Supported Activities

Disclosure of High-risk Activities

Customers must inform Scallop if they are involved in any high-risk or prohibited activities.

High-risk Industries

During onboarding, it's crucial to disclose the following activities as Scallop rigorously evaluates businesses involved in them. Detailed information upfront aids compliance with regulatory and ethical standards, helping Scallop understand your business and potential risks.

• Money Services (i.e., check cashing, gift cards, ATMs, remittances)

• Lending or Banking

• Operate Foreign Exchange, Virtual Currencies Brokerage, or OTC

• Hold Client Funds (i.e., escrow)

• Investment Services

• Safe Deposit Box Rentals

• Marijuana or Related Services

• Tobacco or Nicotine Products

• Pharmaceuticals

• Third-Party Payment Processing

Prohibited Industries

Scallop cannot onboard businesses from these industries:

• Adult Entertainment

• Gambling

• Unlawful or abusive activity

• Fraud

• Intellectual property infringement

• Investment or credit services

• Check cashing

• Bail bonds

• Collections agencies

• Counterfeit or unauthorized goods

• Drugs and drug paraphernalia (including pseudo pharmaceuticals)

• Substances designed to mimic illegal drugs

• Adult content and services

• Multi-level marketing

• Unfair, predatory or deceptive practices

• Undisclosed money services

• Undisclosed money transmission

• Weapons / firearms