Operational account for Polish Crypto exchange

[Kimi]

Hi everyone,

I am looking to open a regular operational account (SEPA, swift if possible) preferably in the EU for a company licensed in Poland.
The company has a certificate of registration for virtual currency activities.
Business activity is Crypto exchange, trading, and digital wallet.
Since this is a new company just registered last year, it does not have any operational accounts.
We applied with Mistertango, Finductive, Paysera, Payally, Narvi, ModulR (but they want a set up fee of 10K a month with 5K monthly fee-crazy), but no luck so far

Any ideas?

Thanks

 

[TheCryptoAnt]

Try Bankera, or Zen.

Zen started working with Bybit for EUR tx 'recently'.

ADVCash will open you an account by next week too. I know its not perfect but for crypto its great.

Kimi said:
but they want a set up fee of 10K a month with 5K monthly fee-crazy
Click to expand...

I dont think its that high tbh, crypto fees will pay for this in no time.

Share a link to your exchange pls.

 

[diatessaron]

Off-topic: What rates did Modulr have? Anything specific?

 

[Kimi]

diatessaron said:
Off-topic: What rates did Modulr have? Anything specific?
Click to expand...

We saw the rates I mentioned and immediately gave up 🙂) I do not however remember other rates in particular, it as a few months ago.

 

[AlexPCS]

Kimi said:
Hi everyone,

I am looking to open a regular operational account (SEPA, swift if possible) preferably in the EU for a company licensed in Poland.
The company has a certificate of registration for virtual currency activities.
Business activity is Crypto exchange, trading, and digital wallet.
Since this is a new company just registered last year, it does not have any operational accounts.
We applied with Mistertango, Finductive, Paysera, Payally, Narvi, ModulR (but they want a set up fee of 10K a month with 5K monthly fee-crazy), but no luck so far

Any ideas?

Thanks
Click to expand...

We have positive experience with major polish banks + exchanges like kraken, exmo, binance. However here I am talking about personal accounts. Have you tried opening usual corporate bank account in a polish bank and then setup a corporate crypto exchange account?

Toggle signature

Private nominee service - Crypto-friendly debit cards, EMI and bank accounts, company formation. - Telegram: @cards_service - Telegram contact Signal: @cards_service.99 - Signal contact​

 

[TheCryptoAnt]

Another option is to open an UAB in LT and get an EMI license

 

[cosmosresident]

TheCryptoAnt said:
Another option is to open an UAB in LT and get an EMI license
Click to expand...

but he will need 350,000 capital with LT EMI License. Not so a good option. There are a lot of EMIs and Distributors which can onboard you as you have a license and offer you both and operation account and c2b account.

 

[CyprusLawyer101]

Kimi said:
Hi everyone,

I am looking to open a regular operational account (SEPA, swift if possible) preferably in the EU for a company licensed in Poland.
The company has a certificate of registration for virtual currency activities.
Business activity is Crypto exchange, trading, and digital wallet.
Since this is a new company just registered last year, it does not have any operational accounts.
We applied with Mistertango, Finductive, Paysera, Payally, Narvi, ModulR (but they want a set up fee of 10K a month with 5K monthly fee-crazy), but no luck so far

Any ideas?

Thanks
Click to expand...

Is this for own funds trading or it will be providing exchange services to third parties ?

 

[TheCryptoAnt]

cosmosresident said:
but he will need 350,000 capital with LT EMI License. Not so a good option. There are a lot of EMIs and Distributors which can onboard you as you have a license and offer you both and operation account and c2b account.
Click to expand...

word but he running a crypto exchange. Fees come in hot.

 

[Forester]

Kimi said:
Hi everyone,

I am looking to open a regular operational account (SEPA, swift if possible) preferably in the EU for a company licensed in Poland.
The company has a certificate of registration for virtual currency activities.
Business activity is Crypto exchange, trading, and digital wallet.
Since this is a new company just registered last year, it does not have any operational accounts.
We applied with Mistertango, Finductive, Paysera, Payally, Narvi, ModulR (but they want a set up fee of 10K a month with 5K monthly fee-crazy), but no luck so far

Any ideas?

Thanks
Click to expand...

If your certificate of registration can be treated as some kind of licence (it's not clear to me), you can go well with Intergiro, but only for SEPA (they are not able to offer SWIFT to crypto companies).
Zen is a good option, too. Perhaps less solid than Intergiro but I guess you can obtain SWIFT and you need not to be specially licensed.
What about Bunq?
Or, if you have some ambitions and something reasonable to deposit, SEBA Bank is worth to consider.

P.S. I am also not surprised by Modulr fees, they target at institutional clients (e.g. backing Revolut) and in this context it is really not much.

Last edited: Apr 26, 2023
Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Cons Mark]

Kimi said:
Hi everyone,

I am looking to open a regular operational account (SEPA, swift if possible) preferably in the EU for a company licensed in Poland.
The company has a certificate of registration for virtual currency activities.
Business activity is Crypto exchange, trading, and digital wallet.
Since this is a new company just registered last year, it does not have any operational accounts.
We applied with Mistertango, Finductive, Paysera, Payally, Narvi, ModulR (but they want a set up fee of 10K a month with 5K monthly fee-crazy), but no luck so far

Any ideas?

Thanks
Click to expand...

You can try Bankera and/or Payset.

 

[Kimi]

Forester said:
If your certificate of registration can be treated as some kind of licence (it's not clear to me), you can go well with Intergiro, but only for SEPA (they are not able to offer SWIFT to crypto companies).
Zen is a good option, too. Perhaps less solid than Intergiro but I guess you can obtain SWIFT and you need not to be specially licensed.
What about Bunq?
Or, if you have some ambitions and something reasonable to deposit, SEBA Bank is worth to consider.

P.S. I am also not surprised by Modulr fees, they target at institutional clients (e.g. backing Revolut) and in this context it is really not much.
Click to expand...

Hi, thanks for a very good reply. Can you please share Zen's website, I am stuck as I never heard about them?

 

[Forester]

Kimi said:
Hi, thanks for a very good reply.
Click to expand...

You are welcome.

Kimi said:
Can you please share Zen's website, I am stuck as I never heard about them?
Click to expand...

It's really straightforward: Home 🙂

Toggle signature
--------------------------------------------------------------------------------------------------------------------------------------

I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...