New Platform To Allow Buying Offshore Companies For Cryptocurrencies
The company that developed the Citowise crypto wallet intends to launch the business platform Citowise Corporate, through which it will be possible to legally formalize the purchase of companies abroad for cryptocurrencies, as reported on the startup's blog.
Citowise offers a choice of four countries, the most popular for doing business from abroad. In fact, the new platform allows buying or registering an offshore company in the UK, Ireland, Cyprus, or the Marshall Islands.
Developers call time efficiency the main advantage of Citowise Corporate, there is no need to fly to another country, because it is possible to get all the documents and complete the registration process online. Moreover, customers will be able to open immediately an account at a bank that is loyal to digital currencies for free.
It is expected that the purchase of a business abroad will be completely legal. To do this, the client needs to confirm his identity and pass the verification through the KYC procedure, after which he will receive documents to fill in sent to his address. It is required to book the desired company and pay for booking in cryptocurrency in advance.
The platform will start working in 2019. The Citowise team also plans to expand the list of countries to 30.
The Citowise wallet is primarily aimed at working with cryptocurrencies. Over the past few months, the app has added support for the USDC and TUSD stablecoins. Besides, developers added the option of buying bitcoin and ether using Visa/MasterCard and American Express in the summer of 2018.
Earlier, an American startup presented the smallest crypto wallet.