Trust Banking (Crypto Exposure)

[CarteBlanche]

Hi All

I'm looking at establishing a Trust structure in either Jersey, BVI or Cayman (based on ease of obtaining banking). The trust structure will have some exposure to crypto denominated proceeds, and as such, i need to find a suitable bank that is comfortable with both crypto, and the trust arrangement.

Anybody have any suggestions on this?

Thanks

 

[JohnnyDoe]

Too generic.

 

[Martin Everson]

Anybody have any suggestions on this?

You need to find an entity with both a bank and trust license together so everything works smoothly and seamlessly. Off head you can try Nedbank In Jersey but not sure they would be comfortable with crypto. Alternative you can maybe can look at Deltec Bank & Trust in Bahamas which is bank that Tether uses. They seem comfortable with exposure to crypto proceeds

.


Alternatively crypto friendly Bank Frick in Lichtenstein may also be an option to investigate. However you would need to setup your own trust with a thirdparty provider or they maybe able to direct you to Trust provider they work with.


P.S Note that if your passport is garbage i.e Russian, Iranian etc don't bother .

 

[uplana]

Where would you setup this Trust if Bank Frick is going to accept this guy as a customer?

 

[Martin Everson]

Where would you setup this Trust if Bank Frick is going to accept this guy as a customer?

Like I said you would need to ask firstly which trust providers they would work with. Then see what jurisdictions those providers offer. Or just ask the bank. However I won't advise just setup a trust anywhere without running it by the bank firstly. Thats a easy way to get a potential rejection and wasting time and money.