Proxima Eight FZE LLC
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
Business Centre, Sharjah Publishing City Free Zone, Sharjah, United Arab Emirates
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How an Offshore Crypto OTC & Prop Trading Firm Onboarded with EQIBank
Establishing reliable banking access for offshore crypto trading entities remains one of the biggest hurdles for firms operating globally. In this case, we supported a Cayman-registered crypto dealer with its own OTC and prop desk to successfully open an account with EQIBank, gaining access to custodial tools, international wires, and digital banking infrastructure.
UAE
9+ Years of Compliance Expertise
Project Based Delivery
Saudi Arabia
Oman
Bahrain
End-to-End Execution
Hands-on Partnership
Speed + Accuracy
Europe
The client was a Cayman-based entity holding a crypto dealer license, operating both proprietary and OTC trading models. Challenges included:
- Offshore structure often flagged by compliance teams
- Combined OTC + prop use-case required tailored banking logic
- Lack of prior relationships with institutional banks
- Need for access to crypto-friendly infrastructure, including custody and virtual card issuance
- Regulatory concerns over international transaction exposure
Our Solution
We positioned the firm as an institutional-grade operator with defined use-cases and full compliance controls:
-
Mapped the dual activity model (OTC + prop) with transaction flows and custody policy -
Presented licensing documentation and internal control procedures -
Clarified separation of proprietary and client funds (no custody of third-party assets) -
Prepared a use-case framework aligned with EQIBank’s crypto policy -
Engaged with EQIBank’s crypto onboarding gateway and risk team for case navigation
The Result
- Business account opened with EQIBank
- Access granted to:
- Crypto custody tools
- International wire transfers
- Virtual cards and account management portal
- Enabled cross-border OTC settlement and operational fiat layer
- Timeline: 6 weeks from initial submission to full approval
Why This Case Is Important
This case proves that offshore crypto firms with proper licensing and controls can still secure institutional banking — especially when the use-case is well-structured.
EQIBank remains one of the few international banks actively onboarding crypto businesses beyond the EU and UAE.
EQIBank remains one of the few international banks actively onboarding crypto businesses beyond the EU and UAE.
Why AML Zone?
- Deep crypto compliance expertise→ Our core team consists of experts in AML, CTF, and virtual asset regulation, with years of crypto-specific legal and operational experience.
- Experience with real VARA cases→ We’ve successfully guided VASPs through real MVP and FMP license applications — with practical insights into what VARA expects.
- Clear pricing and deadlines→ Fixed project-based fees, clear deliverables at each step, and realistic timelines for each licensing phase.
- Local + global understanding→ We combine knowledge of UAE and VARA frameworks with global best practices (EU, UK, Cayman, BVI, Estonia, Lithuania)
- End-to-end service→ From preparing your IDQ, risk matrix, and AML manual to structuring your Board and hiring a qualified MLRO — we handle it all.
- Multilingual subtitles
→ Documentation and communication available in English, Russian, and Arabic — seamless support across cultures.
Frequently Asked Questions
Yes, if properly licensed and transparent in their operations.
Yes, through its institutional crypto banking gateway and case-by-case onboarding.
Cayman, BVI, Panama, and other compliant offshore structures with strong documentation.
Custody tools, fiat access, wire transfers, cards, and compliance support for crypto entities.
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