Trust Banking (Crypto Exposure)

[CarteBlanche]

Hi All

I'm looking at establishing a Trust structure in either Jersey, BVI or Cayman (based on ease of obtaining banking). The trust structure will have some exposure to crypto denominated proceeds, and as such, i need to find a suitable bank that is comfortable with both crypto, and the trust arrangement.

Anybody have any suggestions on this?

Thanks

 

[JohnnyDoe]

Too generic.

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Martin Everson]

You need to find‌ an entity with both a bank and trust license together so everything works smoothly and‍ seamlessly. Off head you can try Nedbank In Jersey but not sure they would be⁠ comfortable with crypto. Alternative you can maybe can look at Deltec Bank & Trust in Bahamas which is bank that Tether uses. They seem comfortable with exposure to crypto proceeds⁤
.

Alternatively crypto︀ friendly Bank Frick in Lichtenstein may also be an option to investigate. However you would︁ need to setup your own trust with a thirdparty provider or they maybe able to︂ direct you to Trust provider they work with.

P.S Note that if your passport is︃ garbage i.e Russian, Iranian etc don't bother 😕.

 

[uplana]

Where would you setup this Trust if Bank Frick is going to accept this guy‌ as a customer?

 

[Martin Everson]

Like I said you would need to‍ ask firstly which trust providers they would work with. Then see what jurisdictions those providers⁠ offer. Or just ask the bank. However I won't advise just setup a trust anywhere⁤ without running it by the bank firstly. Thats a easy way to get a potential⁣ rejection and wasting time and money.