Key Data

• Trading Name: NoBanx
• Legal Entity: LetKnow OÜ
• Activities: Crypto payments platform
• Location: Estonia
• Regulations: Crypto license
• Key People: Andrew Anastasiou (Linkedin)

NoBanx is a crypto payments platform founded by Andrew Anastasiou (Linkedin), who also co-founded BrightCart (PR42 profile) and LegionPay (PR42 profile). The services are offered via LetKnow OÜ, which holds an Estonian crypto license. However, the operation is based in Cyprus.

Their integrated API gateway acts as a channel between merchants and the world of cryptocurrencies.

As a Software as a Service provider, NoBanx offers online and e-commerce businesses the opportunity to sell their products online using cryptocurrency. Their service includes:

• Instant Payments
• No Chargebacks
• Auto-Exchange Functions
• Bank Payouts

NoBanx charges 1% per exchange between cryptocurrencies or exchange from crypto to FIAT. Deposits and withdrawals are charged with a 1% transaction fee.

NoBanx serves merchants from high-risk industries and low to medium risk.

In principle, there are no irregularities around the company. However, their legal entity raises some questions, because LetKnow OU belongs to the Estonian company LetKnow, which has no direct connection to NoBanx.

Conclusion

Due to the current tense crypto industry, we downgrade all crypto companies to ORANGE for an undetermined period of time.