Opening accounts in banks and payment systems: efficiency and correctness of the procedure

Crypto companies, like any business, need to have bank accounts in order to withdraw their own funds. Blocons is ready to help in this matter and quickly complete the process of opening an account for your company.

Features of opening bank accounts for cryptocurrency projects

The active growth of cryptocurrency projects is accompanied by the creation in all countries of various laws to regulate this area. Many countries are still beginning to work on legislation, and it is not easy to implement activities in such conditions. In particular, it is not easy to obtain a license and open accounts for ICOs, cryptocurrency exchanges, funds, blockchain projects. Banks do not easily agree to such a procedure, and in order to launch it, a special package of documentation is required. This is due to the high coefficient on crypto assets, as banking institutions consider such companies to be “high-risk clients”.

If you need to open a bank account for ICO, and you do not know the intricacies of the procedure, use the support of Blocons specialists. We will help you to implement everything correctly so that the bank or payment system gives access and accepts your request to open an account.

What do you need to open a bank account for an ICO?

Since cryptocurrency projects are poorly regulated by laws, this provokes a large influx of scammers. Through such structures, money laundering is carried out, which banks are wary of. Therefore, they refuse to cooperate.

To open an account with a traditional banking institution, you will need:

  1. Submit all documents to confirm the AML and KYC procedures in order to increase the reputation of your business and confirm the protection against money laundering.
  2. A package of documents, meaning licenses from the jurisdiction, it is better if it is issued in an EU country, as well as all documentation about the company and its beneficiaries.. 

A number of banks may put forward additional conditions like making a deposit to an open account or maintaining the balance of funds at a certain level.

The procedure for registering a bank account will be accompanied by difficulties, but with the support of lawyers from Blocons, they can be overcome. 

Why is it worth opening an ICO account with our support?

Our law firm specializes in cryptocurrency projects and offers its services. At Blocons you will receive:

  1. Qualification consultations on the choice of a banking institution or payment system. Lawyers will analyze your company and select the best option for you to issue an invoice for ICO.
  2. Professional assistance in preparing documents for opening an account for the withdrawal of cryptocurrencies. We will issue all the necessary confirmations so that your business passes the check and is not rejected.
  3. Competent support of all stages of the procedure until the full opening of a bank account.

Our lawyers will take care of all the functions of registration on a turnkey basis. You can trust us with your project because:

  • our lawyers monitor the legislation of all countries and select the best solution for your tasks for international activities;
  • we promptly carry out all processes, as everything is adjusted;
  • we provide confidentiality of our clients and full support in preparation.

Blocons will help you avoid risks and lengthy red tape with paperwork, and ensure that the procedure is completed correctly. Leave a request on our website to quickly and correctly open a bank account or payment system for your crypto project. We will contact you immediately and discuss the conditions and needs of your business.

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