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Karma supports business accounts for on-ramping and off-ramping through virtual accounts (SEPA and ACH). This allows businesses to convert between fiat and USDC seamlessly.
Card spending is not yet available for business accounts. Business accounts currently support virtual accounts (on-ramp and off-ramp) only. Card access for businesses is coming soon.

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What businesses can do with Karma

  • On-ramp: Receive EUR (SEPA) or USD (ACH) deposits and convert them to USDC on Solana
  • Off-ramp: Convert USDC to EUR or USD and withdraw to a linked bank account
  • Virtual IBANs / Account Numbers: Get a dedicated virtual account for receiving deposits

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Onboarding requirements

To verify a business account, Karma collects and verifies information about the business and its ownership structure.

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Standard requirements

  • Legal entity name
  • Registered address
  • Principal operating address
  • EIN/TIN or equivalent identification number (see accepted IDs by country)
  • Business entity type
  • Formation documents (articles of incorporation, etc.)
  • Ownership documents (shareholder agreements, cap tables, etc.)
  • Identity verification (KYC) on all beneficial owners and control persons
  • Business description, website, and industry
  • DAO status (if applicable)
Beneficial owners are individuals or entities holding 25% or more ownership. Control persons are individuals with significant responsibility directing the business (CEO, CFO, COO, etc.).

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Enhanced requirements

For higher-risk profiles or higher transaction volumes, additional information may be required:
  • Source of funds
  • Estimated annual revenue
  • Disclosure of high-risk activities
  • Disclosure of high-risk geographies (Cuba, Iran, Myanmar, North Korea, or Syria)
  • Disclosure of customer money transmission (and compliance screening details if applicable)
  • Primary account purpose
  • Expected monthly transaction volume (USD)
In specific cases where additional diligence is needed, you may also be asked for:
  • Proof of funds (e.g. bank statements)
  • Proof of operating activity (e.g. invoices, receipts, commercial contracts)
  • Licensing information for regulated industries
  • Proof of address (requirements) — required when conflicting location signals are detected

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Supported countries

Business accounts follow the same country availability as individual accounts. See Supported Countries for the full list.

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Need help?

If you have questions about business onboarding, reach out via Telegram.