Crypto Merchant Account [Cryptocurrency Business Banking]

If you’re in search of a crypto merchant account, you’re in the right place.

In this article, we’re going to share how you can navigate the available options and the specific European markets you might want to consider for account opening.

Of course, if you’re looking for personal offshore banking you can use our other free resources like Guernsey offshore banking, banking in the Isle of Man, Switzerland, and elsewhere.

Feel free to use the table of contents to jump ahead to the sections most relevant to you.

Table of Contents

  1. Cryptocurrency & Crypto Merchant Accounts
  2. Cryptocurrency Merchant Services
  3. Crypto Merchant Account Jurisdictions
  4. Frequently Asked Questions
  5. Ready to Explore Your Options?

Cryptocurrency & Crypto Merchant Accounts

When it comes to opening crypto merchant accounts, business owners are typically looking for one of two possible outcomes:

1. Crypto Merchant Accounts that Accept Crypto

The first outcome includes crypto merchant accounts that allow businesses to receive customer payments in cryptocurrency through online gateways. This typically includes payment gateways that also support FIAT transactions and credit card payments.

2. Merchant Accounts for Crypto-Related Businesses

The second outcome includes traditional merchant accounts that accept businesses involved in cryptocurrency. In other words, business owners are looking for traditional payment processing and payment gateways to receive FIAT payments from their customers.

Not surprisingly, the options that cater to each of these two outcomes are very different. Likewise, the account opening process, the perceived risks involved, and the jurisdictions that business owners can consider are also different.

In the next section of this article, we’ll take a closer look at where business owners can open both of the merchant accounts referenced above.

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Cryptocurrency Merchant Services

As mentioned, cryptocurrency merchant services vary depending on the type of business you have and the specific activities your business is involved in. With this in mind, we will discuss several merchant services related to cryptocurrencies followed by jurisdictions you might want to consider below.

Crypto Payment Gateways

Not surprisingly, many payment gateways have started to accept major cryptocurrencies. This has allowed a wide range of traditional businesses to start accepting payments from their customers in cryptocurrency directly, without the need to integrate separate payment processing functionality.

Payment Processing for Crypto Projects

Crypto is still considered high-risk. As a result, the vast majority of businesses involved in crypto still struggle to open bank accounts, not to mention payment processing accounts. As a result, most businesses engaged in cryptocurrency tend to open accounts with banks and payment processors that support high-risk businesses and offshore entities.

Crypto Merchant Account Jurisdictions

If you have a business that is directly involved in cryptocurrency and you’re looking to open crypto merchant accounts, you may want to consider high-risk and offshore service providers.

Not surprisingly, many of the high-risk and offshore merchant service providers are located in offshore jurisdictions. With this in mind, let’s take a look at a few of the jurisdictions where you might find suitable merchant services for your crypto business in Europe.

  • Malta
  • Lithuania
  • Hong Kong
  • United Kingdom

However, it’s important to note that many of the large payment processing companies are based in the United States. This includes companies that offer crypto merchant accounts and are willing to onboard businesses involved in related activities. However, they review applications on a case-by-case basis.

Frequently Asked Questions

Below are two of the most common questions that we receive from people interested in Crypto merchant accounts. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.

What Is a Crypto Merchant Account?

A crypto merchant account typically refers to an account that lets businesses receive customer payments via a selection of cryptocurrencies. However, it may also refer to a fiat merchant account for companies involved in cryptocurrency-related projects.

Can I Open a Crypto Account For My Business?

In addition to a crypto merchant account, businesses can open a crypto trading account. However, depending on where the business is registered, there may be a wide range of reporting and tax requirements that the business owner should consider before deciding if this is the right decision.

Ready to Explore Your Options?

If you would like assistance navigating your banking options at home or abroad, we can help.

You can access GlobalBanks IQ, our international banking intelligence platform, in just a few clicks. Unlock our bank database, individual bank profiles, account opening strategies and reports, banker scripts, and more.

But, if you want a 100% personalized account opening service that taps into our team’s expertise and provides direct banker introductions, you can get started with GlobalBanks Insider.

Of course, if you have any questions, please contact us directly.

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