Smarter operations with virtual accounts
Enjoy greater visibility and control with streamlined collections, remittances and reconciliation across global operations.
Faster, smarter reconciliations
Virtual accounts and virtual IBANs are a simpler way to manage global collections and payments, bringing greater visibility, faster reconciliation and more control to everyday treasury operations.
Simplify collections
Our clients and counterparties have dedicated payments rails, making incoming funds easier to identify, allocate and reconcile.
See your money clearly
Bring balances and transactions into one consolidated view, giving you greater visibility across accounts.
Streamlined global payments
Manage payments across suppliers, entities and currencies through a more organised account structure, reducing operational complexity.
One, integrated overview
Virtual accounts make it easier to deposit funds, withdraw and trade, giving you a dedicated account to move money in and out of the platform quickly and settle trades without friction.
Fund your account, ready to trade
A dedicated named IBAN for your account
Deposit fiat through a virtual IBAN assigned to your account, so every transfer is credited to you without references to match or delays.
Separate accounts for each entity
Give each group entity or trading mandate its own IBAN, keeping deposits, positions and reporting cleanly segregated.
Move from deposit to trade faster
Funds are credited to your MidChains balance once received, so you can execute without waiting on manual processing.
- How do I register and onboard on MidChains as an individual or entity and get my account verified?
- You may begin the process on our registration and onboarding page here.
- Complete the required details and submit the required KYC/KYB documents.
- Once verified, you'll receive a Client Agreement to sign.
- After signing, our team will grant your access to OTC trading.
- What documents are required?
To learn more about the onboarding process visit our onboarding page.
Individual
- D 1: Copy of Passport.
- ID 2: Copy (front and back) of a Government-issued ID (e.g. National ID card, Driver's license etc.)
- Proof of Address (e.g. Utility bill, bank statement) issued within the last 3 months.
- Documentary evidence of maintaining net assets of at least AED 3,500,000 in equivalent value, or annual income of AED 700,000 or more.
Institutional
- Passport copies of all UBOs that hold 25% and above.
- Proof of Address of all UBOs that hold 25% and above issued within the last 3 months.
- A document that confirms the UBOs [Certificate of Incumbency or Register of Members or Shares Register], Shareholders and Directors.
- Certificate of Incorporation.
- Memorandum / Articles of Association.
- Proof of funds maintaining a cash holding of AED 3,500,000 that illustrate relevant assets have remained, and will remain, liquid for a reasonable period of time.
- Copy of License [if available] OR Link to official public registrar [if this is publicly available].
- How long does verification take?
MidChains takes 1 business day to verify, review, and approve or reject your application. We will notify you via your registered email as soon as possible.