Crypto license in Estonia

Before opening an account, it is beneficial to know which countries officially regulate cryptocurrency activities and have the most secure banks. Each jurisdiction has its specific differences in cryptocurrency regulation, therefore to open an account for a cryptocurrency company, you should familiarize yourself with the legislation of the country. For example, countries like Malta and Estonia promote cryptocurrency activities, while China and Russia have significant restrictions on such businesses, and Thailand and Vietnam prohibit cryptocurrency operations. If a country has introduced new cryptocurrency regulations, its banks can accept requests to open accounts for this type of business. An example of such a country would be Estonia, which provides fair and precise regulations of the cryptocurrency business. For more information on cryptocurrency activity regulations in Estonia, you can contact us for personal advice on the subject.

Besides, it is essential to know that many European and International banks widely vary in cryptocurrency transactions and conduct more accurate checks. Therefore, professional help is crucial in this matter. If you wish to open a bank account for your cryptocurrency business in Estonia, you can ask our experts to assist you. We will find the most loyal bank for cryptocurrency transactions and help you to open a corporate account.

Opening an account in a payment system is the best solution for cryptocurrency companies having difficulties opening a bank account. Banks can sometimes have a negative opinion on this kind of start-up, considering it risky. In this case, it is possible to solve the problem by opening an account in a payment system and handle company payments. It is best to open a payment system account with the help of appropriate professionals. We are always happy to assist you in finding the right payment system for your business and providing the requirements for opening such an account.

When opening a bank account for cryptocurrency companies, additional checks related to the company representatives and the origin of funds are frequent. These types of inspections help identify AML/KYC related risks. Many banks also conduct thorough checks on general managers and ask for more information about the cryptocurrency company. We have enough experience to support clients in these matters and are ready to assist them throughout the entire process of opening an account in a bank or payment system.

Some jurisdictions still lack legal regulations for cryptocurrency activities. This fact may be the main reason why banks refuse to deal with cryptocurrency transactions. It is hard to open a bank account for a crypto company in countries where cryptocurrency transactions are not legally regulated. In addition, some financial institutions still prefer to provide banking services only to companies conducting traditional activities.

However, it is possible to open a bank account for cryptocurrency activities by contacting our specialists.

When opening a crypto company account in a financial institution, it is necessary to have permission for such activities (crypto-licence) and a transparent company structure with a clean reputation of all its participants. In this case, your company must provide some documentation, such as information about the company organization, general managers, and beneficiaries, as well as AML/KYC policies. You can get help in preparing and sending these documents by using our firm’s services.

When opening a settlement account, you must be prepared to make a one-off payment. The amount can vary from 100 to 1,000 euros. Some payment systems serve cryptocurrency companies charging monthly account fees, which vary from 50 to 300 euros. However, there are some payment systems among our partners that do not charge a monthly fee. You can find out more about the costs and their extent by contacting us for assistance. We will give you an individual consultation and precisely explain all the costs involved in maintaining the account.

SEPA and SWIFT are among the most popular payment systems for international money transfers. SEPA allows payment in euros throughout the European Union, which is almost instantaneous. SEPA payment is renowned for its speed and low transaction fees. SWIFT payment is a type of transaction that allows payments to be sent to international bank accounts. Payments can be made in euros, dollars, pounds sterling, Australian dollars and Japanese yen. The credit period for such payments is 72 hours.

EU countries use SEPA for payments, which is fast and low-cost. SWIFT provides global transfers in almost any currency to practically every country in the world. If you would like to receive more information on the international payment systems mentioned above, please feel free to contact us for assistance. We can help you find the most suitable solution for your international business activity.

It is possible to connect an acquiring payment system to receive card payments. This system enables entrepreneurs to accept payments from clients via bank cards. It is also possible to pay with debit and credit cards using mobile apps such as Apple Pay and Samsung Pay. When settling a payment, the acquiring bank receives and then transfers it to the company’s account. The acquiring service also includes banking and technological services, including transmitting and processing of client’s data. There are several types of acquiring services, such as merchant acquiring for businesses with a bank terminal, online acquiring for shops with a payment form on their website, and mobile acquiring via smartphone. It is also important to note that acquiring is available for any business type, including cryptocurrency activities.

In addition to acquiring, it is also possible to conveniently accept card payments through processing. The processing technology verifies and processes transfers. In addition, this technology can receive or reject plastic-card and e-wallet transactions using special software. Payment service providers (PSPs) allow companies to connect different payment methods and ensure that they are correctly accepted.

Additionally, a company account can handle expenses associated only with the company activities. The activity account has no client funds and is not bound to the execution of exchange transactions. It is a separate account for the accounting of a company’s activity funds and their sources. In other words, the existence of such an account ensures the control and management of all the company’s business operations, which are necessary for determining its market position, identifying the company’s financial position, and making management decisions.

In addition to having a company activity account, there is also a segregated account. This is a separate account in which clients’ funds are kept separate from the company’s capital. Segregated accounts belong mainly to companies involved in activities such as online casinos, bookmakers and cryptocurrency exchanges. In this case, a segregated company account gives its clients the security guarantee about their separately stored funds. In case of company bankruptcy, the client’s funds will not be affected.

If you are interested in getting additional information on the different types of accounts mentioned above or opening them, contact us. We will be glad to answer any questions you may have.