What should businesses expect from white label crypto wallet service providers ?
EmilyWilliam
Posts: 3
We are entering a new era of regulation. Businesses looking for white label crypto wallet services will now face a challenge similar to that of early Internet companies twenty years ago - what will make the survivors of today different than those that will be forgotten? The answer, as it was then, is readiness, and in this case, it is regulatory readiness.
In the upcoming years, not only will enterprises need a wallet provider that helps them move tokens, but they will also seek partners who can help them move tokens legally.
The first requirement should be effective implementation of compliance systems, meaning that KYC, AML, and audit logs are integrated into the product from the ground up and not just bolted on later.
Next is proof-of-reserve and reporting. A reputable wallet provider will match all the compliance standards easily and align with the various sets of rules under both regulations.
Then comes risk management and operational resilience. MiCA asks you to comply with the Digital Operational Resilience Act (DORA), which took effect in January 2025. On the other hand, the GENIUS Act states that all permitted issuers are required to comply with the Bank Secrecy Act and conduct continuous, ongoing sanctions screening.
Your wallet solution provider must be capable of providing two different pathways simultaneously for fulfilling the standards for MiCA and the GENIUS Act. Businesses that address both markets require digital wallets with distinct compliance processes or, in some cases, separate legal entities altogether.
In the upcoming years, not only will enterprises need a wallet provider that helps them move tokens, but they will also seek partners who can help them move tokens legally.
The first requirement should be effective implementation of compliance systems, meaning that KYC, AML, and audit logs are integrated into the product from the ground up and not just bolted on later.
Next is proof-of-reserve and reporting. A reputable wallet provider will match all the compliance standards easily and align with the various sets of rules under both regulations.
Then comes risk management and operational resilience. MiCA asks you to comply with the Digital Operational Resilience Act (DORA), which took effect in January 2025. On the other hand, the GENIUS Act states that all permitted issuers are required to comply with the Bank Secrecy Act and conduct continuous, ongoing sanctions screening.
Your wallet solution provider must be capable of providing two different pathways simultaneously for fulfilling the standards for MiCA and the GENIUS Act. Businesses that address both markets require digital wallets with distinct compliance processes or, in some cases, separate legal entities altogether.
Share this post
Naijanetwork Forum Statistics
Threads: 32418,
Posts: 39074,
Members: 13959