Crypto Account for a US LLC: Kraken, Coinbase & More

Do you want your US LLC to buy, hold or sell Bitcoin, USDC or other crypto assets? If those assets belong to the company, the exchange account should generally be opened as a business account in the company’s name.

Several major crypto platforms support corporate accounts. The differences go well beyond trading fees and supported assets. For non-resident owners, the UBO’s country of residence, the company’s business address, its existing bank account, Source of Funds and intended use can all affect onboarding.

Kraken can be attractive for trading, treasury management and larger volumes. Coinbase Business combines crypto trading more closely with USDC and payment functionality. Gemini adds professional trading and custody, while BitGo is aimed more heavily at institutional custody and larger corporate holdings.

This guide explains which crypto accounts can work for a US LLC, how the providers differ, and which documents international founders should prepare before applying.

Quick Answer

Can a US LLC open an account with a crypto exchange?

Yes. Several major platforms offer business accounts to US companies.

Kraken explicitly lists LLCs as an eligible business type. Coinbase Business also accepts US-registered LLCs and expressly allows eligible US entities with beneficial owners who live outside the United States.

Which crypto exchange is suitable for a US LLC?

It depends on how the company intends to use the account.

Kraken is particularly relevant for trading, treasury, OTC and API access.

Coinbase Business combines trading more closely with USDC, global payments, payment links, invoicing and APIs.

Gemini combines trading with professional custody.

BitGo is geared more toward larger or more institutional treasury and custody structures.

Can the owner of the LLC live outside the United States?

Yes. Coinbase expressly states that eligible US-registered entities can apply for Coinbase Business even when their beneficial owners live outside the United States. According to Coinbase, those non-US beneficial owners go through the same verification process as other beneficial owners.

Coinbase does not publish a general rule requiring the UBO personally to have a US address. The company’s business address, however, must be consistent with the information and banking documents submitted with the application.

Does the LLC already need a business bank account?

For Kraken fiat deposits and withdrawals, the bank account must be held in the same legal company name as the Kraken Business account. Coinbase also asks for banking documentation during Business onboarding.

A Crypto Account Is Not the Same as a Business Bank Account

A Kraken, Coinbase or Gemini business account normally does not replace the LLC’s operating bank account.

The business bank account is still used for areas such as:

• customer payments,
• ACH or SEPA transfers,
• supplier payments,
• cards,
• recurring operating expenses,
• tax payments.

The crypto exchange adds the crypto layer to that infrastructure.

A typical flow might look like:

Customer payment → LLC business bank account → crypto exchange → company wallet

When assets are sold, the flow can work in the opposite direction.

Especially with larger amounts, the company should be able to show clearly which fiat and crypto assets belong to the LLC.

Why Hold Crypto Through the LLC Instead of Personally?

The main advantage is the clear separation between personal and company assets.

If Bitcoin, Ethereum or stablecoins are economically owned by the LLC, the related accounts and wallets should ideally also be attributable to the company.

That can make it easier to manage:

• bookkeeping,
• allocation of purchases and disposals,
• acquisition records and Source of Funds,
• compliance reviews,
• distributions and owner withdrawals,
• separation of personal and corporate holdings.

For an LLC that uses crypto as part of its treasury strategy or regularly converts larger amounts between fiat and crypto, that separation becomes particularly important.

What About Tax?

An international structure can also be tax-efficient in the right circumstances. The crypto account itself does not create the tax benefit.

One example is an owner who is tax resident in Malta but not domiciled there. Under Malta’s remittance basis, foreign-source income is generally taxed in Malta only to the extent it is received in or remitted to Malta, while foreign capital gains are generally not taxed in Malta even if remitted.

A US LLC can therefore form part of a tax-efficient international setup—for example where crypto activity takes place at company level and profits remain within the business.

Whether that produces a low or zero current tax burden in a specific case depends in particular on the tax classification of the LLC, the owner’s tax residence and the place of effective management.

A Kraken or Coinbase Business account does not create that tax treatment; it can simply provide the operational infrastructure for an appropriately structured LLC.

Bizkonto does not provide tax advice. Before transferring substantial crypto holdings or carrying out regular trading through an international LLC, the structure should be reviewed by a tax adviser experienced with cross-border company structures.

Kraken, Coinbase, Gemini or BitGo?

The providers focus on different use cases.

The right choice therefore depends less on the best-known brand and more on what the LLC actually intends to do with crypto.

Kraken Business for a US LLC

Kraken is one of the most obvious options for companies that primarily want to buy, sell or hold crypto as part of their treasury.

Kraken explicitly lists LLCs among the business types that can apply for a Business account. Depending on eligibility and jurisdiction, available features can include:

• personalised deposit and withdrawal limits,
• Kraken Pro,
• higher API limits,
• OTC Desk access,
• margin trading,
• futures,
• staking.

This makes Kraken especially relevant for companies moving larger amounts or looking for a more professional trading setup.

Verification Can Be Extensive

Kraken Business onboarding can require information and documentation relating to:

• the company,
• ownership structure,
• beneficial owners,
• people with account access,
• operating business address,
• Source of Funds.

