Corporate Crypto Accounts - CEX options?

[Nigital Domad]

Hello! Anyone have advice for which CEX to use for opening a corporate crypto account for a Hong Kong or Australia-based corp? Something easy to use to receive crypto payments in from clients, Xfer to fiat, then wire to same corporation's bank / operating accounts? Not a high risk business. Any positive or negative reviews out there?

 

[W Fish]

1. Why do you want to direct customer payments to CEX instead of your own custodial wallet(s)?
2. The choice of DEX comes down to personal preference - functionality is the same in broad terms. I have tried ca 5 bigger ones, use Kraken most.
3. Use DEXes for conversions only. Hold your funds in self custody.

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Expense invoices with cashback (in crypto). Crypto on/offramp with invoices. Crypto SOF solutions.

 

[Nigital Domad]

W Fish said:
1. Why do you want to direct customer payments to CEX instead of your own custodial wallet(s)?
2. The choice of DEX comes down to personal preference - functionality is the same in broad terms. I have tried ca 5 bigger ones, use Kraken most.
3. Use DEXes for conversions only. Hold your funds in self custody.
Click to expand...

1 - not just for customer payments, also want to trade under company name.
2- DEX can give IBANS to use for transfering fiat?

 

[W Fish]

Nigital Domad said:
1 - not just for customer payments, also want to trade under company name.
2- DEX can give IBANS to use for transfering fiat?
Click to expand...

1. Then you have to look which one suits your particular trading needs better. Very difficult to say something withhout knwing them. Basic functions are very similar.
2. Sure.

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Expense invoices with cashback (in crypto). Crypto on/offramp with invoices. Crypto SOF solutions.

 

[Nigital Domad]

W Fish said:
1. Then you have to look which one suits your particular trading needs better. Very difficult to say something withhout knwing them. Basic functions are very similar.
2. Sure.
Click to expand...

ANy particular DEX you suggest?

 

[W Fish]

W Fish said:
2. ... I have tried ca 5 bigger ones, use Kraken most.
Click to expand...

For me all things considered that has left the best experience. I dont use any complicated trading strategies.

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Expense invoices with cashback (in crypto). Crypto on/offramp with invoices. Crypto SOF solutions.

 

[gh0p]

Nigital Domad said:
ANy particular DEX you suggest?
Click to expand...

DEXes can be great tool for personal onramp maybe even offramp and are truly the future.

But on corporate side be careful with DEXes same with P2P sites. A lot of "dirty" crypto flowing through places like that or at best if your clients crypto is for example relatively clean (aml <25%) there's chance you'll be mixing it with high ones resulting in more medium risk coins. Everything above 20-25% gets stopped at exchanges or swapper sites and asked for further verification and documentation. (majority of them use amlbot to scan wallets and do KYT)

Another thing to be careful of is on some DEXes which support fiat offramp sometimes the money you receive can be from fraud accounts (personal or corporate). Very unlikely to be the accounts from which the fraud is happening but rather some intermediary step in the chain. At first you won't recognize it but as investigations pick up days, weeks or months later you might end up with frozen bank accounts and many other issues.

Given your business you said isn't high risk these are some things you should be mindful of.