Discover the Cybrid
Fiat FBO Account

A complete fiat solution designed to provide secure and connected onramp and offramp experiences for your users.

What are For Benefit Of accounts?

For Benefit Of (FBO) accounts are unique types of financial accounts utilized for the benefit of a specific individual or entity. An FBO account acts as a middleman.

It allows the original owner of funds to securely manage them, and also provides a platform for the eventual recipient. This process is efficient and secure. The term "FBO" refers to a financial services practice. This practice involves depositing funds into an account for the benefit of a specific individual or entity.

Opening an FBO account is a straightforward process via a Banking as a Service API, like Cybrid. Just like any other financial account, the account opening is carried out by our sponsoring bank.

Verify the identity of the account holder and beneficiary. Sign relevant account documentation. Deposit initial funds.

One notable advantage of an FBO account is its focus on transaction monitoring. This process allows for increased transparency and control over financial transactions. Transactions made through an FBO account are tracked and monitored carefully. This ensures funds are used correctly and effectively for the specified beneficiary.

Explore the importance of FBO Accounts

Strong Bank Partnerships
and Fiduciary Account Management

Our partnerships with trusted bank partners give us an advantage. These partnerships enable us to seamlessly allow companies to open an FBO Account, both USD and CAD, connected to our Smart Order Router. Our platform offers robust fiduciary account management, maintaining the highest level of integrity and professionalism in handling your users' funds.

Cybrid's Financial Services provide efficient operations for your platform. We have strong banking relationships to support this.

Due Diligence, Risk Management, and Regulatory Compliance

For USD and CAD Accounts

Trust our extensive due diligence procedures to safeguard your money services business, catering to both USD and CAD currencies. Our Fiat FBO Accounts use strict risk management protocols. This safeguards your users' funds and sensitive data. It also ensures compliance with all relevant regulations.

We monitor and update our security measures regularly. This ensures we are ahead of potential threats. Our platform is designed to adapt to changing regulations. With Cybrid's virtual accounts, you can confidently operate your crypto platform, knowing that risk management and compliance are expertly handled.

Why the Cybrid
FBO Model?

Embrace the advantages of Cybrid's Embedded Finance banking infrastructure. These include FBO Accounts connected to the Smart Order Router. This provides a streamlined onramp and offramp experience.

What are FBO accounts and how do they differ from traditional bank accounts?

FBO accounts are used to manage funds for another entity. This could include a user or client. These accounts are specialized for this purpose.

Crypto accounts are different from traditional bank accounts. They are designed to meet the specific needs of the crypto industry. They provide a secure and compliant way to manage digital assets.

Can I use Cybrid's Fiat FBO Accounts for both USD and CAD transactions?

Cybrid's Fiat FBO Accounts support both USD and CAD transactions. This provides a seamless and efficient experience for users dealing with these currencies.

How do Cybrid's Fiat FBO Accounts ensure compliance with money transmission licensing requirements?

Our Fiat FBO Accounts are designed to adhere to strict regulatory guidelines and state money transmission requirements. We continuously update our platform to comply with evolving regulations, ensuring the protection of your business and users.

What security measures does Cybrid employ to protect users' funds and data?

Cybrid's Fiat FBO Accounts incorporate stringent security measures and risk management protocols, safeguarding your users' funds and sensitive data. We continuously monitor and update our security measures to stay ahead of potential threats and maintain the highest level of security.

How do Cybrid's Fiat FBO Accounts integrate with the Smart Order Router?

Our Fiat FBO Accounts seamlessly integrate with the Smart Order Router, allowing smooth and efficient trading between fiat and cryptocurrencies. This integration ensures optimized execution and access to multiple liquidity providers.

What kind of support can I expect when using Cybrid's Fiat FBO Accounts?

Our team of experts are dedicated to helping you. They are always available to answer any questions or address any concerns you have about Fiat FBO Accounts. We are dedicated to offering exceptional support and constant updates. This ensures that your platform remains current with the most recent developments in digital finance and compliance.

Discover the Cybrid Fiat FBO Account