⚙️General FAQs

Is Skyline Digital a bank?

Skyline Digital is not a bank!

It operates as a financial intermediary and falls under the category of a Virtual Asset Service Provider (VASP). Unlike traditional banks, Skyline Digital does not hold customer deposits or act as a custodian of funds. Instead, it operates as a non-custodial solution, which means users retain full control and ownership of their digital assets while using the platform's services.

How can I ensure my funds are safe?

As a non-custodial solution, Skyline Digital takes our platform's security very seriously and provides extensive measures to protect your digital assets. However, your wallet's and private keys' security is entirely your responsibility. We recommend that you take every possible precaution to secure your wallet and protect your private keys, including using a strong password and enabling two-factor authentication.

How long does Skyline Digital hold my money for?

Skyline Digital can hold your funds for a maximum of 60 days. After this period, we will issue a refund to your account. We take the security and privacy of your funds seriously and do our best to ensure that your transactions are processed quickly and efficiently so that we hold your funds for the least amount of time.

Can I use your service through API?

Yes, you can use Skyline Digital's services through their API. The Skyline Digital API is designed to provide real-time data, advanced analytics, and secure transaction capabilities within the primary Web3 infrastructure tools. The API documentation and guidelines will assist you in understanding how to use the API effectively and securely: https://skyline-digitial.gitbook.io/skyline-digital-api/

How do I change my address?

To change your address, please reach out to our support team at @skylineotc, and they will be available to assist you 24/7.

The user that created my account is no longer part of the company, how can we revoke the access?

We understand that circumstances can change, and employees may leave a company. If the user who created your account is no longer with your company, please reach out to our support team at @skylineotc, and they will be available to assist you 24/7.

I am not an HNWI nor a Founder. Can I still use the platform?

Yes, absolutely! Skyline Digital welcomes users from diverse backgrounds, such as Crypto businesses, DAOs, Foundations, and individuals with crypto assets. Our team is available 24/7 through our Telegram channel @skylineotc to assist you. Feel free to get in touch to explore how to use the platform and discuss any specific challenges you may have.

Does Skyline Digital allow for invoice issuing?

At the moment, this feature is not yet available. We are working on a streamlined tool to ease financial operations with professional invoices, helping to track and manage accounts payables seamlessly.

Can you import invoices into Skyline Digital to easily execute payments?

Yes, our team is developing an Accounts Payables feature. We expect it to be available on our platform as soon as early January 2024.

How does a self-custodial solution work?

A self-custodial solution refers to a system where users have direct control and ownership over their assets, without relying on a third-party custodian. Since there are no intermediaries involved in the custody of your assets, you are always in control of your funds at all times. This reduces counterparty risk and eliminates the need to trust a third party with the security of your funds.

What are the costs associated with using the platform?

Skyline Digital takes pride in its transparent and straightforward fee structure. We do not charge onboarding fees, ongoing fees, or gas fees for transactions. For Crypto-to-Fiat payments, we have a flat transaction fee of 1% plus 10 USD. It's important to note that we maintain a minimum fee of 30 USD for Polygon users and 100 USD for Ethereum users.

Is the cost lower with multi-payment transactions?

Yes, the minimum fee might lower if you group multi-payment into one single transaction with our new feature “batch payments”. More on this feature here.

How does Skyline Digital ensure safety?

In addition to its self-custodial framework, the platform allows for secure wallets integration, including SAFE and Metamask, designed to safeguard private keys and protect against unauthorized access. Skyline Digital is committed to adhering to rigorous regulatory standards, encompassing tax implications, anti-money laundering (AML), know-your-customer (KYC), and know-your-business (KYB) regulations, ensuring the safety of assets and usage.

From where does Skyline Digital operate?

Skyline Digital has its headquarters in Zug, Switzerland, benefitting from a crypto-friendly and light-touch regulatory home base. This advantageous setting enables the platform to facilitate third-party payments, OTC trades, tokenized real-world assets, and vIBANs, streamlining the execution of single or batched payments for business expenses, contractors, and service providers. In June 2023, Skyline Digital solidified its stance in the EU by obtaining a VASP license from the OAM in Italy, allowing its services to operate fully from Switzerland and Italy.

Can I use Skyline Digital anywhere in the world?

Yes, Skyline Digital covers all jurisdictions and regulatory compliance worldwide since it is a certified Virtual Asset Service Provider (VASP). Our licensing framework enables us to offer global access to TradFi services and payment remittance for third parties worldwide.

Are there any country restrictions to onboard my DAO?

Yes. We are only NOT allowing OFAC sanctioned countries at the moment. For any inquiries, we advise you to contact us through our Telegram channel.

Is there a cap limit on the amount I can send within one transaction?

It depends on your level of KYC. We initially allow up to 100k in transaction volume before we may request more information, such as proof of funds. This measure ensures safety of funds and compatibility between the information provided and the actual usage of our platform.

Which regulatory standards does Skyline Digital comply with?

In Switzerland, where Skyline Digital AG is incorporated and headquartered, we are a VASP and financial intermediary registered with VQF, an SRO supervised by FINMA. In Italy, Skyline Digital S.r.l is a VASP registered with OAM (registration number PSV112).

Have any other questions?

Reach out to us at @skylineotc or send us an email at [email protected]