01
Structure
The fund, its entities, ownership and management had to be presented clearly.
Medici Expert Cases
From Fund Structure to Three Institutional Exchange Accounts
A crypto fund with several entities, investor types and share classes needed institutional accounts, and expected a long compliance process. We managed the onboarding from structure review to live accounts. The first account opened within a week; two more followed four days later.*
Trusted by clients and partners across the globe
Case
at a Glance
Client:
Crypto investment fund
Situation:
Fund established, no trading infrastructure yet
Challenge:
Institutional onboarding for a multi-layer fund structure
Medici Scope:
Onboarding · Compliance responses · Sub-accounts · Exchange communication
Timeline:
1 week to the first account · 4 more days for two others*
Outcome:
3 exchange accounts · Banking in place · Sub-accounts aligned with the fund structure
Context
The fund was ready. The operating infrastructure was not.
The client needed institutional accounts to trade, convert digital assets and manage investor flows.
Before approving an account, an exchange needs to understand who controls the structure, whose funds will enter the account and how they will move.
The client was also concerned that a Panama-based structure would create additional friction with compliance teams.
Our task was to make a complex structure legible to exchange compliance, and to turn approvals into a working setup.
The Challenge
Passing KYB was only part of the work.
01
Investor Flows
Exchanges needed to see where investor funds originate and how they move.
01
Regulatory Status
The planned activity had to match the fund's regulatory position.
01
Account Architecture
One approved account was not enough. Sub-accounts had to reflect investor types and share classes.
From Structure to Live Accounts
01
Structure Review
Fund, ownership, investors and money flows mapped before any application.
02
Exchange Onboarding
KYB, documentation and the first round of compliance questions.
03
Compliance Response
Structure, activity and source of funds explained in the terms each exchange uses.
04
Account Setup
Institutional accounts and sub-accounts.
05
Live
First account: 1 week · two more: 4 days.*
One consistent structure, from investor contribution to trading and withdrawal.
What Made the Case Difficult
Exchanges approve structures they can understand. In plain terms: KYB (know your business) is the corporate equivalent of KYC. For a fund, an exchange is answering three questions:
01
Who stands behind it?
Ultimate owners, controllers and managers
01
Whose money is it?
Investors and the source of their funds
01
What will the account be used for?
Activity consistent with the fund's regulatory status
A legitimate structure that is difficult to read gets caught in repeated follow-ups. The same structure, clearly presented, gets approved.
Our Approach
We managed the compliance case, not only the application.
01
Map the structure first.
How the fund, investors and flows would be presented was agreed before onboarding started.
02
Handle the compliance dialogue.
We managed exchange questions and supporting documents throughout.
03
Build accounts around the operating model.
Sub-accounts follow investor types, share classes and the actual movement of funds.
04
Stay involved after approval.
We continued to support the exchange relationship once the accounts were live.
The Outcome
First account in a week. Two more in four days.
01
3 Exchange Accounts
Institutional accounts opened for the fund.*
02
Sub-Accounts Configured
Organised by investor type and share class.
03
Banking Connected
Banking infrastructure added alongside the exchange setup.
04
Operationally Ready
The client moved from fund setup to managing investor capital and trading.
*Timelines and onboarding decisions depend on the exchange, jurisdiction, regulatory status and circumstances of each client.
Need Institutional Exchange Accounts?
Prepare the structure before the application.
01
Who owns and controls the structure?
Have the full ownership chain ready, down to individuals.
01
Where does the money come from, and how will it move?
Map it from investor to account and back.
01
Does your regulatory status match the planned activity?
If it does not, compliance will identify the gap first.
A well-prepared onboarding makes a legitimate structure straightforward to approve.
Need Exchange Accounts for Your Company or Fund?
Tell us how the structure works and what the accounts will be used for. We will assess each exchange's requirements and manage the process with them.
Discuss Your Case