Establish relationship with card provider (Visa)

[ubiquibot[bot]]

Releasing the bounty back to dev pool because the allocated duration already ended!

[0x4007]

You should've answered the bot more promptly - seems like its mad at you.

[0x4007]

/assign

[ubiquibot[bot]]

@pavlovcik The time limit for this bounty is on Mon, 22 May 2023 01:05:03 GMT

Your currently set address is: 0xefC0e701A824943b469a694aC564Aa1efF7Ab7dd please use /wallet 0x4FDE...BA18 if you want to update it.

[ubiquibot[bot]]

Releasing the bounty back to dev pool because the allocated duration already ended!

[sergfeldman]

Airwallex

Apologies for the slight delay in response. I was waiting on my KYC Onboarding Team to look into your business and reason for using Airwallex - to see if it would be ok. Your use case is definitely fine, there's just some scrutiny when it comes to onboarding web3 adjacent companies. Considering you're going to use the platform just for cards though, it should be ok.

Airwallex positive and negative reviews https://github.com/ubiquity/ubiquity-dollar/discussions/307#discussioncomment-5909124

API documentation https://www.airwallex.com/docs/api#/Introduction

[sergfeldman]

Aspire

For crypto related entities, we can only offer USD account. For non-crypto company registered in Singapore, we can offer borderless visa cards.

[sergfeldman]

I wrote inquiries to 6 new card issuers. So far, no new response has been received.

Next, I will contact banks directly located in the British Virgin Islands.

[sergfeldman]

Airwallex

Apologies for the slight delay in response. I was waiting on my KYC Onboarding Team to look into your business and reason for using Airwallex - to see if it would be ok. Your use case is definitely fine, there's just some scrutiny when it comes to onboarding web3 adjacent companies. Considering you're going to use the platform just for cards though, it should be ok.

Airwallex positive and negative reviews ubiquity/ubiquity-dollar#307 (comment)

API documentation https://www.airwallex.com/docs/api#/Introduction

After analyzing our case, Airwallex decided to refuse cooperation specifically in card issuing. The official reason is the registration in the British Virgin Islands.

Some facts to better understand their logic:

• They waited for the KYC Onboarding Team to look into our case.
• They mention some scrutiny when it comes to onboarding Web3-related companies.
• They stated that requirements for opening a business account without issuing cards are lower.

[sergfeldman]

I contacted via emails all the known banks in British Virgin Islands https://thebanks.eu/banks-by-country/British-Virgin-Islands#operating_banks

https://nationalbank.vg/ https://www.cibcfcib.com/ https://vg.vpbank.com/ https://www.popular.vi/contact-us/ https://republicbankbvi.com/ https://www.1firstbank.com/vi/ https://www.bankasia.com/

[sergfeldman]

After conversation with Unlimint:

They are ready to proceed with our case, but only able to provide Banking as a Service to businesses and individuals registered within the EEA.

[0x4007]

to businesses

Can we make a "Ubiquity Europe" business and then issue to employees?

[sergfeldman]

Can we make a "Ubiquity Europe" business and then issue to employees?

Sure, we can! After the MiCA legislation in 2024, the European Union will be one of the well-regulated crypto jurisdictions that simplifies the cooperation on card issuing.

At the same time, the operational activity of this business entity will be partially limited by the European Economic Area. Of course, we will be able to serve companies from any country except sanctioned. For corporate card issuing, the employees in the majority of cases should have established business relationships with this business entity (employee, contractor, etc)

For the consumer (not corporate) cards, a business entity registered in the European Economic Area can issue cards for the European Economic Area.

You can see this on the Gnosis Cards example - they will launch in the European Economic Area first, then gradually expand in other countries https://gnosispay.com/#how-it-works

Each jurisdiction requires its BIN sponsors, KYC process, etc, which is why the "traditional" way of global card issuance is hard.

[0x4007]

The image says needs to be a resident unfortunately that doesn't work for me

[0x4007]

/query @sergfeldman

[ubiquibot[bot]]

Property	Value
Wallet	0x16B2433b9CF5FF87dE03dDaEea627C9106Ee117a

[ubiquibot[bot]]

! action has an uncaught error

[ubiquibot[bot]]

+ Evaluating results. Please wait...

[ubiquibot[bot]]

! action has an uncaught error

[0x4007]

+ Evaluating results. Please wait...

https://github.com/ubiquibot/comment-incentives/actions/runs/7694293618/job/20964796364 @wannacfuture 404 for private repository.

[ubiquibot[bot]]

! action has an uncaught error