For the business address, Kraken asks for current evidence showing the company’s legal name and the physical address from which day-to-day business is conducted. Bank and crypto transfers must also be clearly attributable to the company.

Additional documents can be requested after the initial submission. For Source of Funds, Kraken may request items such as business bank statements, financial statements, loan agreements, contracts or invoices that support the origin of business income.

If Kraken is already your preferred provider, our guide explains the required documents and verification process: Open a Kraken Business Account for a US LLC: Documents & Verification.

Coinbase Business for a US LLC

Coinbase Business takes a somewhat different approach.

In addition to buying and selling crypto assets, Coinbase Business combines crypto access more closely with stablecoins and business payment functionality.

That can make Coinbase particularly interesting when crypto or stablecoins are not only being held as investments but are also used operationally by the company.

US LLC With a Non-Resident UBO

This is especially relevant for international founders:

Coinbase expressly states that US-registered LLCs can generally apply for Coinbase Business even when their beneficial owners live outside the United States.

Coinbase currently does not publish a general requirement that a foreign UBO must personally have a US address.

Instead, it is important that the business address in the application matches the supporting documentation. Coinbase specifically requires the address on the bank statement to match the business address used in the application.

Which Documents Does Coinbase Request?

Coinbase currently lists, among other things:

• a government-issued ID for the applicant,
• ID for a Control Person,
• IDs for relevant owners with more than 25% ownership,
• Articles of Organization,
• bank statement,
• EIN or tax identification,
• a specific description of the company’s business activity.

Relevant for Newly Formed LLCs

Coinbase expressly allows applications from newly formed businesses with limited or no transaction history.

For companies that are no more than twelve months old, the submitted statement can, under certain conditions, be in the company’s name or—in the case of a single-member LLC—in the applicant’s personal name. Limited or even no account activity does not automatically prevent an application as long as the name and address requirements are met.

That can be useful for newly formed non-resident LLCs.

Kraken or Coinbase for a US LLC?

For traditional crypto trading, treasury, larger volumes, OTC or API use, Kraken can be particularly attractive.

Coinbase Business may be the better fit when:

• USDC plays a larger role,
• customers are expected to pay in crypto,
• invoices or payment links are needed,
• crypto payments and fiat payouts should be more closely connected.

For many LLCs, both providers can be viable.

The better solution depends on the company’s actual crypto and payment profile.

Gemini as Another Alternative

Gemini’s Business and Institutional offering is also aimed at companies and private-wealth structures.

Its offering includes areas such as:

• spot and derivatives trading,
• ActiveTrader,
• APIs,
• custody,
• staking,
• ACH and wire funding.

For business onboarding, Gemini generally asks for items including a W-8 or W-9, a bank statement and identity documents for relevant individuals.

Gemini can therefore be relevant when professional custody and trading should be more closely combined.

BitGo for Larger Corporate Holdings

BitGo operates in a somewhat different segment.

Its infrastructure is more heavily geared toward companies with professional requirements for custody, trading and treasury management.

BitGo uses different regulated entities depending on the jurisdiction. For example, BitGo New York Trust Company is licensed by the New York State Department of Financial Services as a Limited Purpose Trust Company, while its Singapore entity holds a licence from the Monetary Authority of Singapore for certain Digital Payment Token services.

This can be particularly relevant where an LLC:

• holds larger crypto balances,
• needs professional custody,
• moves high trading volumes,
• wants a more structured separation between custody and trading.

For a small consulting LLC that occasionally buys Bitcoin, that infrastructure may be more extensive than necessary.

Other Crypto Exchanges: Review Regulation and Counterparty Risk

If an LLC intends to hold or move substantial amounts, the exchange should not be selected only on the basis of low fees, asset selection or easy registration.

Whenever company assets remain on a centralised crypto platform, there is also counterparty risk.

Before opening an account, it is worth checking at least:

• which legal entity operates the account,
• where that entity is incorporated,
• which licence or registration it holds,
• which regulator is responsible,
• how client assets are held,
• whether assets can be withdrawn to the company’s own wallet,
• how transparent the provider’s corporate and ownership structure is,
• how long the provider has been operating.

A large, well-known exchange is not automatically risk-free.

For significant corporate holdings, however, we would generally prefer an established provider with a clearly identifiable legal entity, regulatory framework and custody structure over a little-known offshore platform where the licence status and responsible entity are difficult to verify.

The issue is not simply whether a provider is incorporated in a Caribbean jurisdiction. The concern arises when it is unclear which company is the contractual counterparty, which regulator has authority, or whether the stated licences actually exist.

For five- or six-figure company holdings, this should matter at least as much as fees or the number of supported assets.

Which Documents Do Crypto Exchanges Require From a US LLC?

Although Kraken, Coinbase and Gemini differ, many KYB requirements overlap.

For a typical US LLC, the following document groups should be prepared:

A straightforward single-member LLC is usually easier to document than a multi-layer holding structure.

Even a simple LLC can trigger follow-up questions if the company name, ownership, business address and payment flows do not tell a consistent story.

The Business Address Is Particularly Important for Non-Resident LLCs

Many US LLCs are formed online and use a Registered Agent in Wyoming, Florida or Delaware.

