Encryptus is excited to announce the growth of its fiat support for significant cryptoassets in the EU region. With this important breakthrough, users will have seamless access to Bitcoin (BTC), USDT, USDC, and GBPT against EUR and GBP in addition to US Dollars. This will make buying and selling cryptocurrencies for European consumers more straightforward.
Encryptus can now provide 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 the majority of European nations.
Encryptus received the VASP authorization in July 2022 and was subsequently included in the registry of Lithuanian Crypto Operators in February 2023. In Lithuania, a member state of the European Union, the company is permitted to conduct business as a “Cryptocurrency Exchange Operator” and “Cryptocurrency Wallet Operator.” Encryptus sees an exciting future where consumers in Europe can easily convert popular cryptocurrencies to and from fiat while also profiting from the arrival of new stable coins like GBPT to strengthen the offering. Only the most popular cryptoassets are supported; token-to-token trading is not supported.
European Users Can Now Buy and Sell With Greater ease.
With TRM Labs for wallet and coin monitoring, KYC (Know Your Customer) and KYB (Know Your Business) online onboarding, and self-custody with FireBlocks, Encryptus provides a full-proof eco-system that is well integrated.
Because a completely automated onboarding system can fully onboard Institutions and HNWIs, the user experience is seamless. Additionally, when purchasing and selling, the ecosystem only provides pure crypto currencies. When purchasing crypto assets using fiat currency, consumers need to bring their own wallets. On the platform, whitelisting is available as a service prior to purchase. This is a special service that isn’t truly offered on any significant platforms.
Partners can use the Encryptus services to access the technology and liquidity through prepared APIs. By completing all applicable KYB and Enhanced Due Diligence (EDD) requirements, businesses and traditional firms can also start their own OTC desk.
Encryptus has been actively cultivating local banking partnerships and supporting local talent as part of this collaborative effort.
The founder of Encryptus, Shantnoo Saxsena, claims that the company’s goal is to help institutions adopt cryptocurrency while upholding compliance and transparency. Users who want access to clean coins and verified cash should use Encryptus. The three main building blocks on which the company is based are compliance, technology, and sharing infrastructure.
In the future, Encryptus also wants to strengthen its advantage over rival jurisdictions competing for cryptocurrency-related business in the banking industry. We are able to investigate and promote activities that support the expansion of the bitcoin ecosystem in Europe because of the favorable cryptocurrency regulation in our region.
It’s crucial to remember that Encryptus does not offer services to clients or nations that have been sanctioned. Additionally, residents and citizens of the US, Canada, and Japan are not eligible for the services. Before using our bank payout services, users must submit proof of ID and an address that has been approved by the government. Only after completing their KYB (Know Your Business) with Encryptus do the partners gain access to our APIs.