We at GBO will assist you to find a Crypto business bank account in Europe

When customers, suppliers and employees start to request to conduct business with your company and work using cryptocurrencies, it is essential that you have set up the proper banking channels so that you can handle this new form of transaction.

 

Until now, the main focus of interest in digital currencies has been in their role as a channel for speculation and investment. The main role of the financial institutions who have been prepared to engage in crypto activity for customers has been to act simply as clearing houses or trading platforms. This is not the role that a crypto-friendly bank must play for you if you are looking to extend your company’s facilities to allow for normal business transactions using cryptocurrencies.

 

We at GBO have had a leading role in helping corporate clients to select the right crypto-friendly bank to support their movement into digital currency banking based on our identification of their range and quality of crypto banking services and how they match our clients’ business needs. 

Valyuz UAB

 

We will help you to open a cypto business bank account

    In this article, we will highlight some of the features any business should be looking for in selecting the best crypto-friendly bank to provide all the necessary facilities to handle cryptocurrency transactions, We can even pinpoint several banks in Europe that are standouts when you are choosing your own crypto business bank account in Europe.

    What to look for when selecting your cryptocurrency business bank

    It’s important to understand that there are two separate streams of banking services in the new cryptocurrency world. On one side are the institutions offering services to investors and speculators. These banks are the equivalent of investment banks and merchant banks. They are not able to provide the required B2B crypto banking services to commercial businesses.

    The other stream supports the move into cryptocurrencies for businesses that are now accepting digital currency payments from their customers, are offering options for salaries and wages to be paid in crypto format directly into their employee’s wallets, and to pay suppliers for goods and services via digital currency channels.. In this article, we are focusing on these banks, for companies that are looking for the best crypto-friendly business banks.

    Essential features of a crypto friendly bank for B2B business

     

    Crypto-friendly business banks must have already structured their systems to not just handle the digital processing of transactions, but be able to provide ways of dealing with the known vulnerabilities that businesses are already facing when incorporating cryptocurrencies into their payment model. Some of these are:

    • Price volatility: Because the value of cryptocurrencies often varies sharply, even within the trading day, there are problems in basic accounting both for businesses and consumers
    • Multiple alternative cryptocurrencies: Thousands of cryptocurrencies are already available, and new coins are appearing regularly. It is not possible to offer the full range, so the bank must match the digital payment methods accepted in your B2B operations.
    • Cashflow disruption: Having incoming revenue in cryptocurrency, whilst outgoing payments primarily in fiat currency, could prove to be a problem, unless the crypto business account provides for seamless conversion at a stable and predictable rate of exchange.

    Crypto-friendly banks in Europe

     

    GBO Financial Services has been providing expert advice in a wide range of leading-edge and innovative fields, such as online casinos, Fintech banking, high-risk merchant banking and crypto banking. Our selection of five crypto-friendly banks in Europe is based on our deep experience in the market. Talk to one of our consultants today to learn what we can do for you in incorporating these dynamic business models into your operations.

    Valyuz UAB

    One of the best services out there is the solution of Valyuz UAB, Valyuz through Krypten offers to receive payments from clients in a decentralized digital currency Bitcoin (BTC). This solution will allow your business to accept crypto payments for goods and services quickly and efficiently. Crypto as a means of payments.

     

    BCB Group

     

    BCB Group is one of Europe’s leading service providers for the digital asset economy, regulated in the UK and Switzerland. The payment methods supported include Bitstamp, BitPay, Kraken, Gemini, Galaxy, and Circle, handling all central fiat and cryptocurrencies.

    It also provides all the necessary corporate banking services, such as institutional payment services in up to 29 currencies, including business accounts with dedicated IBANs for companies requiring cryptocurrency exchanges, technology and account management.

    The bank supports the major fiat currencies, including sterling, euro and US dollar. It has all the major payment networks (UK FPS/CHAPS/BACS, SEPA, SWIFT and US ABA) built in.

    Corporate customers can select wallets and secure custody for major cryptocurrencies, stablecoins and other digital assets, as well as fiat currency accounts. With this bank, you can convert any supported fiat or cryptocurrency position into any other fiat or crypto on the platform, at rates that are better than market averages.

    Business clients can access an online portal to send payments and track receipts via the bank’s automated API.

     

    SEBA

     

    SEBA Bank is a Swiss-based institution that offers payments, transfers, and card services in various fiat and digital currencies through e-Banking, SEBAwallet, and API interfaces. SEBA Bank supports corporate and institutional clients with accounts enjoying services for cryptocurrencies and digital exchanges.

    The bank provides digital corporate finance, digital banking services and digital custody services to corporate customers with capabilities in fiat currency accounts, including the Swiss franc, euro, US dollar, sterling, HK dollar, yen, Singapore dollar and Polish złoty. It provides for transactions in Bitcoin, Ethereum, Polkadot, USD Coin and more than 12 others.

    Payments and card services are fully integrated with all SEBA bank services.

    Mistertango

     

    Mistertango is a brand of Secure Nordic Payments based in Lithuania. It is registered as an EMI.
    Mistertango offers banking services for small and medium-sized companies registered anywhere in the EU & EEA. Business banking solutions are tailored to help meet the needs of businesses wherever they are based.

