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Ask HN: Recommendations for running a US company with all revenue in crypto?

6 pointsby ac4twover 6 years ago
Our company, Stealthy Inc., is a Delaware C-corporation, setup through Clerky. We hadn&#x27;t needed banking since incorporating as we&#x27;ve been bootstrapping the company ourselves. However, we recently started earning App Mining Rewards every month from the platform we&#x27;ve built upon. The rewards are paid in Bitcoin (anywhere between $1k and $20k USD in Bitcoin). We&#x27;re using [Blockchain.info](http:&#x2F;&#x2F;blockchain.info&#x2F;) as a wallet and that is where the challenge begins.<p>We wish to convert some of the Bitcoin to USD for operating capital, but we&#x27;re encountering some challenges in setting up a corporate bank account. Our product is a decentralized messenger ([Stealthy.im](http:&#x2F;&#x2F;stealthy.im&#x2F;)) and one problem is that one of our future features will allow users to send payments in crypto. In working with Silicon Valley Bank to get accounts, they wanted significant detail about the types of crypto transactions we will be enabling and the process looks to take a considerable amount of time if it is successful.<p>We&#x27;re hoping the HN community might have some suggestions or experience that can help us sort out our banking situation more quickly and possibly more appropriately (any related advice and recommendations or referrals are also welcome--i.e. accounting etc.)?

1 comment

swampthingover 6 years ago
I&#x27;m one of the co-founders of Clerky, thanks for using us! Have you tried Silver Lake Bank? I don&#x27;t know them personally, but they&#x27;re known for being more friendly toward crypto startups.
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