EMURGO Middle East & Africa, the investment and commercial branch of the global blockchain network Cardano in the Middle East and Africa, revealed its strategic collaboration with Encryptus, a premier provider of Crypto <> Fiat infrastructure. This alliance is pivotal in offering streamlined services for both entering and exiting the Cardano ecosystem, thereby enhancing ADA adoption in emerging markets.
EMURGO Middle East & Africa harnesses Cardano’s innovative, secure, and sustainable features to spearhead digital transformation through impactful blockchain applications. Through its partnership with Encryptus, recognized for its trailblazing solutions in crypto-to-fiat and fiat-to-crypto transactions, EMURGO Middle East & Africa demonstrates its dedication to enriching the Cardano ecosystem and the wider blockchain domain. This collaboration enables Encryptus to launch a new product lineup tailored for Cardano users, including advanced, compliant payout mechanisms such as bank wire transfers in over 80 countries, mobile wallet offerings in more than 40 countries, and a variety of gift cards and mobile plans available in over 110 countries.
“Our joint venture with Encryptus reflects our commitment to not only enhancing the Cardano ecosystem but also pushing the envelope in blockchain innovation. Incorporating Encryptus’ foremost crypto-to-fiat transaction solutions, we’re gearing up to open new avenues for ADA users and continue our leadership in developing blockchain-supported ecosystems,” stated Yosuke Yoshida, Co-CEO of EMURGO Middle East & Africa.
Shantnoo Saxsena, CEO & Founder of Encryptus, emphasized the importance of the partnership, noting, “The real adoption of blockchain technology goes beyond mere access to digital currencies. It requires solid off-ramping features that allow users to seamlessly transition ADA to fiat currencies and various payment options. This partnership is especially transformative in emerging markets, forging the crucial connection for wider cryptocurrency adoption and boosting ADA’s utility across numerous sectors.”
“Encryptus stands out due to its unique banking infrastructure, mirroring traditional financial services in the cryptocurrency realm. This capability positions them as the ideal partner for adding further value beyond their current services. We at EMURGO Middle East & Africa are thrilled about the potential of our collaboration, aimed at enhancing ADA and Cardano chain accessibility, supported by the recent inception of EMURGO Labs,” expressed Ahmed M. Amer, CEO of EMURGO Labs.
Within this partnership, Encryptus will utilize its comprehensive off-ramp infrastructure and expertise in regulatory compliance to enable efficient ADA-to-fiat conversions. Concurrently, EMURGO Middle East & Africa will focus on developing smart contracts and additional user interface components for the smooth integration of Cardano into Encryptus’ platforms, ensuring a hassle-free experience for users converting ADA across diverse payment systems.
This strategic alliance is set to significantly boost ADA’s utility, making it more accessible and usable worldwide. By establishing efficient, secure, and compliant routes for crypto-to-fiat transactions, EMURGO Middle East & Africa and Encryptus are leading the charge towards greater adoption of the Cardano blockchain, contributing to the expansion and evolution of the digital economy in the Middle East, Africa, and beyond.
