Companies working with digital currencies and crypto assets face challenges associated with opening and maintaining a bank account. Choosing a cryptocurrency-friendly financial institution is not always possible. The main reason banks refuse to cooperate is the lack of regulation of crypto activities in many jurisdictions.

An attractive alternative is to open an account with one of the payment systems that allow for confidential transactions, purchases, cryptocurrency exchanges, and any other financial activities anywhere in the world. This solution is particularly relevant for innovative business models and startups.

When opening a current account in a payment system, the client is assigned a unique IBAN for working within the SEPA system. Financial platforms are available as applications on iOS and Android systems.

SatchelPay Service

SatchelPay is a universal payment system registered in Lithuania. The service has been operating since 2018 and has a license from the Bank of Lithuania. It is one of the most popular payment systems, with several advantages:

• the ability to open a multi-currency and merchant account;
• high transaction speed;
• convenience and ease of use of the account;
• currency exchange at low rates;
• the possibility of remote registration;
• bank cards for making payments and withdrawing cash anywhere in the world;
• registration of offshore companies;
• the ability to conduct all necessary corporate transactions from a single account.

ValensPay Service

ValensPay is registered in British Columbia, Canada, and has a FINTRAC license for money services activities. The service also has offices in the United Kingdom, Denmark, and Vietnam. The advanced fintech platform offers all standard financial services needed by individuals and companies, including a mobile application for cryptocurrency banking. This project has focused on aspects such as security, ease of use, and information transparency.

How to open an account for a crypto business

To open an account with alternative payment systems, it is necessary to provide a package of documents to representatives of the financial institution. IT-OFFSHORE specialists will help you quickly and securely open an account for a crypto business in the ValensPay and SatchelPay systems.