    Business customers can manage their accounts via Mistertango’s mobile banking app and secure internet banking portal. Together they provide seamless desktop internet banking & mobile app banking so that your business can manage fund movement easily.

    Fast and secure access allows all kinds of SEPA payments, including SEPA Credit and Instant Credit Transfers, B2B Direct Debit Transfers and Core Direct Debit Transfers.

    Mistertango provides 24/7 support for business customers via their online support platform. They conform to the strict financial regulations in Europe, and are regulated by the Bank of Lithuania.

     

    FinXP

     

    FinXP is a European Fintech company based in Malta and is licensed by the Malta Financial Services Authority. It specializes in medium company business accounts, offering an Omni-channel payment gateway that accepts payments online, mobile and POS. PaaS (payments as a service) gives the advantage of batch payment processing, which saves time, yielding cost-savings. SEPA Direct Debit payments can be received from accounts worldwide, and processed through a single IBAN account for all local and international money transfers.

     

    The main advantages for business account holders are rapid account activation., acceptance of non-EU Residents, and 24/7 access from a web-based platform.

    BVNK

     

    BVNK is a UK-based FinTech institution focussing on global businesses with services that bring fiat and crypto in step. A BVNK business bank account will replace a traditional bank with an account that offers more service for less cost. Send, receive, and convert over 200 currencies in a single account. Send and receive payments on all major blockchain networks and payment schemes.
    The company’s customers can trade digital assets and fiat holdings through its institutional-grade OTC desk, with the capacity to move large values. All transactions are integrated into one business account.
    Payments are integrated directly into the account via the cross-border payments facility.

    Crypto business bank account in key jurisdictions

     

    In the next section, we can highlight some of the main features of crypto business banks in the more important countries where these are available. Remember that each one of these countries has complex and specific laws dealing with this new aspect of banking. Before you make any decisions, get expert advice from GBO, where we have the knowledge and experience to set you on the right path

     

    Crypto business bank account in Germany

     

    Commercial banks in Germany are reluctant to allow for crypto bank accounts for businesses. The central Deutsche Bank has set strict rules on dealing with cryptocurrencies and few German banks are willing to work with crypto startups. Some smaller German banks allow cryptocurrency trading for private bank account holders, but there are no business bank accounts currently available. Some of the small financial institutions and EMIs, like Fidor Bank, Bitwala, Vido, Nuri and VPE Bank are already providing a range of cryptocurrency trading and custodial services to private customers, and could be expanding into business accounts in the future. High wealth customers can also get crypto business business accounts from private banks like Max Heinr.Sutor OHG.

     

    Crypto business bank account in Lithuania

     

    Lithuania is leading the crypto financial markets in the EU. Several existing financial institutions and EMIs are expanding their banking services to include crypto business banking accounts.

     

    Mistertango is a registered EMI that provides banking services for small and medium-sized companies registered anywhere in the EU & EEA. Valyuz is a leading EMI that offers a range of financial services and products to businesses.

     

    Crypto business bank account in Malta

     

    Malta is becoming regarded as the “blockchain island” thanks to the favorable legislation and regulation for cryptocurrency enterprises. Several large crypto exchanges like Binance, Bitbay and others are operating out of Malta.

    However, banks there are applying strict rules before they accept corporate customers wanting to deal with crypto transactions. Most are regarding this as high-risk finance and companies must comply fully with the Virtual Financial Assets Act .

     

    After Brexit, there has been a shift in the banking scene in the UK and it is now possible to find EMIs and financial institutions that operate as financial services providers for corporate customers to provide B2B as well as B2C crypto bank accounts. Popular institutions based in the UK like Cashaa, Revolut, Orounda and BCB Group. The first commercial bank to also offer these services is the Royal Bank of Scotland.

     

    Crypto business bank account in the USA

     

    Many large US institutions are already offering private clients full crypto trading and wallet storage facilities to existing corporate customers. These include Bank of America, Chase, Goldman Sachs and Morgan Stanley. Other financial EMIs like USAA, Quontic, and Ally are actively seeking businesses as new customers with B2B and B2C crypto banking account services.

    FAQ

     

    Can you set up a B2B crypto business bank account?

     

    There are no regulations in the UK or Europe preventing trading in cryptocurrencies. Only a few banks are offering the range of services for businesses to handle transactions and payments in digital currencies. It is essential to check that the bank you are opening a new account with matches your requirements.

     

    Which bank account is best for cryptocurrency?

    The choice of which bank account is best for you depends on the account’s purpose and the type of cryptocurrencies you will handle. Unlike the customers whose main purpose for the account is to act as an investment channel, buying, selling and trading in digital currencies for gain. In such a case, the range of accounts is very wide – most of the more popular crypto platforms were created and continue to work in this field. However, for businesses looking to handle normal B2B transactions in cryptocurrencies, there are specialised banks and Fintechs, such as the ones we highlighted in this article.

     

    Can you open a B2B bank account with cryptocurrency?

    Yes, as long as the bank has this facility. Suppose the bank allows you to open a cryptocurrency savings account. In that case, you can invest your funds into cryptocurrencies like Bitcoin, Ethereum or stablecoins. Some traditional banks still block trading and investing in digital currencies.

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