FAQ

CheckSig Clear is a comprehensive solution designed to support financial institutions such as banks, wealth managers, and fintechs in integrating crypto assets into their service offerings. It is a secure and reliable platform that simplifies access to the crypto world while ensuring full regulatory compliance.

A useful analogy: when banks offer stock accounts and trading services, they rely on specialized providers for custody and market access. Similarly, CheckSig Clear acts as an infrastructure enabling banks to offer their clients crypto accounts and trading. It provides everything needed: secure market access, custody, tax engine, market data, news, training, and more. With CheckSig Clear, banks can launch efficient, fully regulated crypto services guaranteed by maximum security.

CheckSig Clear offers different collaboration options to allow financial intermediaries to provide crypto services to their clients. The options range from simple business introduction agreements (without technological integration) to fully integrated white-label solutions via API.

• Business Introduction: In this model, the intermediary’s client becomes a CheckSig client and uses a CheckSig account directly (more information at checksig.com). It is the ideal solution for those who want to offer a high-level crypto experience without facing integration complexities. It is a 'light' regulatory option that can be activated in a few days.
• Crypto Embedded: The intermediary’s client becomes a CheckSig client but continues to operate within the intermediary’s system. Compared to Business Introduction, this option requires technological integration that allows the client to view and manage their crypto positions directly from the intermediary’s website. This model combines convenience and continuity in the user experience.
• White Label: CheckSig Clear fully integrates into the intermediary’s systems via API. The institution maintains an exclusive relationship with the client, who never interacts directly with CheckSig nor is aware of its presence in the back-end. All operations are conducted through the usual channels, offering a completely invisible crypto service perfectly consistent with the intermediary’s brand identity.
• Crypto Desk: The intermediary manages operations directly on behalf of its clients, using a dedicated dashboard to monitor and handle transactions. It is ideal for entities operating via traditional channels (phone, email) and not offering a digital interface to end clients. Perfect for institutional or high-net-worth clients, this model allows the intermediary to maintain an exclusive relationship throughout the entire operational process.

CheckSig is fully compliant with the regulatory frameworks governing digital 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 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 upcoming Markets in Crypto-Assets Regulation (MiCA), CheckSig has proactively adopted measures to align with future 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 a VQF member, CheckSig undergoes regular independent audits to ensure compliance with anti-money laundering regulations.

The regulatory path that an intermediary must follow to offer crypto services varies significantly depending on the partnership model chosen with CheckSig.

Business Introduction and Embedded Crypto: In these models, the intermediary simply promotes CheckSig’s offering to its clients without directly providing crypto services. In this case, no specific authorization is required to operate with crypto-related activities.

White Label and Crypto Desk: In these models, the intermediary directly provides crypto services to its clients, leveraging CheckSig Clear as the enabling technology platform. In this case, it is mandatory to obtain authorization under the MiCAR (Markets in Crypto-Assets Regulation).

The technological integration phase with CheckSig Clear is completed quickly, averaging a few weeks. Integration, performed via API, depends on variables such as the intermediary’s specific activity. The process is designed to minimize the operational impact on the bank, primarily requiring interventions in the user experience (UX/UI) area.

Implementing CheckSig Clear, both in the pre-sale referral configuration and in 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 focuses solely on managing the client relationship.

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

CheckSig Clear allows intermediaries to autonomously configure the service, selecting the features and solutions best suited to their operational context. This modular structure enables the offering to be aligned with the specific needs of the clientele, ensuring a high degree of service customization.

The choice of collaboration model also impacts client management.

Business Introduction and Embedded Crypto: The client wishing to operate in crypto assets is required to open an account directly with CheckSig. This creates a second relationship dedicated specifically to the crypto world alongside the existing relationship with the intermediary.

White Label and Crypto Desk: The intermediary guarantees its clients a smooth user experience consistent with its own brand, as all crypto-related operations are handled exclusively through the intermediary’s channels, without any direct interaction with CheckSig Clear.

In the White Label and Crypto Desk models, CheckSig Clear provides the intermediary with updated calculations and all necessary information to ensure tax compliance. Since the direct relationship with the client lies with the intermediary, CheckSig does not provide the service directly but only supplies the data to the intermediary, who manages and communicates it without additional operational burdens. This model ensures that the client relationship always remains with the intermediary, guaranteeing an efficient and personalized service.

The management of private keys is fully customizable and remains at the sole discretion of the intermediary. The intermediary can choose to entrust the custody of private keys entirely to CheckSig, opting for a fully delegated solution, or maintain complete control by holding the keys independently. Hybrid configurations combining elements of both options are also available.

CheckSig adopts a strict asset segregation policy: client assets are not only held in separate accounts but are also legally distinct from the company’s assets. This precaution ensures that even in cases of corporate distress, clients’ funds remain protected and are not exposed to risks related to the company’s solvency.

All services provided by CheckSig, from custody to market access and staking, are covered by insurance policies underwritten with an AA-rated operator. In the event of adverse events, clients can rely on coverage sufficient to protect the value of their investments. The insurance coverage is highly customizable and can be tailored to the intermediary’s specific needs and the types of services offered.

The cost of the service varies depending on the specific type of service offered.

For Business Introduction and Crypto Embedded models, CheckSig applies its pricing policy directly to the client, with whom it has established a direct relationship, without any cost to the intermediary.

In the White Label and Crypto Desk models, pricing is based on a pay-per-use system, with fees calculated according to trading volume and assets under custody. No minimum fees or setup costs apply.