That address is not automatically the place where the company is actually operated.

Kraken, for example, requires evidence of the physical operating business address and does not accept a simple PO box. The evidence must show the company’s legal name and generally be less than three months old.

Coinbase also requires the business address shown on the bank statement to match the application.

Before applying, the company should therefore be clear on:

• which address will be used as its business address,
• where the day-to-day business is actually conducted,
• which document proves that address,
• whether the bank account and other company documents are consistent with it.

For non-resident structures, this point can be more important than whether the LLC was formed in Wyoming or Florida.

Source of Funds: Where Do the Money or Crypto Assets Come From?

Another central issue is Source of Funds.

Kraken describes Source of Funds as evidence showing where the money used by a business comes from.

Possible supporting documents can include:

• business bank statements,
• financial statements,
• investment statements,
• loan agreements,
• contracts,
• invoices.

If the LLC Invests Business Revenue

A clear evidence trail could look like:

Customer contract → invoice → payment into business bank account → transfer to crypto exchange

If Crypto Is Currently Held Personally

The situation is more complex.

Before transferring those assets into the LLC, it should be clear:

• who currently owns the assets economically,
• when and where they were originally acquired,
• how the transaction history is documented,
• how the assets are contributed or transferred to the company,
• how the transfer is treated for accounting and tax purposes.

The larger the balance, the more important it is to retain a clear record of the original acquisition and subsequent transfers.

Our guide to Source of Funds for companies explains how to organise the evidence and document the flow of funds.

How Bizkonto Supports a Crypto Account for a US LLC

Bizkonto works with several providers in the business-crypto space and maintains direct contacts with them.

That means we can not only help assess which solution fits the company, but also introduce the client directly to the provider and administratively support the full onboarding process.

This can include:

• assessing which provider fits the LLC, UBO and intended use,
• compiling the required corporate and KYC documents,
• preparing the business address and ownership structure,
• organising Source of Funds and, where relevant, Source of Wealth evidence,
• making the direct introduction to the provider,
• submitting the application,
• coordinating and handling administrative follow-up questions during verification.

For international LLCs, that direct contact can be particularly useful when questions arise around residence, business address, Source of Funds or existing crypto holdings.

The right solution depends on the specific company. Relevant factors include the legal entity, ownership structure, UBO residence, expected volumes and whether crypto will mainly be held, actively traded or used operationally for payments.

Final approval always remains with the relevant provider and cannot be guaranteed by Bizkonto.

Conclusion: Structure the LLC’s Crypto Setup Properly

A dedicated crypto account can make a great deal of sense for a US LLC when crypto assets genuinely belong to the company or are regularly traded through it.

The priority is a clear separation between personal and corporate assets. The business bank account, crypto exchange and company wallet should fit the LLC structure, and the origin of the fiat and crypto assets should be documented.

For international structures, the tax treatment should also be understood before substantial holdings are transferred or regular trading begins. In the right setup, a US LLC can be tax-efficient—but the crypto account itself does not create that advantage.

For larger balances, regulation, the responsible legal entity, custody structure and counterparty risk should also be considered alongside fees and features.

Bizkonto can help identify a suitable provider, make the direct introduction, submit the application and administratively support the verification process.

Frequently Asked Questions

Which crypto exchanges accept US LLCs?

Kraken and Coinbase Business, among others, offer business accounts for US LLCs. Gemini and more institutionally oriented solutions may also be suitable depending on the company profile.

Can a non-resident open Coinbase Business with a US LLC?

Generally, yes. Coinbase expressly states that US-registered entities with beneficial owners outside the United States can apply for Coinbase Business.

Does the Coinbase UBO need a US address?

Coinbase does not publish a general requirement for a non-US UBO to have a US address. The business address used in the application must, however, match the relevant banking and company documentation.

Can a US LLC use Kraken?

Yes. Kraken expressly lists LLCs as a business type that can apply for a Business account.

Does the LLC need a business bank account for the exchange?

For Kraken bank transfers, yes: the bank account must be held in the same company name as the Business account. Coinbase also asks for banking documentation during Business onboarding.

Can a newly formed LLC open Coinbase Business?

Yes. Coinbase expressly accepts newly formed companies with limited transaction history. For a single-member LLC that is no more than twelve months old, a personal bank statement from the applicant may be accepted in certain circumstances.

Which documents does a crypto exchange need from an LLC?

Typical requirements include formation documents, EIN, ownership and UBO evidence, identity documents, proof of business address, banking records and, where relevant, Source of Funds documents. The exact list depends on the provider and the case.

Is Kraken or Coinbase better for a US LLC?

It depends on the use case. Kraken is particularly strong for trading, treasury, OTC and API requirements. Coinbase Business can be more relevant where stablecoins and operational payment functions are central.

Can a US LLC with a Malta non-dom owner be tax-efficient?

Potentially, yes. Malta’s remittance basis can be relevant for a qualifying non-dom, but the result depends on the LLC’s tax classification, the owner’s tax residence and the place of effective management. The structure should be reviewed individually before relying on any tax outcome.