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