White Label “Crypto Wallet” lvl.1 is a basic cryptocurrency wallet package designed for startups, small businesses, and those just starting out in the cryptocurrency space. This package allows you to launch a platform with minimal investment, while providing a foundation for future expansion. This solution is ideal for those who want to offer their customers a cryptocurrency wallet for storing digital assets while complying with legal requirements and security standards.
A license is the basis for the legal operation of a cryptocurrency wallet. At level lvl.1, a basic license is provided that covers basic cryptocurrency operations, such as storing cryptocurrencies, receiving and sending digital assets between users. This license is valid in a certain jurisdiction and can be used to operate in a selected country or region.
Advantages: Legalization of activities within the framework of the legislation of the chosen jurisdiction, which allows avoiding legal risks and ensuring trust on the part of users.
Restrictions: The lvl.1 package does not allow exchange operations between cryptocurrencies or with fiat money, as this functionality is provided only in higher levels.
The inclusion of a compliance specialist (AML officer) is a mandatory element for compliance with anti-money laundering legislation. The AML officer monitors suspicious transactions and ensures compliance with all necessary requirements and standards aimed at combating money laundering and terrorist financing.
AML Officer Responsibilities:
Handling suspicious transactions.
Preparation and submission of reports to the relevant regulatory authorities.
Developing and implementing policies and procedures to prevent money laundering.
Advantages: Ensures compliance with international standards and requirements, increases user trust and protects the platform from legal consequences.
The lvl.1 package provides the service of appointing a company director. This is a specialist who helps to organize a legal entity, is responsible for the official registration of the company and represents its interests in government agencies. He also manages the company at the initial stage, including the preparation of all legal documents and reporting.
Advantages: Ensures compliance with all legal norms and requirements in the jurisdiction, simplifies the process of registering a company and its further functioning.
Responsibilities: The director will provide legal support to the business and ensure that the company operates within the law.
For the lvl.1 level, basic software is provided that allows users to store their cryptocurrencies in a secure environment. This software is suitable for working with major cryptocurrencies such as Bitcoin, Ethereum, and other popular assets. The wallet has a minimalist but functional interface.
Software functions:
Storing cryptocurrencies.
Simple and secure interface for transferring funds.
Exchange of cryptocurrency between platform users.
Advantages: Ease of use and quick launch of a cryptocurrency platform without the need to develop your own software from scratch.
Quick Start: The lvl.1 package allows you to launch a cryptocurrency wallet quickly and without unnecessary costs, providing the platform with minimal functionality for storing and transferring cryptocurrency.
Minimum costs: With this package you get everything you need to get started, but without the extra features, allowing you to save a lot of money at the initial stage.
Legal protection: With the included license and AML officer, your operations will be compliant with legal requirements, increasing customer confidence.
Limited functionality: This package does not include more complex features such as cryptocurrency exchange support or fiat currency support.
Little scope for scaling: At the initial stage, you will not be able to integrate complex additional services or conduct more complex cryptocurrency transactions.
Small scale: The package is designed for small businesses and startups that do not require complex infrastructure at the first stage.
Basic technical and legal knowledge: You will need to ensure that your platform meets local requirements as well as minimum security requirements.
Minimum resources to get started: You don't need a large infrastructure, but you will need a dedicated server and cloud security solutions to get it working properly.
Company registration: You choose a jurisdiction to operate in and begin the company registration process.
Obtaining a license: The package includes all the necessary legal steps to obtain a cryptocurrency license, allowing you to operate within the law.
AML officer: The specialist will monitor compliance with all anti-money laundering regulations and standards.
Setting up a wallet: You get ready-made software for working with cryptocurrencies, which can be customized to suit the needs of your business.
Launch: Once set up and registered, you will be able to offer your users a platform for storing and transferring cryptocurrencies.
For startups: lvl.1 is ideal for those who are just starting out in the crypto space and want to offer users basic cryptocurrency storage services.
For small businesses: This package is great for small crypto projects that do not plan to exchange cryptocurrencies or work with fiat money at the initial stage.
