Onboarding & Request
Client requests activation (if applicable) and completes required onboarding.
Payment Services
Digital Currency
Digital currency classification subject to policy, jurisdiction, and compliance.
Digital Currency refers to decentralized or entity-issued digital currencies. Availability is subject to bank policy, jurisdiction, and counterparty acceptance.
- KYC / AML
- Sanctions Screening
- Risk-Based Approval
About This Service
Digital Currency
Access institutional-grade digital currency services through Prominence Bank — fully regulated, rigorously compliant, and designed for sophisticated clients seeking bank-backed exposure to digital assets within a secure, monitored framework.
Available exclusively to Prominence Bank account holders, this service is delivered with institutional-grade compliance, full documentation, and dedicated relationship management support.
How It Works
Risk Validation
Bank validates jurisdictional eligibility and risk profile.
Secure Execution
Transfers are initiated through approved rails and recorded with audit logs.
Continuous Monitoring
Ongoing monitoring and periodic review apply.
Typical Use Cases
Digital Settlements
Eligible digital settlement use cases.
Treasury Diversification
Treasury diversification workflows (where permitted).
Custom Digital Rails
Client-specific digital rails subject to approval.
Requirements
Eligibility & Compliance
- All activities are strictly governed by global compliance standards.
- Mandatory KYC/AML and comprehensive sanctions screening apply to every user.
- Required validation of source of funds and source of wealth where applicable.
- Continuous monitoring of all transactions to ensure security and integrity.
- Every operation is subject to final risk assessment and formal approval.
Frequently Asked Questions
Find answers to the most common questions about our Digital Currency service.
01 What does “Digital Currency” mean in your services catalogue?
Answer: In our catalogue, digital currency refers to decentralized or entity-issued currencies. Our digital asset services allow for these assets to be managed under strict bank policy and jurisdiction, ensuring a secure framework for all blockchain payments.
02 Can I send or receive digital currency through Prominence Bank?
Answer: Availability for digital currency transfers depends on jurisdiction, risk review, and internal policy. Access to our cryptocurrency banking features is granted to eligible account holders only, facilitating secure stablecoin transfers where supported.
03 What compliance checks apply to digital currency activity?
Answer: Rigorous crypto compliance protocols, including KYC/AML and sanctions screening, are mandatory. We also perform source of funds/wealth validation and ongoing monitoring for all digital currency transfers and blockchain payments.
04 Will the bank ask for proof of source of funds?
Answer: Yes. For higher-risk or higher-value stablecoin transfers, supporting documentation is required. This is a key part of our crypto compliance framework to ensure all digital currency transfers are fully transparent.
05 Are digital currency transfers reversible?
Answer: Depending on the rail, blockchain payments may be irreversible once confirmed. We advise all clients using our cryptocurrency banking services to verify recipient addresses carefully before executing any digital currency transfers.
06 Are there limits on digital currency transfers?
Answer: Yes. Limits apply to stablecoin transfers and other assets based on client profile, jurisdiction, and risk appetite. Our digital asset services ensure that all cryptocurrency banking activities remain within safe institutional thresholds.
07 Can digital currency be used to bypass compliance?
Answer: No. Under our crypto compliance framework, we may decline or restrict any digital currency transfers at our discretion. We operate a compliance-led model to prevent the misuse of blockchain payments.
08 Do you provide statements and records?
Answer: Yes. All cryptocurrency banking activity is recorded and reflected in statements. Our digital asset services include detailed audit trails for every digital currency transfer to ensure easy reconciliation.
Become an Account Holder to Access This Service
Become an account holder to access this service and more. Open an account online or contact Prominence Bank for an eligibility review.
Need assistance? Call us on +44 20 8895 6493 or contact us online.