Crypto exchange merchant account

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The vast part of European banks rejects to process crypto exchange businesses. The niche-related risks are to blame. As a result, merchants who want to run crypto exchange agencies struggle to find a high-quality payment processor. Hence, they are looking for alternative payment solutions in the face of PSPs. Ikajo International is a PSP that provides beneficial conditions for opening the crypto exchange agency merchant account.

Why crypto exchange agency merchant account is considered high-risk:

As mentioned before, the crypto exchange agency merchant account is considered high-risk. Here is the list of reasons why:

  • No law regulations. Today, there are no fixed laws regulating the crypto business. Hence, the majority of European banks avoid processing crypto exchange agencies. That’s why banks see it equal to processing high-risk businesses [until a merchant holds a Forex license].
  • Instability. Once again, the crypto business is not controlled by any law yet. That means, it totally relies on a human factor (trust).  If Bitcoin falls down, all the other cryptocurrencies are to follow. That leads to uncertainty and vulnerability. Banks are afraid of businesses that might end up broke abruptly.
  • Illegal usage. Crypto is often used for money laundering, buying/selling drugs, porn, e.g. That’s why banks are concerned when it comes to deal with crypto businesses.

What documents one needs to open a crypto exchange agency merchant account:

Here is a list of documents one should collect to accept payments from crypto exchange agency sales:

  • Certificate of Incorporation;
  • Payment processing history;
  • Local documents as per company jurisdiction which displays company directors and owners;
  • Utility bill/Bank statement/Rental agreement under corporate names proving company location;
  • Valid ID copies for all company directors and owners.

Website requirements to open a crypto exchange agency merchant account:

To open a crypto-exchange merchant account, you have to make sure that your website contains the following:

  • Privacy Policy Page;
  • Terms & Conditions Page;
  • Name of the company in the footer;
  • Contact us button with an email and phone number;
  • Deposit & Refund Policy Page;
  • Visa and Mastercard logos [in case you offer them as payment methods]

Why Ikajo

Ikajo International makes payment processing easy and hassle-free. The 15+ years of experience turned us into professionals. We enable crypto exchange merchants’ to open accounts easily as we have multiple acquiring banking partners globally. Contact us today, and we will help you to find a perfect payment solution.

Our services:

  • Payouts worldwide.
  • Fast and smooth merchant boarding process, with minimal merchant KYC requirements.
  • Very flexible license requirements
  • API and HPP integration
  • PCI DSS certificate
  • Chargeback prevention
  • A wide range of payment methods
  • 24/7 customer support

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