Cryptocurrency businesses are subject to weaker regulatory controls globally, making them susceptible to illicit fund flows. Aspire's approach depends on the level of crypto involvement:
Direct - the business owns its own coin or operates an exchange. These are classified as Immediate High Risk and require Compliance approval before onboarding.
Indirect - the business has crypto clients, accepts crypto payments, or has UBOs/BOs involved in crypto. These can be onboarded subject to Enhanced Due Diligence.
None - no crypto connection. Standard onboarding applies.
Crypto-related transfers may be quarantined automatically for review. Crypto-related accounts are subject to biannual review.