Our GBO experts will help you all through in setting up a bank account for your crypto business that integrates cryptocurrencies and traditional bank operations seamlessly. We assure you a hassle-free crypto banking account experience for the IEO, STO, ICO, exchanges, brokers, and wallets. We cut cryptocurrency complexity for you for a safe, secure and smooth transition to a digital economy. GBO will enable international transfers with cryptocurrency, accept crypto payments without a gateway, and empower the buying, selling and tracking of cryptocurrency for your business.
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Most of the traditional banking institutions will diligently inform you that they cannot open your cryptocurrency business bank account due to internal policies. Even if your crypto business bank account is opened, you may be informed at some point of time that your bank account for crypto business is frozen, and you have only a limited time to withdraw your money.
This is because as crypto and virtual currencies are considered high risk, the banks have to do Enhanced Due Diligence (EDD). All documents related to the source of funds for the company or its Ultimate Beneficial Owners (UBOs) need to be collected and renewed, and most of the traditional banking and financial institutions either lack the expertise in this area, or do not have the capabilities and personnel to perform EDD.
On the other hand, GBO has all the know-how, expertise, and capabilities to help you open your bank account for crypto business. With their crypto business account, our members can pay and receive payments across multiple currencies, stablecoins, digital assets, and cryptocurrencies.
Skype – GBO International Financial Services| What does opening a cryptocurrency business bank account look like?
If your business is ready to get started with setting up an IBAN (International Bank Account Number) account, then getting started with the bank account for crypto business would be easier. You will sign up at https://www.gbofintech.com/, provide the required information, identity proof, and details of the legal representative of your business. Information gathering is where most of the time is spent. You can ask our team opening your cryptocurrency business bank account if there is anything confusing, and our onboarding team will be happy to explain the things to you in more detail.
What if we have an insufficient level of compliance?
We require our clients looking to open cryptocurrency business bank account to have a certain level of compliance. You need to have a comprehensive AML policy, software for transaction and blockchain monitoring, and a professional compliance officer.
Being vague in responses to compliance questions
The more details you share about your business and its operations, it would mean that there would be less going back and forth. Vague compliance responses would expose gaps for opening a crypto business bank account even if the license has been acquired.
Crypto business is regulated to some extent by CFTC, IRS, OCC, FinCEN in the USA and most of the EU countries due to AML 5th Directive, which means that it will eventually be regulated by all countries.
GBO’s experts comfortably work with companies dealing with crypto business, and are labeled as high-risk. Opening a bank account for a crypto business is not a 5-minute task, it is quite realistic to wait for a couple of days to open a cryptocurrency account for business even if all the documents are submitted as it takes a little longer to notarize, apostil, or translate the documents. Our ongoing collaboration with the clients will ensure that any suspicious behavior is appropriately addressed. GBO team would be happy to answer and assist you all through with the opening of your crypto business bank account. It’s important to have open communication and starting off on a strong foundation as we aim to be your trusted crypto business partner.
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