FAQ | Atlas Banking

Is Atlas regulated?

Atlas is a registered Money Services Business for the purpose of handling crypto-assets with the Financial Transaction & Reports Analysis Centre of Canada ("FINTRAC"). Registration: C100000290.

All fiat funds flow through regulated banks using local and international payment rails such as Fedwire and SWIFT.
‍

Is our software secure?

Yes, we handle billions of dollars of transactions each year. Our platform is security and penetration tested annually by BAE systems (A government infrastructure audit service).
‍

Who can open an account?

Companies (LLCs, IBCs, Limited Companies), Trusts, Family offices, Funds and HNW individuals are eligible to open an account with Atlas.

We accept applications from over 120 countries. See prohibited countries and industries list for exact details.
‍

Which crypto, stablecoins and fiat currencies will I have access to?

Fiat
On & Off-ramping and Virtual IBANS
- USD (Fedwire & SWIFT)
- GBP (FasterPayment & SWIFT)
- EUR (SEPA & SWIFT)
- AED (SWIFT)

Crypto
Access over 3,000 different coins, stablecoins, and tokenized assets for custody, payments and trading. Including any asset on the following blockchains:
- Arbitrum
- Astar
- Aurora
- Avalanche
- Axelar
- Base
- Bitcoin
- BNB Smart Chain
- Canto
- Celestia
- Celo
- Chiliz
- Cosmos Hub
- dYdX
- Ethereum
- Ethereum Proof-of-Work
- Evmos
- Fantom
- HT Chain
- KAVA
- Linea
- Moonbeam
- Moonriver
- Oasys
- Optimistic Ethereum
- Osmosis
- Polygon
- Ronin
- RSK Smart Bitcoin
- Shimmer
- SmartBCH
- Songbird
- TokenX
- TRON
- Velas
- XDC Network
- zkEVM
- Solana
- Algorand
‍

How do you keep my asset secure?

We use technology called Multi-Party Computation (MPC). With MPC, the corresponding private key shares are created and encrypted in isolated Secure Hardware Enclaves across multiple cloud centers. To sign transactions, the key shares are used to perform multiple rounds of computation all without ever being brought into the same environment. Because of this, MPC eliminates the single point of compromise of private key creation and signing.
‍
This is then backed-up with a broad scope of insurance coverage for Technology, Cyber and Professional Liability provided by Fireblocks (our custody infrastructure partner) with a coverage of up to $30M of loss of funds.
‍

What are your policies relating to customer deposit safety?+

All USD account holders receive FDIC deposit insurance up to $250,000. Relevant bank accounts provided by Cross River Bank; Member of FDIC.

What are the fees?

There are no account opening fees, no monthly fees, nor custody fees for having an account with Atlas. On & off-ramping and conversions include a brokerage fee.
‍

What is FDIC insurance?+

The Federal Deposit Insurance Corp. (FDIC) is the agency that insures deposits at member banks in case of a bank failure. FDIC insurance is backed by the full faith and credit of the U.S. government.
‍
The FDIC insures up to $250,000 per depositor, per FDIC-insured bank, per ownership category. This guarantees that their money is safe, as long as it’s within the limits and guidelines.

Relevant bank accounts provided by Cross River Bank; Member of FDIC.

What does FDIC insurance cover?+

FDIC insurance covers traditional bank deposit products, including checking accounts, savings accounts, certificates of deposit and money market deposit accounts.
‍
The insurance covers up to $250,000 in deposits, per depositor, per FDIC-insured bank, per account ownership category. If an account holder has more than $250,000 on deposit across several accounts at a single bank, in their name alone, anything over $250,000 is not insured.

Relevant bank accounts provided by Cross River Bank; Member of FDIC.