Migom Bank
Migom Bank
Migom Bank is a Private Bank and was acquired by Migom Global Corp[1] in June 2020.[2] Migom Bank presents itself as a global neobank, that includes cryptocurrency services, but is directly focused on offering a full suite of e-banking services to mid-sized businesses, individuals and companies in emerging markets.
Licences
- Migom Bank Ltd. is a private international bank regulated by the Financial Services Unit of the Ministry of Finance of the Commonwealth of Dominica.Licence №08082019 [3].
- E-wallets apps and other e-money services are facilitated by Migom Investments S.A, Luxembourg, EMD agent of London company Transactive Systems Ltd.EMD Agent registration with FCA, no. 902737
Services
Migom bank presents itself as a fully licensed global bank and as such is able to provide a variety of services. Services include standard bank accounts and online access to accounts, SWIFT/SEPA money transfers and IBAN accounts for EU customers.
The bank promotes streamlined on-boarding, enabled by its own compliance department, managed by banking experts in Vienna, Austria. Customers access services via the bank's mobile application, which has all the necessary functionality expected of a bank. For private banking customers, enhanced services are available beyond cryptocurrency to fiat and fiat to cryptocurrency exchange, and this service extends to over the counter (OTC) transactions for larger trades. The bank offers a BTC (Bitcoin) bank account to all customers[4] and has a closed-loop payment system that accepts payments through QR codes.[5]
Controversies
Migom Bank is licensed in Dominica and in February 2021 Dominica was added to the EU list of uncooperative tax jurisdictions. Dominica was included because the island still does not completely comply with international standards.
“Dominica has been included in the EU list as it received a ‘partially compliant’ rating from the Global Forum [for Transparency and Exchange of Information] and has not yet resolved this issue,” the Council of the EU said in a statement.[6]
External Company Links
- https://migom.us/ Official Site, Migom Investments S.A
- https://migom.com/ Official Site, Migom Bank
- https://migomglobal.com/ Official Site, Migom Global Ltd
References
- ↑ "Migom Global Corp. Announces the Acquisition of Migom Bank". Bloomberg.com. 2020-06-29. Retrieved 2021-04-09.
- ↑ "SEC filing For Migom Global Corp". Securities Exchange Commission. 2020-12-01. Retrieved 2021-04-09. Unknown parameter
|url-status=ignored (help) - ↑ "Banking Licence". Government of Dominica. 2020-06-01. Archived from the original on 2020-08-13. Retrieved 2020-08-04. Unknown parameter
|url-status=ignored (help) - ↑ "Migom Bank celebrates birthday of BTC Bank Account". Bloomberg. 2021-03-23. Retrieved 2021-04-09.
- ↑ "Migom Bank launches close-loop payments". Yahoo. 2021-03-24. Retrieved 2021-04-09 – via https://finance.yahoo.com/. Unknown parameter
|url-status=ignored (help) - ↑ "Dominica Replaces Barbados on EU Blacklist". https://www.caribbeannationalweekly.com. 2021-02-26. Retrieved 2021-04-09. Unknown parameter
|url-status=ignored (help); External link in|website=(help)
References
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