MIAMI, FLORIDA, Aug. 05, 2022 (GLOBE NEWSWIRE) — Escrypto, the global crypto payment service, has been getting licenses to operate in 3 continents and will launch later this year. With the innovative capabilities afforded by the Escrypto platform, financial regulators have approved its use in a comprehensive list of territories, including the US, Canada, EU, Israel and many more locations. The successful licensing of Escrypto on such a broad scale represents a huge step forward, not just for the Miami-based company but for crypto payment services in general. With Escrypto bringing secure, easy-to-use escrow services to the crypto space, decentralized finance has taken another significant step toward the mainstream.
Escrow in the Crypto Landscape
While cryptocurrencies may offer any number of advantages to users — increased security, privacy, and transparency to name but a few, they also come with a distinct drawback. Cryptocurrency transactions can’t be reversed.
In the event that buyer is unhappy with a product or service that have paid for, there is no method by which buyer can demand his money back. Once have paid for something with crypto — even if have paid the wrong person by mistake — that crypto is gone. In order to get money returned, buyer is entirely reliant upon the good nature of the individual or business have paid to give a refund — and if they aren’t prepared to offer one, options are severely limited….
