Everyone wants to buy/sell bitcoins as a trader, but in the United States, you need a money transmitter license. Obtaining an MTL license for cryptocurrencies is no small feat. Even more worrisome is the infamous NY BitLicense and then finding access to banking.
If you are someone who trades more than US$ 1 Million per month, it might be a good time to talk to us. We are now able to provide a white-label Bitcoin OTC trading solution.
This means, licensing, access to banking, non-custodial sale of Bitcoin and other cryptocurrencies, etc. all can be managed by you, under a white-label program at the price point, YOU set.
Hello. My name is Faisal Khan. I’m a banking and a payment consultant.
Of late, we’ve been receiving a lot many queries on how someone can start selling Bitcoin in the United States, with the legal coverage. The problem is, there are a couple of problems. First, you need a money transmitter license in all the states that bitcoin is required, where the license is required. Now, people will argue, well, you don’t require a license in this state and you may not require a license in this state. That may be true, but for money transmission purposes, you probably require MTL in all the states.
But then particularly in New York, you need a BitLicense, which is very difficult to get. So right now, if you want to run some sort of a bitcoin service where you want to sell online and onboard customers from throughout the continental or 50 states in the U.S. and be able to service them, there isn’t any good mechanism there. There is just no way for you to do it yourself.
What we have endeavored and gone and undertaken a journey and it’s been a long journey, let me tell you, is to work with licensed exchanges, and we’ve come up with a white-label, a white label OTC trading desk. That is completely managed by the exchange, you don’t need a broker-dealer license, in our opinion. You can check it out for yourself from your legal firm.
Everything is handled by the white label, by the exchange that is licensed in all 50 states. They do the KYC, they do the onboarding, they will do the funds, they will do the custody of the coins, deliverance, etc. You are simply serving as an ISO or a referral model but under a white label.
So if you have, I could have something like Faisalsbitcoin/dot/com and it’s going to be powered by XYZ exchange. Everything is done by them. This is something, that’s to the best of our knowledge is, not being offered anywhere in the United States at the moment. So this we are very excited about this thing.
If you are an OTC player, a trader, someone who wants to sell bitcoins to the parties concerned and you would like to have your own white label solution without the hassle of the compliance and licensing and everything else. Well, this is something we could help you with.
There are caveats. Obviously, it’s not cheap to enter this domain. It took us a long, long time. So the the the minimum requirement that we set forth right now is that you have to do at least. At least one million dollars worth of sales every month or commit to that much.
But if this is something you are interested in, there is a contact form in the description below. Write to us. Say you are interested and we’ll be happy to talk to you. We hope to launch the service within if not Q1 2020, at least Q2 2020. And you know, if this is something of interest to you, I’ll be happy to speak. Till next time, have a good one
Interested in a white-label OTC trading solution? Talk to us. Schedule a 15-minute, free consultation with us by clicking below.
This page was last updated on February 4, 2020.