Bit1 Legal license

Important Notice

Many have chosen to support this new venture involving the founders and EndoTech despite ongoing challenges.  This is provided solely for informed decision-making. BitOne is in early/pre-launch phase—conduct your own research and consult professionals.

Key Due Diligence Summary Part 1

1. Legal Entities

– Primary: Bit1 Ventures S.A. (El Salvador) — Reg. No. 2025111396

– Secondary: Bit1 Ventures Inc. (Canada)

Unified under Bit1 Ventures S.A. for operations, domain, and tech.

2. Structure & Ownership

Simple structure: Bit1 Ventures S.A. (primary) with Bit1 Ventures Inc. as wholly-owned subsidiary (for MSB services).

Ultimate Beneficial Owner: Kevin Issac Cardona Marin (primary); Alex Lopez holds 0.5% (El Salvador director requirement). Direct ownership—no nominees or trusts.

3. Regulatory Status  

– El Salvador Bitcoin License: Active

– El Salvador DASP License: Final approval stages (recently expected imminently)

– Canada MSB (Virtual Asset Exchange): Active via Canadian entity

Authorized for global operations under current licenses; additional jurisdictions in progress.

4. Services

Authorized for spot/futures trading, charting tools, copy trading, execution services.

5. Compliance (AML/KYC)  

– KYC: Sumsub

– Transaction monitoring: Chainalysis (real-time KYT/AML screening)

Risk-based flagging and manual review/reporting as needed.

6. Fund Oversight  

– Pre-launch: ChainUp infrastructure (real-time reconciliation, treasury monitoring) + Chainalysis on-chain tracking

– Post-launch plan: Quarterly independent third-party audits for segregation and balances.

7. Payments & Banking  

– Fiat on-ramp: Alchemy Pay (Visa/Mastercard)

– Crypto: On-chain via ChainUp Custody + Fireblocks

– No traditional bank accounts currently (fully blockchain-based); banking partnerships in development (El Salvador, Canada, LATAM focus).

Disclaimer: Information is based on available details and subject to change.

Website link: https://limitless.ibportal.io/auth/register?e=cMUbMAUnbgkfsUoy/wsY9a3vuRNuUp1aeDZSO3i4zQM=&a=1