EQUibank, a financial services firm located in Dominica, continues to promote its ability to hold and manage your OTC crypto from a licensed and regulated bank. OTC trading typically entails larger transactions so access to liquidity providers, something EQUIBank says it has, can be helpful.
EQIBank is licensed in Dominica as an offshore bank, in a jurisdiction that has no capital gains tax, capital transfer tax, or wealth taxes. Beyond more traditional banking services, for both individuals and businesses, EQUIBank also offers crypto services including custody. Of course, you must be reviewed and approved to open an account a process that entails KYC/AML reviews as well as disallowed businesses.
EQUIBank claims 24/7 assistance and connections with all major crypto exchanges. Fees are available here. The company aims to be “the most respected digital bank in the world, serving corporations and individuals in over 180 countries.”
If you are a US citizen, FATCA requires foreign financial institutions to report information directly to the IRS.