Exchange USDT to USD to HK company

[Lobster095]

Hello everyone.
Please advise the cheapest and correct way to exchange USDT for USD with withdrawal to a company account in Hong Kong. How do banks treat the receipt of money from a cryptocurrency exchange? The Hong Kong company trades in IT equipment. Maybe some licenses are needed for such operations?
Thanks

 

[ImKing]

What is wrong with Binance and Kraken if I can ask ?

 

[Lobster095]

I have never done this before so I have no experience. I have‌ always used a personal account and now I need to send fiat to a company‍ account. Can Binance do this? Do they send money to the company account in the⁠ HK? How do banks view such payments?

 

[JohnnyDoe]

You need P2P

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[Lobster095]

But with P2P we don't know from‌ which company we will receive money and for what. Goods or services. The bank will‍ have questions.

 

[offshoremaster17]

find a trusted company willing to do it for you.

 

[forward]

any reasonably licensed vasp can⁤ do an otc b2b conversion for you.

 

[offshoremaster17]

Vasp are all getting expired in the coming months for mica btw

 

[Mary P]

Actually, most of the VASPs will have a transition period.
In Poland, for‌ example, VASPs may operate under existing provisions until mid-2025, but new MiCA license applications must‍ be filed by May 1, 2025.
For the Czech Republic, the transition period will be⁠ till July 1, 2026