Opening a Safeguarding Account for EMIs, PIs, and CASPs in Europe, Asia, and the Americas

Obtaining a payment institution (PI), electronic money issuer (EMI), or cryptocurrency service provider (CASP) license requires a robust mechanism for protecting client funds.

A safeguarding account is a bank account where client funds are kept separate from the company's funds and used exclusively for the benefit of users.
Having such an account is a mandatory regulatory requirement in most jurisdictions, from the EU and the UK to Singapore and the US.

Regulatory Requirements: Europe, Asia, America Europe (EU, UK)
A safeguarding account is mandatory under PSD2 and EMD2 for PIs and EMIs, as well as MiCA requirements for CASPs. Regulators (FCA, BaFin, MFSA, CNMV, etc.) require:
· fund segregation;
· daily reporting;
· implementation of safeguarding risk management procedures;
· selection of an authorized banking partner.

Asia (Singapore, Hong Kong, UAE)
MAS (Singapore), DFSA and VARA (UAE), and SFC (Hong Kong) impose strict licensing requirements on EMIs and crypto companies. Specifically:
· mandatory presence of a dedicated client account with a bank or trust institution;
· demonstration of full transparency of sources of funds and KYC/AML procedures.

North and Latin America (USA, Canada, Brazil, Mexico)
In the US, MSB/MTL, EMIs, and crypto platforms are required to:
· keep client funds in segregated custodial accounts;
· comply with the requirements of FinCEN, the SEC, and state regulators (NYDFS, etc.);
· have an agreement with a reputable bank or custodian.
Canada (FINTRAC) and Latin American countries (Brazil - Bacen, Mexico - CNBV) also have strict rules regarding segregated custody of client funds and mandatory compliance reporting.

Problems faced by PIs, EMIs, and CASPs worldwide
· ❌ Banks' refusal to work with fintech and crypto
· Banks in many jurisdictions refuse to open Safeguarding accounts to new players, especially those working with digital assets.
· ⏳ Long review periods and bureaucracy
· The procedure can take from 3 to 9 months, especially if the documents are incomplete or incorrect.
· 📑 High documentation and compliance requirements
· Detailed policies, a description of the custody model, a security structure, a business plan, a risk-based approach, etc. are required.

What we offer: Turnkey Safeguarding accounts in the EU, Asia, and America
With our help, you can open a Safeguarding account faster and with minimal risk. We work with licensed banks and payment institutions in more than 15 countries.
Our services include:
✅ Selecting a suitable bank in the desired jurisdiction
EU, UK, Switzerland, Singapore, UAE, US, Canada, Brazil, etc.
✅ Preparing all necessary documents
Business plan, Safeguarding procedure, AML/CTF policies, asset segregation model, and platform architecture description.
✅ Negotiation and application support
Including initial contact, responding to bank inquiries, negotiating contract terms, and preparing the offer.
✅ Regulatory approval of the model
We assist with pre-approval of the custody structure and settlement partner when applying for a license.

Why choose us
🌍 Global coverage: Europe, Asia, North and Latin America
🧠 In-depth expertise: PSD2, EMD2, MiCA, MSB, FinCEN, MAS, DFSA
🤝 Access to banks, custodians, and payment systems
📈 Real-world cases – from startups to international platforms

Don't let banking restrictions slow down your market entry.
With us, opening a Safeguarding account is not a hassle, but a strategic step toward launching and scaling your fintech or crypto business.
Contact us for an initial consultation – we'll tell you where to start and how to get started with a ready-made account without unnecessary delays.

Leave a request and our specialists will contact you as soon as possible.