Key Data

• Trading Name: OneSafe
• Legal Entity: Thresholds, Inc
• Activities: Neobank for Web3 Companies
• Location: USA
• Regulations: whitelabeled 
• Key People: Chris Shei/Brian Ko
• Latest news: OneSafe

OneSafe is a financial technology company that offers a platform tailored for startups and businesses operating in both traditional fiat and cryptocurrency realms.

Offering

Key Features:

• Global Payments: Facilitate transactions in multiple currencies worldwide.
• Corporate Cards: Issue corporate cards with customizable spending limits, suitable for various vendor payments.
• Multi-Currency Support: Manage accounts in multiple currencies, including USD, EUR, and CAD, with plans to expand to additional currencies.
• Crypto-Friendly Services: Support for both fiat and cryptocurrency transactions.
• Seamless Payments: Provide versatile payment options, including ACH transfers, domestic and international wire transfers, bill payments, and crypto payments.

Global Accessibility

OneSafe’s platform is accessible worldwide, with exceptions for OFAC-sanctioned countries and certain U.S. states. This global reach enables businesses to manage financial operations seamlessly across different regions.

Security

OneSafe prioritizes security with advanced encryption, strict compliance protocols, and Fireblocks for safeguarding digital assets. They enforce Multi-Factor Authentication (MFA) for all accounts, ensuring robust protection against unauthorized access.

Regulation

OneSafe is a financial technology company, not a bank. Banking services are provided through partnerships with regulated entities such as Fortress Trust, ensuring compliance with applicable regulations and secure custody of digital assets. Through these collaborations, OneSafe delivers its services on a stable and compliant foundation, prioritizing security and reliability for its users.

Fortress Trust operates as a financial institution holding a Nevada Trust license, which authorizes it to provide custody services for financial assets, including digital assets (Cointelegraph).

This licensure ensures that Fortress Trust adheres to the regulatory standards and compliance requirements mandated by the state of Nevada, thereby offering a secure and regulated framework for its custody and trust services.

Serving Industries

OneSafe primarily serves startups and businesses that operate in both traditional fiat currencies and cryptocurrencies. Their platform is particularly beneficial for companies integrating Web3 transactions alongside conventional banking needs. This includes small startups and growing enterprises seeking a crypto-friendly financial platform to manage various financial operations seamlessly.

Customer Review

• Trustpilot: 1 Review with 1 Star

Key People

OneSafe’s leadership team includes:

• Chris Shei, Co-Founder and CEO
• Brian Ko, Co-Founder and CTO

Financial Standing

According to PitchBook, OneSafe was founded in 2021 and is headquartered in Las Vegas, NV. The company has attracted investment from firms including Felicis, Pareto Holdings, Soma Capital, Abstract Ventures, and Backend Capital.

Conclusion and Rating

Based on the available information, OneSafe is rated orange from a customer perspective and green from a compliance standpoint:

• Customer Rating (Orange): The orange rating reflects negative customer reviews, primarily concerning the complex onboarding process. While this issue highlights potential user experience challenges, it is worth noting that no significant feedback on other operational aspects has been reported.
• Compliance Rating (Green): OneSafe demonstrates a high degree of transparency and provides all necessary compliance information. The partnership with regulated entities like Fortress Trust ensures adherence to legal and financial standards, securing a green rating for compliance.

This dual rating acknowledges the company’s compliance integrity while emphasizing areas for improvement in customer experience.