Crypto services
If your business mentions "crypto" on the website, most payment processors will offboard you on the first review. Even when you're not an exchange, not a custodian, not moving digital assets — just selling crypto education, tax software, mining hardware, wallet security hardware, or advisory services — you get swept into the "crypto = ban" bucket. multiflow underwrites crypto-adjacent services differently: we look at what you actually sell, who the customers are, and whether any MSB activity is involved.
Why operators in this space find us
Stripe, Square, and PayPal's risk systems flag "crypto," "Bitcoin," "Ethereum," "wallet" regardless of what the business actually does. A crypto tax software company gets offboarded the same week as an exchange. It's keyword matching, not underwriting.
Businesses that actually move crypto need MSB licensure. Businesses that don't move crypto shouldn't need it — but underwriting teams often assume the worst. Structural clarity on the regulatory line is key to approval.
Customer buys a course, the market crashes, they dispute. Not your fault, but you absorb the chargeback unless your refund policy + evidence workflow is tight.
Teaching people about crypto is different from advising them on specific investments. The SEC has been active here since 2023. Underwriting wants to see you're on the right side.
Operators in the crypto-adjacent space we regularly underwrite:
What we don't process: exchanges, custody services, stablecoin issuance, on-ramp/off-ramp services, ICOs, token sales, unregistered securities, mixing / tumbling services, OFAC-sanctioned jurisdictions.
The key distinction: are you moving value between parties, or are you selling a product/service for dollars with no crypto changing hands?
If a customer pays you $500 and receives course access, hardware, software, or advice — that's a standard card transaction. No MSB licensure needed, no FinCEN registration required. You're a regular merchant with a card processing relationship.
If a customer sends you crypto and receives dollars (or vice versa) — that's money transmission. MSB registration with FinCEN, state-by-state money transmitter licensure, BSA/AML program. Very different regulatory posture and not what multiflow underwrites.
In your application, be explicit about the transaction structure. Underwriters need to see clearly that you're on the product-for-dollars side, not the custody-or-transmission side.
Clean crypto-services applications typically route to specialty acquirers comfortable with the vertical. Approval timelines: 5-10 business days for straightforward operators, 2-4 weeks for operators with prior offboardings or novel business models.
Rates: 2.9-4.2% effective on flat-rate portions, with interchange-plus available above $100k/mo. Reserves: 5-10% rolling for first 6 months, reviewed down with clean history.
What speeds approval: (1) clear website describing what you sell (not vague "crypto empowerment"), (2) prior processing history from a different vertical, (3) personal or corporate guarantee on new accounts, (4) explicit refund policy, (5) defined customer support channel.
Keep reading
What acquirers actually look at beyond the keyword.
First 72 hours when you wake up to an offboard email.
Why Stripe's restricted list catches crypto-adjacent operators.
Overlapping vertical for crypto education providers.
Most operators are approved inside 48 hours. 12 questions, no hard-pull, no obligation.
Talk to an operator
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