Sub Merchant PayFac Model
Onboarding under master entity structure
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Proof of Reserves
Mechanism showing custodian holds claimed assets
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Off Ramp Partner
Third party used for conversion and payout
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Licensing
Regulatory authorisation to operate in a jurisdiction
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Commingling vs Segregation
Whether client funds are pooled or separated
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Fiat Float
Fiat funds held before payout
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Custodial vs Non Custodial Processing
Whether processor takes possession of funds
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Correspondent Banking Risk
Reliance on intermediary banks for transfers