A company address in Zug is not a guarantee of a bank account. Swiss banks assess the actual crypto business model, licensing position, ownership, transaction flows and controls over customer assets.

Editorial note: Swiss rules, bank acceptance standards and cantonal fees change. This is a research starting point, not legal, banking or tax advice. Confirm the current requirements with the cited authorities and a qualified Swiss adviser.

Banking access is model-specific

There is no dependable static list of banks that will open every kind of crypto account. A proprietary software provider, a token issuer, a broker and a custodial exchange have materially different risk and regulatory profiles. Confirm current acceptance criteria directly with each prospective institution.

Account-opening conditions

Prepare a corporate ownership chart, beneficial-owner identity records, source-of-funds evidence, business plan, user geography and expected fiat/crypto corridors. Show clearly whether client assets are held, whether funds are pooled and which external counterparties or virtual-asset providers are involved.

Reporting expectations

A bank may ask for AML policies, customer due diligence, sanctions screening, wallet monitoring methods, compliance ownership and evidence of any necessary FINMA authorisation or self-regulatory affiliation. Exact requests vary with the service, risk rating and applicable rules.

The custody distinction

Direct ownership of segregated wallets differs from collective custody or the ability to transfer customer assets at the company’s discretion. FINMA’s descriptions of fintech and banking licence boundaries underscore why the technical custody architecture belongs in the bank onboarding file.

How to approach institutions

Prepare a short compliance dossier and an honest flow-of-funds diagram before contacting banks. Ask about supported business models, jurisdictions, currencies, fees and minimum balances. Maintain a second operating contingency in case onboarding is delayed or declined.

Frequently asked questions

Does being incorporated in Zug guarantee crypto banking?

No. Account acceptance remains a bank-level decision.

Can a crypto company need FINMA authorisation?

Yes, depending on deposit-taking, custody, securities activity or other regulated functions.

Primary references & further reading

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