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Which "company-bank account" combo is best for a crypto exchange business?

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beeyouessness

New member
A friend of mine has built a crypto exchange website and app which has been live for the past 6 months with nothing but positive feedback from customers. They are upgrading the platform and many investors have agreed to invest in the company in exchange for equity in the US company. The problem is that it's a US company based in Deleware and no bank will accept a crypto business. Even "crypto banks" don't associate with US companies. Now their only option is to incorporate the company offshore and use that company to open the bank account.

My question is, which "company-bank account" combo is best for a crypto exchange business?
for example, BVI company with a Signature bank account,
or, Seychelles company with a Silvergate bank account.
 

John Spectre

Entrepreneur
Do you have real examples where Silvergate or Signature onboard offshore companies?
It's a too risky combo as for me.
I think combo with EU company, from for example LV + Clear Junction Limited or crypto EMI have bigger chance for being alive
 

Fulton Abraham Sanchez

Silver Member
BANNED MEMBER
A friend of mine has built a crypto exchange website and app which has been live for the past 6 months with nothing but positive feedback from customers. They are upgrading the platform and many investors have agreed to invest in the company in exchange for equity in the US company. The problem is that it's a US company based in Deleware and no bank will accept a crypto business. Even "crypto banks" don't associate with US companies. Now their only option is to incorporate the company offshore and use that company to open the bank account.

My question is, which "company-bank account" combo is best for a crypto exchange business?
for example, BVI company with a Signature bank account,
or, Seychelles company with a Silvergate bank account.
I will say Nevis company plus Antigua bank account. We've done that for clients in other industries. Let me email the bank in Antigua to confirm.
 

beeyouessness

New member
Do you have real examples where Silvergate or Signature onboard offshore companies?
It's a too risky combo as for me.
I think combo with EU company, from for example LV + Clear Junction Limited or crypto EMI have bigger chance for being alive
I do not have any examples, I was hoping to find someone that does.

Do Signature and Silvergate already rejected it?
They reject US companies.
 

beeyouessness

New member
That would be good to know. My buddy tried but no banks in Antigua would take his company. He ended up finding one in St. Kitts tho
Is this for a crypto exchange? So a bank in St. Kitts opened an account for which jurisdiction?

It's so difficult to find info on this and companies charge you thousands with no guarantee that the bank will accept your application.
 

DSCorp

New member
I do not have any examples, I was hoping to find someone that does.


They reject US companies.
I am curious to know the details, because we are also a Delaware incorporated company in the crypto space, they know that, and the onboarding with Signature has been smooth so far.
 

Admin

Forum Moderator
Staff member
Elite Member

beeyouessness

New member
I am curious to know the details, because we are also a Delaware incorporated company in the crypto space, they know that, and the onboarding with Signature has been smooth so far.
So you already got accepted? You must have all the necessary licenses and are registered as an MSB with FINCEN, right?
 

Tr0nad0r

Active Member
I guess the previous message was about Migom. On Migom website:

"E-money services powered by Transactive Systems UAB, a licensed Electronic Money Institution supervised by the Central Bank of the Republic of Lithuania. Registered number: 304705758. Registered office: Transactive Systems UAB, Verkių g. 25C, LT-08223, Vilnius, Lithuania. LEI code: 98450077475GDA053A75"

Since Migom is using Transactive (yes, a bank using an EMI) I guess you can talk to them directly instead of using Migom. Transactive is the provider of EUR accounts for Crypto.com as well, if they can provide services to a Dominican bank and to crypto exchanges I guess they accept high-risk businesses.
 
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