Digital Currency

Digital currency classification subject to policy, jurisdiction, and compliance.

Digital Currency refers to decentralized or entity-issued digital currencies.
Availability is subject to bank policy, jurisdiction, and counterparty acceptance.

About This Service

Digital Currency

Access institutional-grade digital currency services through Prominence Bank — fully regulated, rigorously compliant, and designed for sophisticated clients seeking bank-backed exposure to digital assets within a secure, monitored framework.

Available exclusively to Prominence Bank account holders, this service is delivered with institutional-grade compliance, full documentation, and dedicated relationship management support.

Key Benefits

Supports eligible digital workflows where permitted

Audit-focused controls and monitoring within the bank framework

Potentially faster settlement for certain digital rails

Step by Step

How It Works

1 Onboarding & Request

Client requests activation (if applicable) and completes required onboarding

2 Risk Validation

Bank validates jurisdictional eligibility and risk profile.

3 Secure Execution

Transfers are initiated through approved rails and recorded with audit logs

4 Continuous Monitoring

Ongoing monitoring and periodic review apply.

Real-World Applications

Typical Use Cases

Digital Settlements

Eligible digital settlement use cases.

Treasury Diversification

Treasury diversification workflows (where permitted).

Custom Digital Rails

Client-specific digital rails subject to approval.

Requirements

Eligibility & Compliance

All activities are strictly governed by global compliance standards.
Mandatory KYC/AML and comprehensive sanctions screening apply to every user.
Required validation of source of funds and source of wealth where applicable.
Continuous monitoring of all transactions to ensure security and integrity.
Every operation is subject to final risk assessment and formal approval.

Important Disclaimer

Service availability varies and is not offered based on brochure requests. Execution is case-by-case and subject to internal policy and risk appetite.

KYC/AML

Sanctions Screening

Risk-Based Approval

Bank Verification

Common Questions

Frequently Asked Questions

Find answers to the most common questions about our Digital Currency service.

Question: What does “Digital Currency” mean in your services catalogue?

Answer: In our catalogue, digital currency refers to decentralized or entity-issued currencies. Our digital asset services allow for these assets to be managed under strict bank policy and jurisdiction, ensuring a secure framework for all blockchain payments.

digital currency crypto stablecoins policy jurisdiction

Question: Can I send or receive digital currency through Prominence Bank?

Answer: Availability for digital currency transfers depends on jurisdiction, risk review, and internal policy. Access to our cryptocurrency banking features is granted to eligible account holders only, facilitating secure stablecoin transfers where supported.

crypto transfer eligibility jurisdiction risk review account holders

Question: What compliance checks apply to digital currency activity?

Answer: Rigorous crypto compliance protocols, including KYC/AML and sanctions screening, are mandatory. We also perform source of funds/wealth validation and ongoing monitoring for all digital currency transfers and blockchain payments.

KYC AML sanctions source of funds monitoring compliance

Question: Will the bank ask for proof of source of funds?

Answer: Yes. For higher-risk or higher-value stablecoin transfers, supporting documentation is required. This is a key part of our crypto compliance framework to ensure all digital currency transfers are fully transparent.

proof of funds source of wealth documentation transaction purpose EDD

Question: Are digital currency transfers reversible?

Answer: Depending on the rail, blockchain payments may be irreversible once confirmed. We advise all clients using our cryptocurrency banking services to verify recipient addresses carefully before executing any digital currency transfers.

irreversible blockchain confirmation recipient address finality transfer risk

Question: Are there limits on digital currency transfers?

Answer: Yes. Limits apply to stablecoin transfers and other assets based on client profile, jurisdiction, and risk appetite. Our digital asset services ensure that all cryptocurrency banking activities remain within safe institutional thresholds.

transfer limits risk appetite client profile jurisdiction thresholds

Question: Can digital currency be used to bypass compliance?

Answer: No. Under our crypto compliance framework, we may decline or restrict any digital currency transfers at our discretion. We operate a compliance-led model to prevent the misuse of blockchain payments.

AML sanctions compliance-led risk-based discretionary approval

Question: Do you provide statements and records?

Answer: Yes. All cryptocurrency banking activity is recorded and reflected in statements. Our digital asset services include detailed audit trails for every digital currency transfer to ensure easy reconciliation.

statements records reporting audit trail reconciliation

Become an Account Holder to Access This Service

Become an account holder to access this service and more. Open an account online or contact Prominence Bank for an eligibility review.

Need assistance? Call us on +44 20 8895 6493 or contact us online.