Bank Account for a Crypto Company in Spain
Crypto banking is the process of integrating cryptocurrencies into traditional banking. We prepare the source-of-funds dossier, traceability and AML compliance, and we negotiate with crypto-friendly banks to open and keep your accounts.
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Why is it hard to get a bank account for a crypto company?
Banks classify crypto-asset activity as “high risk,” blocking transfers or closing accounts. We lay the legal and documentary groundwork so your project is bankable.
Proof of source of funds
Traceability reports that show the bank your wealth comes from lawful sources (trading, mining, legitimate ICOs).
Banking compliance manuals
We adapt your internal policies so they speak the same “language” as the bank’s compliance department. AML manual included.
Direct dialogue with banks
We talk to risk managers at crypto-friendly financial institutions in Europe to make your bank onboarding easier.
Corporate structure and beneficial ownership
Clear identification of the beneficial owner (UBO) and a transparent corporate structure. Banks reject opaque structures.
VASP / CASP registration
If you hold funds in custody or exchange fiat for crypto, the bank will require your registration with the Bank of Spain or an equivalent (MiCA).
Robust AML/KYC policy
An anti-money laundering manual that shows how you verify your own customers before sending money to the bank.
Crypto banking strategies
We design the legal architecture so your crypto project is bankable and complies with MiCA and AML rules.
Direct bank negotiation
We connect you with financial institutions (EMIs and banks) that understand the crypto model, with a risk-mitigated dossier.
Source-of-funds reports
We document the money trail from its origin to the present day, certifying “Clean Crypto” for the bank.
Segregated accounts
We set up the legal structure that separates your own funds from client funds: an essential requirement for licenses and for banks’ trust.
Payment gateways and tax
Integration of virtual POS terminals and fiat-crypto gateways, and tax planning for the cash-out to avoid exposure with the Spanish Tax Agency.
Companies and profiles we help bank
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Exchanges and Brokers
Omnibus and segregated accounts to move client fiat. Compliance tailored to the exchange’s operations.
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Web3 Startups
Opening an operating account to receive investment and run payroll after an ICO/IDO. Bridge legal structure for DAOs.
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Investors and miners
Cashing out large crypto gains without account blocks. Proof of recurring income from PoW mining and DeFi activity.
The off-ramp problem and its risks
Transferring large sums from an exchange to the bank without prior notice triggers automatic money laundering alerts. We lay the groundwork BEFORE the transfer.
Account freezes
Funds withheld or the account closed without notice. The bank applies “de-risking” when it cannot trace the origin.
No documentation prepared in advance
Without a prepared dossier, reconstructing the trail after the fact is slow, costly and sometimes not enough for the compliance department.
Automatic AML alerts
Large movements without prior justification trigger alerts that may lead to internal reports or reports to SEPBLAC.
Loss of the banking relationship
An account closure over crypto activity can make it harder to open accounts at other institutions (information is shared between banks).
Need a bank account for your crypto company or project?
We prepare the full dossier: source of funds, traceability, compliance and bank negotiation. Get stable operating accounts.
Request banking support →Services related to crypto banking
Crypto banking connects with these crypto compliance and documentation services.
Traceability Report
On-chain analysis: source of funds, clustering, AML/KYT risk and evidence for banks.
→ DossierCrypto Source of Funds
Complete dossier: source of funds, statements, narrative and documentation for the bank or the Spanish Tax Agency.
→ CryptoCrypto-Assets and Blockchain
AML/CFT compliance for VASPs: Travel Rule, MiCA, requests for information and registration with the Bank of Spain.
→ MiCAMiCA and Crypto-Assets
EU regulation: licenses, requirements, adaptation and CASP registration.
→ AMLMoney Laundering and Crypto
Anti-money laundering tailored to crypto operations: risks, controls and evidence.
→ ComplianceCrypto Compliance
Comprehensive compliance program for crypto-asset operators.
→Crypto banking: frequently asked questions
Why do banks close crypto companies’ accounts?
Because of “de-risking”: when they cannot trace the origin of crypto funds, they prefer to close the account to avoid money laundering fines. The solution is to proactively submit a compliance dossier with traceability and AML controls that go beyond the standard.
What documents do I need to open an account?
Beyond company deeds and ID documents, a crypto-friendly bank will require:
- An anti-money laundering (AML) manual.
- VASP/CASP registration or license (if you hold funds in custody).
- A detailed explanation of the flow of funds.
- A report on the blockchain analytics tools you use.
Can an ICO or a DAO be banked?
Yes, but it requires a bridge legal structure. A pure DAO has no legal personality to open an account. We set up corporate structures that act as a legal “wrapper” to interact with the banking system.
What is the difference between an omnibus and a segregated account?
Omnibus: a single account where the funds of all clients are pooled. It is harder to bank because of the commingling risk. Segregated: separate accounts for client funds, kept off the balance sheet. It is the standard required by MiCA and the one banks prefer.
Do you work with Spanish or foreign banks?
Both. In Spain there are institutions that accept crypto activity if the dossier is flawless. We also work with European EMIs (Lithuania, Malta, Germany) that have a greater appetite for the fintech sector.
How long does the banking process take?
It depends on the complexity: type of entity, jurisdiction, volume and whether there is a VASP license. It usually takes 4–8 weeks from preparing the dossier to the account actually being opened.
What if my account has already been frozen?
We take legal action to unfreeze frozen accounts: we prepare the justification dossier, deal with the bank’s compliance department and, if necessary, look for alternative institutions in parallel.
How much does the service cost?
It depends on the profile (exchange, startup, individual investor), volume, jurisdictions and complexity. Tailored quote after a free initial consultation.
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Crypto banking: connecting crypto-assets with traditional banking
Crypto banking allows companies and individuals with crypto-asset activity to operate stable bank accounts. It requires a dossier with proof of source of funds, on-chain traceability and AML compliance adapted to banking standards.
Main requirements
Banks require: an AML/KYC manual, a transparent corporate structure and UBO, a VASP/CASP license where applicable (MiCA), a documented flow of funds and blockchain analytics tools. Separating own funds from client funds (segregated accounts) is an essential requirement.
Crypto services
Other services
Official sources
Key legislation, linked to the official text:
- Law 10/2010 of April 28 on the prevention of money laundering and terrorist financingBOE · consolidated text
- Regulation (EU) 2023/1114 of May 31, 2023 on markets in crypto-assets (MiCA)EUR-Lex · Official Journal of the EU
Legislation and links reviewed in .