VILNIUS, LITHUANIA / ACCESSWIRE / February 19, 2023 / Encryptus, a licensed and compliant crypto-fiat trading platform, is thrilled to announce its soft entry into the African Continent, starting with Kenya.
Encryptus will mark their exploratory journey in the upcoming Africa Tech Summit in Nairobi, Kenya. As a trailblazer in the crypto industry, Encryptus is dedicated to providing crypto and non-crypto companies its infrastructures for Crypto < > Fiat; including Compliances, Coin Monitoring, Fiat and Crypto Liquidity via API to enable institutions to plug into their ecosystem. The fiat services would only be available via Bank wires to KYCed users only.
Encryptus is licensed as a VASP (Virtual Assets Service Provider) in Lithuania and Licensed as a “Proprietary Trading in Crypto Commodities” trading desk in Dubai, UAE.
Africa Pushing Through to the Global Scale
Africa has been a rapidly growing market for international companies and is attracting many global corporations to the continent, such as Amazon, Google, and Uber. In the crypto ecosystem, Cardano’s founding partners EMURGO and IOG have built a considerable presence in Africa along with CELO Foundation and LBank Exchange.
With the rise of digital assets and cryptocurrencies, regulations for digital assets are becoming increasingly important in Africa. In recent years, there has been a growing demand for cryptocurrencies and digital assets in Africa, leading to a need for regulations to ensure the security and stability of these investments.
The African startup scene has also seen significant rise, with a record $5.4 billion raised in 2022, according to a report by Briter Bridges. Startups in Nigeria, Kenya, South Africa, and Egypt accounted for 75% of all funding in 2022. This highlights the growing potential of the African startup scene and the increasing number of investors who are taking an interest in this market.
Crypto adoption in Africa has also been expanding in recent years. According to Chainalysis, Africa has the fastest-growing crypto market in the world.
Encryptus is well integrated with Industry leaders for self custody, coin monitoring and KYC providers for compliant onboarding. The Institutions can make use to the infrastructure by simply plugging into the Encryptus APIs. Encryptus services are also available on their platform for HNWIs and Institutions who simply want to use their services.
Encryptus will mark their soft launch at one of the largest African Tech event; “Africa Summit in Nairobi”
Encryptus’s Founder & CEO, Shantnoo Saxsena will also be sharing the stage with some industry leaders from Polygon, CELO Foundation and Nestcoin. When asked for comments for why Encryptus chose Africa, Shantnoo replied ” I started my crypto journey with a Kenyan startup in 2016. The Kenyan ecosystem is getting exciting and we have the right infrastructure ranging from Compliance to Fiat and Crypto Liquidity to empower other potential partners to build on top of our ecosystem. Encryptus is in the exploratory stage, but we are committed to bring innovative Crypto < > Fiat on-ramps and off-ramps solutions to the Kenyan ecosystem. The fiat and cryptos must coexist and we will work with the regulators and the banks to build the infrastructure together”
Please free to contact Abhi@encryptus.io for any queries.