In the early days of the ICO market, where most banks had yet to hear about initial coin offerings, most ICOs were happy to hide their activities and tolerated the risk of retribution from their bank, with many of them having their bank accounts frozen in a matter of months. ICO Launch Malta is in a privileged position to set up our clients with ICO bank accounts, provided that the right KYC and AML processes are in place and that the crowdsale is run through our pre-approved ICO platform.

ICO bank solutions

ICO Malta has contacts with multiple EU ICO banks that provide corporate banking solutions to our clients, providing them with the advantage of accepting wire transfers during their ICO via the bank wire token sale found in our ICO platform. This eliminates a significant barrier to entry to traditional and institutional investors who are looking for exposure to the cryptocurrency markets, yet struggle with the process of acquiring ETH/BTC via exchanges, setting up wallets and transferring cryptocurrency to acquire their tokens.

Fast Track ICO Banking

Clients of our ICO platform benefit from fast track on-boarding with our parter ICO bank, with bank accounts being issued in days versus weeks. ICO Bank account applications are facilitated by simple ownership structures, and in being Maltese limited liability issuing entities.

ICO KYC, AML and whitelisting

The ICO Malta technology stack provides bank levels of user verification. Users submit their information from within our ICO platform, following which it is verified through two third party KYC and AML providers. Both KYC/AML partners are UK licensed identity verification providers and assume the burden of user data and GDPR compliance upon themselves.

Our ICO platform features two layer bank level due diligence protocols, with user data first being run past third party databases that confirm the user’s identity, following which it is run against PEP, sanction, terrorist watch and funding lists. This solution is extremely cost effective as it all-but eliminates false positives and reduces cost of verification dramatically.

Following the collection of documents and user verification, our team will proceed to create a whitelist of all proved contributors, satisfying our banking partner’s criteria for ICO KYC/AML requirements.