EMI/PSP for new Polish VASP or Established Australian VASP

[bizbizbiz]

Hi all

I have an established small Crypto OTC company in Australia with KYC/AML processes and a good Compliance Officer and we are about to set up a Polish VASP.

I am looking for an EMI/PSP/Bank for Europe, I liked Ambr's pricing (Ambr Payments Pricing). The plan was to onboard my Aus entity but work under our Polish VASP, so I can use my existing LP rather than having to set up multiple.
Both Ambr and Zen said they would onboard my Australian entity, upon applying (just submitted corporate docs + website link only) both rejected without giving a reason (not in their risk appetite).

Bankera said they can onboard me, but have a non-refundable 2400EUR application fee, which based on Ambr/Zen seems to risky to go ahead with.
Clear Junction and OpenPayd's are interested but their pricing is too expensive.

Would you have any suggestions or think I should just bite the bullet and use my Polish VASP?

Thanks

 

[Sols]

If you have all the necessary registrations in Australia, opening a bank account in Australia might be an option worth considering. If you do that first, showing a bank statement/reference from a major Australian bank can have a significant positive effect on your chances opening accounts elsewhere.

Aside from that, just keep trying crypto friendly EMIs. You can try for example Verifo, GuruPay, Nexpay, BVNK, and Genome.

Bankera said they can onboard me, but have a non-refundable 2400EUR application fee, which based on Ambr/Zen seems to risky to go ahead with.

Unless it was their head of compliance who said that after reviewing your company in detail, I wouldn't believe that statement at all.