Yes going with a crypto company is just a loss of time and money and here is why:
- The mentioned banks are all Private Banks except
Swissquote - this means they want you to use there services of Crypto Custody with min. 1m$ - the Brokerage with this banks is something between 0.5-1.9% as well as a Custody Fee from 0.5% to 1.25% and some have even % transfer fees for sending and receiving Crypto
-> they wouldn't earn anything from you if you just keep using Kraken and use them like a normal retail current account - so you use banks like Sygnum, SEBA and Maerki Baumann only if you want to replace Kraken or other Exchanges with a fully regulated Bank for your Crypto Trading and Custody and for this they charge you a good % - in everything else they are not interested
- Swissquote doesn't provide Crypto Services for Instituional which means you need to trade under a Personal Account Crypto with them - Institutional Account requires 1m$ in Assets with them as well
You have actually only Private Banks like aboth that onboards you with a Passive Holding Company if you use there in-house Pricey Crypto Service or Fiat On-/Off-Ramp banks that works with fully licensed Crypto Companies like Exchanges and OTC Desks with in-house Compliance Team - namely this banks are
Bank Frick, Signature Bank, Silvergate Bank, Incore Bank, ClearJunction and some smaller Banks like Fidor.
I have seen no classic retail Bank faciliating what you are looking for with a
Dubai Company - as they either don't focus on being used for Crypto Cashout or they are a Private Bank that force you to use there in-house service to charge you a good amount of money -> they will show you the door of course if you use them just for withdrawing from Kraken because they don't earn enough to keep you as a
high risk client.
Plot Twist:
All the aboth mentioned banks onboard you even with a RAK ICC, BVI or
Panama Company which you get for 1000$ because for this Private Banks the Personal Background and your Wealth is the only fin that matters.
The Crypto Company License would be only worth the money if it would get you access to the local UAE retail Banks -which they don't.