Opening accounts

Modern Treasury enables you to programmatically open accounts. These accounts can be used to make payments. Each account has a balance and a transaction history. You can open and manage fiat and stablecoin accounts by following the same process.

You can open accounts for your own business, or on behalf of your customers. In order to create an account, you may need to create a Legal Entity. A Legal Entity is an individual or business with distinct legal rights.

You will need to onboard your customers as legal entities if you are facilitating payments on their behalf. As a part of onboarding their legal entity, Modern Treasury will perform KYC/KYB on your customers.

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If you are bringing your own bank and Modern Treasury is facilitating the passthrough of data to your sponsor bank, Modern Treasury can share your legal entity data with your bank sponsor