Leading cryptocurrency infrastructure provider, Encryptus, unveiled its groundbreaking payout product during an Consensus event in Austin,Texas. This innovative solution enables crypto exchanges, wallet providers, Web3, gaming, and other B2C crypto companies to seamlessly off-ramp to Bank Wires, Mobile Wallets, Mobile Top-ups, and Gift Cards through its robust API integration.
With extensive coverage spanning 79 countries for Bank Wires in 41 currencies, 39 countries for Mobile Wallets, and 115+ countries for mobile top-ups and gift cards, Encryptus's payout network sets a new industry standard. Users gain access to over 7,500 different types of gift cards and prepaid airtime from 307 global mobile operators. Notable Mobile Wallets, such as AliPay, GoCash, and M-Pesa, are among the available options.
In adherence to regulatory compliance, Encryptus strictly prohibits off-ramps to sanctioned countries and clients. Additionally, residents and citizens of the US, Canada, and Japan cannot access the services due to regulatory restrictions. The payout product is particularly beneficial for users seeking to convert their crypto holdings to fiat (national currencies) for bank account transfers or to purchase gift cards or mobile plans in over 100 countries. Combined, the payout options are available in 98 currencies. While currently accessible through APIs, Encryptus plans to introduce a widget in the near future.
To ensure regulatory compliance, Encryptus has implemented a fully automated payout system. This includes advanced compliance monitoring tools integrated into its APIs, allowing for the identification of Politically Exposed Persons (PEP), sanctioned users, and suspicious transactions involving tainted coins.
"We are thrilled to launch our payout product, QuickRemit. Not only does our payout network stand as the largest in the industry, but it also offers the most diverse range of payment options," stated Shantnoo Saxsena, CEO of Encryptus. "Our API provides payout-as-a-service while prioritizing compliance as a core offering. Our vision is to expand our payout coverage further and reduce the costs associated with payouts for our users."
Shantnoo further emphasized that true crypto adoption requires more than just reliable pay-in networks—it necessitates the availability of multiple payout avenues. Exchanges and crypto companies must focus not only on attracting users to their platforms but also on providing sufficient freedom for users to cash out their holdings.
Encryptus has introduced a competitive flat fee of 1.5% for global bank wires and has reserved a revenue share for its partners from this fee. Accepted cryptocurrencies for payouts are limited to USDT and USDC.
As part of their upcoming upgrade, the company is dedicated to streamlining global mobile wallet payouts and business payments, ensuring a more user-friendly experience.
Overall, the introduction of Encryptus's new payout product represents a significant milestone in the development of blockchain-based payment solutions. In an era that demands secure, automated, and cost-effective off-ramps for cryptocurrencies, Encryptus plays a vital role in expanding the adoption of digital assets and fostering innovation within the fintech industry.
About Encryptus:
Encryptus is a prominent cryptocurrency solutions provider dedicated to revolutionizing the way digital assets are utilized and accessed. Through its cutting-edge technologies and innovative products, Encryptus aims to empower businesses and individuals by offering secure and efficient cryptocurrency solutions.
Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. This is not investment advice. Please do your own research.
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Website: https://encryptus.io/
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Company : Encryptus
Location : Lithuania, Europe
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