Financial services
Forex and digital assets merchant accounts
Commonly assigned MCC
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The category actually assigned is set by the acquirer at boarding and can differ from these.
The short version
For any business converting or transmitting value, the merchant account is downstream of the licensing. FinCEN registration, state money transmitter licences where applicable, and a documented AML programme are the file. Without them there is no conversation.
With them, the remaining risk is disputes on funded accounts and the irreversibility of what the customer receives — which is why card acceptance in this vertical usually sits alongside ACH and wire rather than replacing them.
What is actually being priced
What underwriting is looking at.
Registration and licensure
FinCEN MSB registration and, depending on model, state money transmitter licences are prerequisites rather than strengths.
Irreversible delivery
Once value is transmitted it cannot be recalled, so a successful dispute is a straight loss and reserves are priced accordingly.
KYC quality is the account
Underwriting reviews your identity verification vendor and thresholds as closely as your financials.
What we put in place
- Placement with acquirers and banks writing regulated MSB activity
- Card funding alongside ACH and wire on one reporting surface
- Fraud rules tuned for account-funding patterns rather than retail
- Reserve structures negotiated against your KYC quality and history
What underwriting will ask you for
Assemble these before you apply anywhere. The list does not get shorter by waiting, and having it ready is the single biggest thing you control about how long this takes.
- FinCEN registration and any state licences
- Your written AML and KYC programme, with vendor names
- Funding flows and average transaction size
- Audited or reviewed financials
On this account
What a boarded account in this vertical usually carries.
Also in financial services
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