022 and was additionally added to the Lithuanian Crypto Operators register in Feb 2023. The firm is authorized to operate as a “Cryptocurrency Exchange Operator” and “Cryptocurrency Wallet Operator” in Lithuania; an European Union member country. Encryptus envisions an exciting future where users across Europe can effortlessly engage in converting major crypto assets to and from fiat, while also benefiting from the introduction of additional stable coins like GBPT to further enhance the offering. Token to token trading is not supported and only major crypto assets are supported.
Buying and Selling Now Easier for European Users
Encryptus offers a full proof eco-system that is well integrated with TRM Labs for Wallet and Coin Monitoring, KYC (Know Your Customer) and KYB (Know Your Business) onboarding online and self-custody with FireBlocks.
The user experience is seamless because both Institutions and HNWIs can be fully onboarded by using a fully automated onboarding solution. In addition the ecosystem offers only clean cryptocurrencies when buying and selling. The users must bring their own wallets when buying crypto assets against fiat. Prior to buying, whitelisting as a service is offered on the platform. This is a unique service and not really available on any major platforms.
The Encryptus services are also available to partners that allows them to consume the liquidity and technology via ready APIs. Businesses and Traditional companies can also launch their own OTC desk by fulfilling all the necessary KYB, Enhanced Due Diligence (EDD)
As part of this cooperative effort, Encryptus has been actively developing local banking relationships and fostering local talent.
According to Shantnoo Saxsena, the founder of Encryptus,
Looking ahead, Encryptus also aims to bolster its competitive advantage in the banking sector, particularly in comparison to other jurisdictions vying for cryptocurrency-related business. The favorable cryptocurrency regulation in our region enables us to explore and support initiatives that contribute to the growth of the crypto ecosystem in Europe.
Overall, it is important to note that Encryptus does not provide services to sanctioned countries and clients. In addition the services are not available to residents and citizens of the US, Canada and Japan. The users must submit their government approved ID and an address proof before using our bank payout services. The partners get access to our APIs only after finishing their KYB (Know Your Business) with Encryptus.
About Encryptus
Started as an advisory company in 2021, Encryptus has grown into becoming one of the major players in revolutionizing cryptocurrency payouts and pay-ins for businesses, HNWIs or institutional investors with big orders than doing so on open markets. The trading desk enables this by providing a secure and efficient solution that enhances seamless receipt of cryptocurrency and offers the option to convert it into local currency, eliminating intermediaries and reducing transaction fees.
Additionally, Encryptus offers reliable off-ramp services, allowing users to convert cryptocurrency into local currency with full compliance to regulations. This provides a safe environment where users can transact confidently and securely.
Lastly, Encryptus provides advanced APIs for streamlined payout processes, allowing exchanges and businesses to automate payouts and optimize operations. The platform ensures secure transactions for purchasing gift cards, mobile top-ups, and payments to employees, partners, and suppliers.
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