Frequently asked questions

CheckSig Clear is a comprehensive solution designed to help financial institutions like banks, asset managers, and fintech companies add cryptocurrencies to their services. It's a secure and reliable platform that makes it simple to meet the growing demand for crypto while staying fully compliant with regulations.

Here's an analogy: when banks offer stock trading and accounts, they rely on industry providers for depositary services and market access. In the same way, CheckSig Clear acts as the infrastructure that enables banks to offer crypto trading and accounts to their customers. It provides everything needed—secure market access, custody services, a tax engine, data feeds, news, training, and more. With CheckSig Clear, banks can launch a smooth, efficient, and fully regulated crypto service with confidence.

CheckSig Clear offers clients a range of partnership options to provide crypto services to their customers. These options vary from straightforward agency arrangements (requiring no technological integration) to fully integrated white-label solutions using API-based technology.

• Agency / Business Introduction: In this model, the intermediary's client becomes a CheckSig client and directly uses CheckSig's Wallet to operate (learn more at checksig.com). This option is ideal for intermediaries seeking to provide their clients with a premium crypto experience without the complexities of system integration. It is a 'regulation-light' solution that can be activated within days, making it an excellent choice for piloting the service.
• Crypto Embedded: In this model, the intermediary's client also becomes a CheckSig client but operates without fully exiting the intermediary's system. Unlike a standard business introduction, this option offers a level of technological integration, allowing clients to access their crypto positions directly through the intermediary's website. This approach balances convenience for clients with a seamless user experience.
• White Label: CheckSig's platform is fully integrated into the intermediary's systems via APIs. In this model, the client maintains an exclusive relationship with the intermediary and does not become a CheckSig client. The client continues to operate through their usual channels, seamlessly benefiting from the new crypto service provided by their trusted intermediary. There is no visible indication of an external provider like CheckSig Clear, ensuring a consistent and unified brand experience.
• Crypto Desk: In this model, the intermediary operates on behalf of its clients using a dedicated dashboard to monitor and manage all transactions. This setup is ideal for intermediaries that do not provide their clients with a transactional front-end but instead handle orders received through traditional channels such as phone or email. It is particularly suited for institutions serving high-net-worth or institutional clients. Similar to the White Label model, the client maintains an exclusive relationship with the intermediary and does not need to become a CheckSig client.

CheckSig fully complies with the regulatory frameworks governing crypto-asset services in both Italy and Switzerland.

Italy and EU: CheckSig is registered as a Virtual Asset Services Provider (VASP) in the special section of the exchange office register maintained by the Organismo per la gestione degli elenchi degli Agenti in attività finanziaria e dei Mediatori creditizi (OAM), with registration number PSV4, effective from May 27, 2022. In anticipation of the Markets in Crypto-Assets (MiCA) Regulation, set to be fully implemented on June 30, 2025, CheckSig has proactively adopted measures to align with forthcoming EU requirements.

Switzerland: CheckSig is a member of the Verein zur Qualitätssicherung von Finanzdienstleistungen (VQF), a Self-Regulatory Organization officially recognized by the Swiss Financial Market Supervisory Authority (FINMA). As part of VQF, CheckSig undergoes regular independent audits to ensure adherence to Anti-Money Laundering (AML) policies and procedures.

The regulatory process that an intermediary must undergo to offer crypto services varies significantly depending on the type of partnership chosen with CheckSig.

Business introduction and Embedded Crypto: The intermediary is limited to promoting the CheckSig Clear offering to its clients without directly providing cryptocurrency services. In this scenario, no specific authorization is required to operate in crypto assets.

White label and Crypto Back Office: The intermediary directly offers cryptocurrency services to its clients, using CheckSig Clear as a technological enabler. In this scenario, it is necessary to obtain the MiCAR (Markets in Crypto Assets Regulation) authorization.

The technological integration phase with CheckSig Clear is completed rapidly, with an average of a few weeks. The integration, carried out via API, is influenced by variables such as the specific activity of the intermediary. This process is designed to minimize the operational impact on the bank, primarily requiring interventions in the user experience (UX/UI) area.

The implementation of CheckSig Clear, both in the configuration of business introduction and in that of full integration, allows intermediaries to offer crypto services without the need to develop specific technical skills. The technological and operational complexity is entirely managed by CheckSig Clear without burdening the intermediary, who is limited to managing the relationship with the customer.

Furthermore, CheckSig Clear provides training and research services, such as thematic workshops and periodic reports, to support the intermediary's staff.

CheckSig Clear offers intermediaries the chance to autonomously configure the service, selecting the functionalities and solutions that best suit their operational context. This modular structure allows the offer to be aligned with the specific needs of the clientele, guaranteeing a high degree of service customization.

The choice of the collaboration model also has an impact on customer management.

Business Introduction: The customer who wishes to operate in cryptocurrencies is required to open an account with CheckSig. This entails the management of two distinct customer relationships: one with the intermediary, the other with CheckSig Clear.

White label: The intermediary guarantees its customers a fluid and consistent user experience with its own brand, as all operations related to crypto assets will be managed exclusively through the intermediary's own channels, without any direct interaction with CheckSig Clear.

By opting for the CheckSig Clear solution, the intermediary is able to offer its clients the tax withholding agent service, delegating to CheckSig the management of the fiscal complexities related to cryptocurrency operations.

Thanks to access to accurate and up-to-date tax data, the intermediary can efficiently and completely fulfill its tax obligations, guaranteeing maximum transparency and regulatory compliance to its clients.

The choice of private keys management is highly customizable and is entirely at the intermediary's discretion. The intermediary can decide to entrust the custody of private keys entirely to CheckSig, opting for a fully delegated solution, or choose to maintain complete control by holding the keys independently. In addition to these solutions, hybrid configurations that combine aspects of both options are available.

CheckSig adopts a rigorous policy of asset segregation: clients' assets, in addition to being held in separate accounts, are legally distinct from the company's assets. This precautionary measure ensures that, even in adverse scenarios, clients' funds always remain protected and are not exposed to risks related to the company's solvency.

All services provided by CheckSig, from custody to market access to staking, are protected by insurance coverage provided by AAA-rated operators. In the event of any adverse event, clients can rely on adequate insurance coverage to protect the value of their investments. Insurance coverage is highly customizable and can be adapted to the specific needs of the intermediary and the type of services offered.

The cost of the service is variable and depends on the specific type of service provided.

For Business Introduction and Crypto Embedded models, CheckSig charges fees to the end client and offers a rebate to the introducer.

In the White Label and Crypto Back Office models, a pay-per-use structure is in place, with fees based on trading volume and assets under custody. There are no minimum fees or setup costs.