Ledger Line POS / Crypto on ramps
Crypto on ramps processing
Crypto On Ramp Card Processing for Licensed Platforms
A crypto on ramp lets a customer turn a card payment into digital assets, and that single step makes the platform a money transmitter in the eyes of federal regulators. Card networks layer their own registration and coding on top.
Short answerRead this first
What does a crypto on ramp need to accept cards?
You need FinCEN registration as a money services business, state money transmitter licenses where required, a written anti money laundering program, identity and sanctions screening, blockchain analytics, and correct network coding. Acquirers check every one before cryptocurrency payment processing begins for your platform.
The right setup for crypto merchants
What fits
- A card on ramp with identity checks, sanctions screening and wallet ownership verification before funds move.
Why it matters here
- Card funded crypto purchases are irreversible on the blockchain, so fraud must be stopped before the card is charged.
Most common setup mistakes
- Selling crypto with no identity verification
- Letting users send purchases to wallets they do not own
- Operating without the money transmission licenses your states require
Send us one statement and Dewey will tell you if your setup fits your crypto business.
Step 2
Optimized POS and payment setup
We set up the card checkout, verification steps and limits so the payment flow matches your licenses. Each step is documented so underwriting can follow the money.
Step 3
No long term contracts. No termination fees.
Crypto regulation keeps moving, so we keep you flexible. Every setup comes with no long term contracts and no early termination fees.
Step 4
Keep more of every swipe
Crypto statements often include cash advance style pricing, high fraud fees and cross border charges. We read the statement and show you where your costs come from.
Network rules for crypto
Visa places card absent crypto merchants, including exchanges, wallet providers and on ramp providers, under MCC 6051 or 6012 in Tier 2 of its integrity risk program, with transactions required to carry Special Condition Code 7.
Mastercard requires registration for cryptocurrency sales under MCC 6051, and its 2026 fee bulletin applies specialty merchant volume and transaction fees to crypto transactions identified by their own transaction type codes.
FinCEN and the money transmitter test
FinCEN's 2019 guidance explains that businesses accepting and transmitting convertible virtual currency are generally money transmitters subject to the Bank Secrecy Act. Money services businesses must register with FinCEN.
That brings a written anti money laundering program, suspicious activity reporting and recordkeeping. On off ramp crypto services that pay out to bank accounts carry the same duties.
On ramp crypto services embedded inside wallets and apps should explain which partner runs the purchase, because the license holder and the merchant of record must line up on paper.
State licensing
Most states require a money transmitter license, and New York requires a BitLicense from the Department of Financial Services for virtual currency business activity involving New York or its residents.
Underwriters map your licenses to the states your onboarding allows, the same way gaming files are mapped.
Fraud and scam disputes
Card funded crypto purchases attract stolen card fraud and disputes from scam victims who were coached to buy assets. Strong identity checks, wallet screening and velocity limits are what acquirers look for.
Visa lists excessive fraud under reason code 21 in its terminated merchant database, so fraud controls protect your future as much as your current account.
Compliance stack underwriters expect
A typical review asks for your BSA officer, the AML policy, your identity verification provider, sanctions screening, wallet screening through blockchain analytics, transaction monitoring rules and how you file suspicious activity reports. Bring independent audit results if you have them.
Explain limits for new users, such as lower first purchase amounts and waiting periods before withdrawal. Those controls directly reduce stolen card fraud.
Kiosks, marketplaces and wallets
Crypto kiosk operators, NFT marketplaces and wallet apps with a buy button all touch the same rules in different ways. Kiosks are often card present, marketplaces may act as agents, and wallets may partner with a licensed on ramp provider. Describe exactly who is merchant of record and who holds each license.
That clarity helps the acquirer apply the right code and registration from the start.
Off ramps and payouts
Platforms that convert digital assets back to dollars handle the other direction of the same flow. Payouts to bank accounts or cards must follow the same AML program, with screening of the receiving account and the source wallet.
Crypto on off ramp services should show how they stop funds from wallets flagged by sanctions screening or analytics. Documented holds, reviews and reporting are what an acquirer reads as maturity.
Customer support also matters: clear status pages for pending purchases and payouts prevent many disputes from users who think a transaction failed.
How we approach crypto payment processor files
We assemble your registrations, licenses, compliance program and fraud controls and present them to acquirers that register crypto merchants. Reserve terms come from the acquirer, in writing.
Platforms still collecting state licenses should list each pending application with its expected date, and limit onboarding to licensed states until each one is granted. A crypto on ramp that can show its license map, compliance program and fraud results on one page gives an underwriter everything needed to evaluate the business on its merits rather than its category, and that is the file we aim to build.
Dewey Kopenga, in payment processing since 2018, reviews every file himself before it goes to underwriting. Send a statement for a free review.
What to check on your crypto statement
We check these and every other line during a merchant statement analysis. New to statements? Read how to read a merchant statement.
- Cross border fees on domestic buyers
- Fraud screening fees on every attempt
- Chargeback fees from stolen card purchases
- Volume caps that slow growth
Related pages
Common questions
Still not sure? Ask us directly.
Is a crypto on ramp a money transmitter?
FinCEN's 2019 guidance treats businesses that accept and transmit convertible virtual currency as money transmitters that must register as MSBs.
What code do crypto purchases use?
Visa uses MCC 6051 or 6012 with Special Condition Code 7; Mastercard registers crypto under 6051.
Do I need a New York BitLicense?
For virtual currency business activity involving New York or its residents, New York DFS requires one.
Why do crypto purchases get disputed?
Stolen cards and scam victims, which is why identity and wallet screening matter.
Does a crypto payment processor need its own license?
Who needs what depends on who transmits value. Map each role in your flow to FinCEN and state licensing before applying.
Tear here: get your free statement review
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Prefer email? dewey@ledgerlinepos.com or call (656) 250-6939