The cryptocurrency sector has skyrocketed into a trillion-dollar market. While the meteoric growth of the industry has attracted a new generation of retail investors, we are approaching a critical maturation point with institutional money entering the crypto ecosystem. The idea of traditional financial institutions placing Bitcoin on their balance sheet seemed unthinkable for years. However, since 2020, institutional presence in the nascent yet growing sector has become a reality.
Easy accessibility, liquidity, security, and regulatory compliance are key factors necessary for institutions to conduct large-scale crypto transactions. With this in mind, Over The Counter (OTC) platforms like Encryptus provide a licensed approach to trade crypto with fiat currencies en masse in a confidential, secure, and seamless manner.
Encryptus is an OTC desk and a one-stop shop for institutions to efficiently manage their crypto assets. If you are looking for a broker that equally prioritizes regulatory compliance, security, nominal trading fees, customer support, and simple crypto on and off-ramp solutions, you should consider Encryptus.
Encryptus Background
Encryptus is an institutional-grade crypto on and off-ramp OTC desk launched in 2020 by its founder Shantnoo Saxsena. Over the past few years, as more institutional investors have entered the crypto sector, we have seen a rise in the number of OTC establishments. Earlier, DroomDroom reported on the significance of OTC desks and the top brokerage services available today. This platform unquestionably ranks among them.
Foundational to the platform are its four pillars of expertise, simplicity, compliance, and ecosystem sharing. Apart from providing a seamless service for institutional investors to convert large quantities of fiat to crypto and vice versa without destabilizing market equilibrium, Encryptus is revolutionizing crypto off-ramp services by offering multiple withdrawal solutions.
Therefore, the service not only enables crypto adoption but also facilitates innovative and new ways to bridge the gap between traditional finance and DeFi. This has resulted in the platform being accredited at notable expo events.
We recommend reading the following article to gain a thorough understanding of DeFi: What is DeFi?
Encryptus is proud to announce that we’ve been awarded the “Best Institutional Trading Desk for Digital Assets.”🥳
We thank you all for the support and hope to serve our clients safely as we’ve done till now. 🙌🏻@Shantnoo6 pic.twitter.com/aIsbhTap0a
— Encryptus (@EncryptusGlobal) October 7, 2022Strong Stance on Compliance
The discourse on crypto regulation continues to take shape. Countries like the United States have expressed a stringent regulatory crackdown on the industry in recent weeks. However, with other regions like the European Union announcing its seminal markets in crypto assets (MiCA) framework and the UAE introducing clear regulatory mandates, crypto service providers can now adhere to these licensing rules.
Encryptus places regulatory compliance on a pedestal in its mission to foster crypto adoption. With this in mind, the company acquired its license for “Proprietary Trading in Crypto Commodities” from DMCC (Dubai Multi Commodities Center) in August 2021. Subsequently, in August 2022, the platform received a license from Lithuanian authorities to operate as a cryptocurrency exchange and wallet operator in the region.
We are excited 🚀to announce that #Encryptus has been granted a '#Cryptocurrency Exchange Operator And Cryptocurrency Wallet Operator' License in a #European member country. Other than tech, Encryptus is building a solid infrastructure with #compliances and #licenses globally. pic.twitter.com/RVmMzfOBDY
— Encryptus (@EncryptusGlobal) August 25, 2022When registering as an individual or as a business, the platform makes KYC/KYB guidelines mandatory for all users. This is to ensure the authenticity of users on the platform, to abide by strict regulations regarding clients or countries under sanction, and to help maintain a secure environment for all users.
At Encryptus, we understand that regulatory compliance is crucial for the success and safety of the crypto industry. Join @EncryptusGlobal today and enjoy a seamless, secure, and compliant crypto trading experience!#Encryptus #LicensedAndCompliant #KYCCompliance #SecureTrading pic.twitter.com/6fn7VZWG86
— Encryptus (@EncryptusGlobal) April 12, 2023Seamless Crypto On and Off Ramps
The entire process of registration, setting up an account, and trading cryptocurrencies on the platform is extremely straightforward. After providing the necessary KYC documentation, it takes five minutes to complete the registration process as an individual, while institutions are onboarded within hours.
Encryptus recognizes the importance of streamlining processes and improving user experience in the crypto space. With the rise in institutional interest and to address these demands, Encryptus’s OTC desk makes the acquisition of crypto with fiat effortless at a single executed price. The platform enables users to buy blue-chip crypto assets like Bitcoin, Ethereum, Polygon, and USDC with fiat such as USD, EUR, GBP, INR, HKD, or SGD through bank wires.
Furthermore, with a minimum trade amount of $10,000 with a transparent fee of just 1%, Encryptus makes crypto accessible to a broad range of users.
When it comes to the methods by which individuals or institutions can convert their crypto assets into fiat currency, its payout network called QuickRemit is a standout feature amongst its competitors. This is because, unlike other OTC platforms that focus on on-ramping, Encryptus offers a range of off-ramp avenues for its users.
Empower your crypto with @EncryptusGlobal Payout Network. Whether you need to transfer funds to your bank, top up your phone, or buy gift cards, our secure and compliant platform has got you covered.
Join the future of payments today only with #Encryptus!#largestpayouts pic.twitter.com/uYm6DP3eNk
— Encryptus (@EncryptusGlobal) June 2, 2023Apart from the basic cash out options into a users bank account, QuickRemit can be integrated on crypto exchanges, wallet providers, web3, GameFi, DeFi and many others via API’s. With QuickRemit, crypto companies can offer their users payouts in the form of bank wires, mobile wallets, gift cards and mobile top-ups.
The payout network has an extensive coverage in bank wires in 79 countries and 41 currencies, 39 countries for mobile wallets 115+ countries for mobile top-ups and gift cards. Furthermore, gift cards are available for more than 7000 brands including Apple, Amazon, Uber, Carrefour, Zalora, Reliance Digital, Grab, and Payoo.
We found that, just as it is easy to on-ramp from fiat to crypto, the platform makes it very simple for its users to off-ramp back into fiat. The trading desk allows users to convert their crypto assets into supported fiat currencies such as USD, EUR, GBP, HKD, SGD, and INR directly into their registered bank accounts.
Robust Security and Customer Support
The growth of the cryptocurrency sector has undoubtedly created generational wealth for early investors. However, due to its nascency and the learning curve attached to entering crypto, malicious actors have used the ecosystem as a vector to carry out numerous scams and hacks.
Therefore, crypto service providers like Encryptus recognize the need to adopt robust security measures to protect investors’ assets. In addition to the strict KYC and AML checks, the platform provides safeguards through Multi-Factor Authentication (MFA) as well as wallet and bank account whitelisting.
Another key pro with this platform is its 1-on-1 service. This means that users have a personalized experience and support from an experienced team.
Takeaway
Security, compliance, transparency, and simplicity are hallmarks of a reliable OTC platform. After having used Encryptus’s trading desk, the platform certainly addresses these points.
Crypto’s adoption curve is at an inflection point. It is not farfetched to believe that more institutions will enter the space amidst further regulatory clarity. Against this backdrop, Encryptus is well positioned as one of the top OTC providers, fostering seamless fiat-to-crypto integration whilst revolutionizing crypto off-ramping solutions.
