If your main activity is related to crypto assets, and in particular if your corporate purpose is:
Custody or access to crypto assets;
Buying/selling crypto assets against fiat currency;
Exchanging crypto assets for other crypto assets;
Operating a crypto asset trading platform
then you can open a Qonto account for your corporate expenses (for example, payroll payments, invoice payments, etc.).
⚠️ On the other hand, you cannot use your Qonto account to collect funds on behalf of third parties for activities related to your clients’ buying/selling of crypto assets and/or to operate platforms.
If you are a relevant intermediary, you can open a Qonto account as long as you are registered or licensed with the Bank of Spain or the National Securities Market Commission to carry out your activities under local law.
Examples of relevant intermediaries:
Exchange between virtual currencies and fiat currencies
Electronic wallet
Token trading platforms
ICO projects
Virtual currency or crypto asset trading platforms
Advertising about crypto assets
Lastly, two important notes:
Customers whose main activity is investment advisory in crypto assets or blockchain can also open a Qonto account as long as they are registered with the Bank of Portugal.
Not all activities related to digital assets are permitted, and Qonto will conduct an assessment on a case-by-case basis when entering into a business relationship. Activities involving mining, NFTs, metaverse, blockchain, etc. are not authorized.