GBO’s crypto experts will assist you to obtain a crypto business account

Right from the beginning of this shift into digital transactions for cryptocurrencies,

we at GBO have built strong connections with banks that are able to offer the services that any business needs to integrate cryptocurrencies into their business model. We can partner with you and identify the most suitable banks, and establish a crypto-friendly business account. With our professional services at your disposal, you will be able to locate reputable European banks in the countries where you need them.

 

After the introduction of Bitcoin in 2008, there was a phenomenal growth in private trading in the new cryptocurrencies. As the advantages of digital currencies began to filter through into the business world, it became more and more important for companies to be able to treat cryptocurrency transactions in the same way as they have been handling hard currency transactions, with full banking facilities that can accept, swap, transfer, exchange and store the new digital tokens in the same way as they have been handling dollars, euros, pounds and yen.

Find out how we can help you open Crypto Business Bank Account

    What is a crypto friendly business bank account?

    A crypto-friendly business account in a financial institution allows you to trade, swap and exchange cryptocurrencies themselves, and also to swap between crypto and fiat currencies seamlessly. This will allow dealings in cryptocurrencies in exactly the same way as you have dealt with ordinary hard currencies until now.

     

    Most of the traditional banks in Europe have been reluctant to open their accounts to crypto transactions for business customers, mostly because they are more restricted by the KYC/AML requirements (Know Your Customer/Anti-Money Laundering) that are universal inside the EU. That is why newer and more flexible Fintech (financial technology) institutions and Electronic Money Institutions (EMIs) have established an advantage and are attracting businesses to either switch over fully, or at least to channel their new digital business transactions through them.

     

    Finding the right EMI or Fintech bank that matches your own needs can take some time. That’s why using our services can save you effort and money, and reduce the risk of making the wrong choice. Talk to the experts here at GBO to quickly set your business on the right road to digital banking.

    Which are the crypto friendly banks in europe?

    Choosing the right bank offering crypto friendly bank accounts suitable for your business involves many different features. The list below contains the most highly regarded crypto-friendly institutions and is a good place to start your selection.
    At the start of 2022, there were already 16 institutions in the EU that are satisfying the description of crypto-friendly banks for businesses, spread across seven countries. There were more before Brexit took the UK out of the union, and we list these separately.

    Crypto friendly business banks in Europe

    What to look for when selecting Crypto friendly bank accounts for business:

    Security must be a top priority when entrusting your company’s money to any bank. This is even more important for cryptocurrencies, since the degree of control and oversight is lower and the ability to track and reverse transactions does not match the conventional hard currency paths that are more entrenched in corporate banking. We always advise choosing a bank that has a solid history in the cryptocurrency world, without any major hacking incidents.

     

    Each of use comes high on the list of required features. Full digital access on desktop and mobile devices, with user-friendly interfaces will make it easier to monitor and track crypto transactions.

     

    Right now, Bitcoin is the most popular and widely traded cryptocurrency, but it should not be the only one your bank can handle. When you decide to open an account with any crypto-friendly bank, look at the range of cryptocurrencies they support along with which fiat currencies are accepted. To be able to handle business from across the modern business world, you need to have maximum flexibility in handling both.

     

    Although you should take care to be charged fair and reasonable fees for the services, it’s not always a good idea to choose your crypto bank on this basis alone. We advise our customers to pay equal attention to all aspects of the bank’s services.

    FAQ

     

    What banks allow crypto business accounts?

    The list of crypto-friendly banks is growing rapidly. Although most of the traditional banks are still stuck behind the wall, several are already allowing their business clients to transact with cryptocurrencies, and to exchange between fiat and digital currencies.

     

    Can you open a business account for crypto?

    Not all banks currently permit deposits, withdrawals or transactions in digital currencies. For your business to be able to handle these, you should either move over fully to a crypto-friendly bank, such as the ones we have identified in the table above, or else split your banking across the barrier by opening a secondary account at a crypto-friendly Fintech or EMI.

     

    Can an LLC open a crypto account?

    In general, to open a crypto corporate bank account, the same rules apply as for all banking. As long as the bank has the facilities to transact on your behalf, there should be no barrier to a Limited Liability Company (LLC) moving all or some of its banking over into a crypto business bank account. However, it may be necessary to check the corporation’s Articles of Association to see whether there are any restrictions that could prevent trading in other currencies such as crypto.

     

    Best Crypto business bank account

    Deciding which crypto-friendly banks for business offers you the best facilities can be difficult. You are well advised to engage with expert services from us. GBO has over a decade of experience in helping businesses negotiate with European banks and we can give you the right advice to help you make the proper decision in the shortest possible time.

    Recommended for you

    How Much is a Crypto Gambling License Cost?
    23.06.22
    If you want to start a new online gambling service or are interested in adding the ability for customers to transact in cryptocurrency to an existing online casino, talk to our team of experts here at Money-Gate. We have over fifteen years of experience in...
    e-Gaming Payments Software
    23.06.22
    When you investigate the many options that are marketed for such solutions, you can rely on the expert advice that our team at GBO will provide. We also can advise you on which software packages best suit your specific needs, and how to integrate them...
    The Things YOU NEED to Know About Crypto Business Wallet
    23.06.22
    Crypto business wallet The phenomenal growth of cryptocurrencies since the launch of bitcoin in 2009 has made it essential that businesses must keep up with developments. Today, any businessman making decisions, budgets and plans should incorporate crypto management or risk losing a foothold in the...