Which types of businesses does Swan restrict?

Nonkululeko Ngoloyi
Nonkululeko Ngoloyi
  • Updated

Swan builds infrastructure for businesses to embed financial services. Swan must comply with local laws, regulations, and rules set by payment networks and institutions supporting its infrastructure. While most types of companies can embed banking services with Swan, there are some that Swan can't work with.

This is a risk-based decision, not a preference-based one: Swan won't work with businesses that might harm the reputation or financial well-being of Swan or Swan partners. We're open to the idea of expanding our service to include more industries in the future! 

Swan restricts activities in the following industries:

Category Restricted activities
Substance-related activities • Tobacco culture and products
• Manufacture of tobacco products
• Marijuana culture and illicit marijuana products
Financial and regulatory risk activities • Shell banks
• Trust & off-shore company service providers
• Company domiciliation businesses
• Non-licensed money service businesses and payment service providers
• Crypto-assets trading, exchange and custody platforms
• Crypto-currency mixing activity
• Money remittance
• Currency dealer & exchangers, FOREX
Industries with a high environmental impact • Extractive industries such as oil, gas, and coal, including the extraction, processing, commerce, and other related activities
• Nuclear material and power generation
• Palm oil production
• Polluting or dangerous industry chemicals
Controversial or sensitive activities • Weapons and defense materials providers
• Prostitution and escort services
• Adult entertainment (pornography or similar activities)
Gaming and entertainment • Gambling industry, including video games classified as online gambling
• Game publisher of online games that permit value transfer between gamers
• Online bartering services
Other • Religious activities
• Precious stones, gems, and jewels

Please note: eligibility for an account does not guarantee the validation of the account.

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