Corporate Account Registration for a BlockQuake Trading Account
BlockQuake has partnered with PrimeTrust, a qualified custodian, to (1) ensure all customer fiat assets are securely held in custody through cold storage and (2) to perform KYC/AML (Know Your Customer / Anti-Money Laundering) verification. The utilization of a qualified custodian is a safeguard and a regulatory standard adhered to by traditional finance. As a direct result of this partnership, customers will have a Prime Trust account created when registering for an account with BlockQuake.
Corporate Accounts will be required to provide the following information:
- Company name and address
- Documentation showing company formation
- Company ownership & control structure
- For example: Articles of Incorporation / Certificate of Formation / Partnership Agreement / By-laws / Operating Agreement / Trust Instrument
- Proof of beneficial ownership of the company, evidencing those entities or individuals owning 25% or more
- For example: Operating Agreement / Partnership Agreement / Share Registry / Capitalization Table / Schedule K1
- Proof of Address (mail item within 90 days, showing company name and address)
- Tax Country
- Tax State (U.S. companies)
- NOTE: These Documents must show that the contact person listed on the account is an authorized signor for the company
- Nature of Business of the Company, Purpose of Account, Source of Assets and Income, and Intended Use of Account
- Anticipated Account Activity (types of assets, monthly cash volume, incoming and outgoing transactions, trading patterns)
We also require information on the Beneficial Owners / Beneficial Entities and any Associated Persons / Control Persons of the company who own at least 25% or has rights to own at least 25% of the company:
- There can be 1 to 4 Beneficial Owners (see Appendix A for further details/requirements)
- Associated Persons / Control Persons are, for example, persons who will have control of the account or a single individual with significant responsibility to control, manage, or direct a legal entity customer including an executive officer or senior manager (e.g. a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President or Treasurer) or any other individual who regularly performs similar functions (i.e. the control prong).
Please note the following:
- If the Beneficial Owner of an entity is itself an entity then it will be treated as a separate entity and we will be required to collect all the same information as the parent (related-from) entity. This will stretch all the way until all of the Ultimate Beneficial Owners have been cleared.
- If the Beneficial Owner is a natural-person we will be required to treat this beneficial owner as a separate natural person and will be required to collect all the same information as we would for an individual account holder.
- See Appendix A below for more details on entities with complex ownership structures.
Information Required for Beneficial Owners or Associated Persons/Control Persons:
- Complete Name, Company Title/Position
- Address of Residence for Beneficial Owners or Associated Persons
(complete home address, city, state/province/region, postal code, county)
- Date of Birth, Sex (male, female, unspecified)
- Personal Tax ID Number
- Proof of Identity & Proof of Address as outlined below
Proof of Identity/Address:
In addition, each Beneficial Owner and/or Associated Person/Control Person must provide Proof of Identity and Proof of Address.
1) Submit Valid Proof of Identity in the form of a Valid (unexpired) Government Issued Photo Identification (such as Driver’s License, Passport, Government ID, Residence Permit). For all ID types (excluding Passport) you must submit a copy of the Front and Back of your ID, each in a separate image / file.
And, if the ID does not show the individual’s complete and current address
2) Submit Proof of Address in the form of 1) an Employer pay stub (showing your complete name, address and TaxID#) or 2) a telephone or other utility bill dated within 90 days (showing your complete name and address).
- Assemble the required documentation. Each file can be up to 8MB (Megabyte) in size.
- Visit BlockQuake.com and follow the onscreen instructions to complete the registration form and upload the required documents.
- NOTE: the person who completes the registration must be a signor for the company and will be deemed the “contact person” for the account.
LEGAL ENTITY CUSTOMERS WITH COMPLEX OWNERSHIP STRUCTURES
COLLECTION OF BENEFICIAL OWNERSHIP INFORMATION FOR DIRECT AND INDIRECT OWNERS
BlockQuake and Prime Trust LLC are required to obtain from entity customers the identities of individuals (beneficial owners), either directly or indirectly through multiple corporate structures, as illustrated in the following example. The following is provided as guidance to assist you in providing the required beneficial holder disclosure.
Based on the diagram below, Allan is a beneficial owner of Customer because he owns indirectly 30 percent of its equity interests through his direct ownership of Company A. Betty is also a beneficial owner of Customer because she owns indirectly 20 percent of its equity interests through her direct ownership of Company A plus 16 2⁄3 percent through Company B for a total of indirect ownership interest of 36 2⁄3 percent. Neither Carl nor Diane is a beneficial owner because each owns indirectly only 16 2⁄3 percent of Customer’s equity interests through their direct ownership of Company B.
“Beneficial Owners” are: (1) Each individual, if any, who owns, directly or indirectly, 25 percent or more of the equity interests of the legal entity customer (e.g., each natural person that owns 25 percent or more of the shares of a corporation; and (2) An individual with significant responsibility for managing the legal entity customer (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer).