Fiat - Crypto Payment Gate

[Pitek231]

Hi Guys

My 1st post, pleasure to be here

I am looking for Fiat - Crypto Payment Gate which allows my users to buy my own cryptocurrency via Credit Card from my dedicated platform. The crucial factor is that the tokens will be distributed after ~3 months. I was using AdvCash before, nevertheless, they are not providing card services anymore. The most preferably, I would like to withdraw cryptos (as AdvCash used to serve).

- the company is registered on Cyprus (offshore)
- do not have an IBAN yet (compliance for almost 4 weeks in Integrio, Openpayd and Cashaa) - Could you recommend some EMIs? - The faster the better.
- do not have a license
+ fees basically don't matter

The alternative solution concerns opening a merchant account connected with IBAN provider or express setting an EMI and receiving there. Cannot funds be locked in this case?

I was even thinking about:

- setting up a business PayPal account and receiving the money there as a lot of crypto start-ups do. I think their accounts will be blocked sooner or later, but let's hope not. Or did PayPal policy change?
- purchasing an already established Lithunian company with a crypto license and receiving fiat directly to its account.


Could you recommend some other solution?

 

[CyprusLaw]

Pitek231 said:
Hi Guys

My 1st post, pleasure to be here

I am looking for Fiat - Crypto Payment Gate which allows my users to buy my own cryptocurrency via Credit Card from my dedicated platform. The crucial factor is that the tokens will be distributed after ~3 months. I was using AdvCash before, nevertheless, they are not providing card services anymore. The most preferably, I would like to withdraw cryptos (as AdvCash used to serve).

- the company is registered on Cyprus (offshore)
- do not have an IBAN yet (compliance for almost 4 weeks in Integrio, Openpayd and Cashaa) - Could you recommend some EMIs? - The faster the better.
- do not have a license
+ fees basically don't matter

The alternative solution concerns opening a merchant account connected with IBAN provider or express setting an EMI and receiving there. Cannot funds be locked in this case?

I was even thinking about:

- setting up a business PayPal account and receiving the money there as a lot of crypto start-ups do. I think their accounts will be blocked sooner or later, but let's hope not. Or did PayPal policy change?
- purchasing an already established Lithunian company with a crypto license and receiving fiat directly to its account.


Could you recommend some other solution?
Click to expand...

Hi,

From the information you have provided it seems that you may fall within the scope for registration as a Crypto Asset Service Provider - have you received any legal advice on this?

 

[uplana]

Pitek231 said:
- do not have an IBAN yet (compliance for almost 4 weeks in Integrio, Openpayd and Cashaa) - Could you recommend some EMIs? - The faster the better.
Click to expand...

That's almost impossible for a crypto coin business. I would look into Fidor Bank and similar services.

In regards to merchant account, you need to get a legal opinion and some due diligence work done, ask @CyprusLaw if he is able to help or @Lawyer101 - once you have all this sorted out you may approach some of the merchant account providers in the mentor group, check below link.
https://www.offshorecorptalk.com/resources/categories/high-risk-merchant-account.15/

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[Pitek231]

CyprusLaw said:
Hi,

From the information you have provided it seems that you may fall within the scope for registration as a Crypto Asset Service Provider - have you received any legal advice on this?
Click to expand...

Thanks for the response!

My legal office assured that CASP register is demanded only for Security Tokens. We have done everything to keep utility structrue and aim to provide legal opinion on this as well. According to the messages above I would be glad to cooperate regarding creating another legal opinion. There is never to much

uplana said:
That's almost impossible for a crypto coin business. I would look into Fidor Bank and similar services.
Click to expand...

Fiodr bank has denied my application as I am a start-up and they are supporting only 5m+ Euros yearly

uplana said:
In regards to merchant account, you need to get a legal opinion and some due diligence work done, ask @CyprusLaw if he is able to help or @Lawyer101 - once you have all this sorted out you may approach some of the merchant account providers in the mentor group, check below link.
https://www.offshorecorptalk.com/resources/categories/high-risk-merchant-account.15/
Click to expand...

Thanks for the suggestion. I am still looking for some card payment provider, nevertheless, without a IBAN it's almost impossible to implement. Do you know any other express solution?

On the other hand, I thought about implement PayPal (from another corporate account) as a gate and withdraw it to the Bankera as a asap solution. Then change it to some other provider

Last edited: Dec 7, 2021

 

[fanban]

Fiat to crypto payment gateway that sounds like something I have been searching for. It would be the perfect method to receive anonymous payments.

Do you found such a service?