All Collections
Getting Started
Is my business considered a "currency exchange"?
Is my business considered a "currency exchange"?
Written by Justin Thomas
Updated over a week ago

Typically a remittance business or crypto exchange is not considered to be a currency exchange and are accepted onto the Sila platform.

A currency exchange is a business that has the legal right to exchange one currency for another to its customers. Currency exchange of physical money (coins and paper bills), is usually done over a counter at a teller station.

All applications on Sila must undergo a due diligence process with our Compliance Team prior to receiving production access.

Did this answer your question?