Business Customers

Overview

Ibanera business accounts are intended for customers that wish to manage their funds as an organisation. Each business registered with Ibanera has a main account holder, who is responsible for managing other customer users within their organisation, and providing business documents for KYB verification.

The main account holder has full privileges to:

• View the business’s asset accounts

• Manage the business’s top-up cards

• Use the crypto OTC desk

• Buy crypto using credit/debit cards

Other customers within the business that are not the main account holder will have a subset of these privileges, as determined when they are added by the main account holder.

Asset Management

Business customers, akin to personal customers, can operate a funding subledger account on the Ibanera platform. Funds deposited in these accounts are primarily designated for conversion into crypto funds, rather than being stored as fiat.

FBO Account Option

A distinct feature for business customers is the option to maintain a pooled subledger account, commonly known as an FBO (For Benefit Of) account. This account represents a segment of a unified subledger account within Ibanera. The funds within an FBO account are internally distributed among the various businesses on the platform, each identified by a unique reference for their specific partition.

Utilization of FBO Accounts

Businesses can leverage the funds in their FBO accounts for purchasing crypto assets via the OTC desk or executing payments to trusted payees. Essential details of the FBO account, including the reference for the business's pooled account, are accessible to business customers. This reference is critical for accurate allocation of funds to the respective business during bank transfers between the FBO account and external bank accounts.

Top-Up Cards and OTC Desk Access

Subject to certain privileges, business customer users can add top-up cards to their business account, generating a funding subledger account for each card. Furthermore, these users, if authorized, can engage with the OTC desk for buying, selling, or depositing crypto assets into the business's Ibanera wallets.

Crypto Wallet Management and Purchases

With the appropriate permissions, business customer users can view and manage each crypto wallet associated with the business, including the ability to initiate withdrawals to external wallets. Additionally, there is a provision for these users to purchase crypto assets directly using credit or debit card payments, provided they have the necessary authorization from the main account holder.