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Restricted businesses

Swan builds infrastructure for businesses to embed financial services. Most types of companies can embed banking services with Swan, but some aren't allowed. We must also follow all local laws and rules from banks, payment networks, and regulators.

Swan assesses each business individually. The decision is risk-based, not preference-based. Swan won't work with industries that could harm the reputation or finances of Swan or its partners.

Use this list to understand how your business activity may affect onboarding and to explain the process to your users. This list doesn't determine in advance whether Swan will accept your business activity.

List may change

Swan may update this list when regulations, provider requirements, or applicable rules change. Businesses whose activities don't appear on this list may still be rejected.

Restricted businesses are categorized into two groups:

Activities Swan doesn't support​

Adult entertainment and sexual services​

  • Adult entertainment
  • Prostitution and escort services

Crypto-assets and digital value​

  • Crypto ATMs: Physical machines or kiosks that let users buy or sell cryptocurrency using cash or a payment card.
  • Crypto Asset Service Providers (CASPs): Businesses that professionally provide crypto-asset services, such as exchanging, transferring, storing, or managing crypto-assets.
  • Cryptocurrency mixing: Services designed to obscure the transaction history of cryptocurrency.
  • Non-fungible tokens (NFTs): Blockchain-based tokens that represent or certify ownership or authenticity of a digital or physical asset.
  • Video games with an in-app currency component, including metaverse activities

Financial and payment activities​

  • Check cashing providers
  • Collection agencies
  • Company domiciliation services
  • Crowdfunding and crowd-lending
  • Currency exchange providers
  • Currency exchange providers (for example, foreign-exchange trading (FOREX))
  • Issuers and resellers of electronic money vouchers, prepaid cards, or gift cards
  • Microfinance providers (MFIs)
  • Money remittance providers
  • Non-licensed money service businesses
  • Non-licensed payment service providers (PSPs)
  • Online escrow payment services
  • Online pots service providers
  • Pawn shops
  • Proprietary trading (prop trading)
  • Shell banks
  • Trust and offshore company service providers
  • Unlicensed financial advisory

High-value goods and trade​

  • Freeports: Secure facilities where businesses can store or trade high-value goods before the goods leave the facility. Freeports may also be called bonded warehouses or customs-free zones.
  • Wholesale trade of uncut or unpolished gemstones or unrefined precious metals
  • Counterfeit goods

Extractive, chemical, and high-impact industries​

  • Coal mining
  • Commodity inspection
  • Electricity generation from coal-fired power stations
  • Illegal and unapproved drugs and pharmaceuticals
  • Industry and polluting chemicals
  • Marijuana and raw CBD culture, production, and distribution
  • Mining and extraction industry
  • Nuclear and radioactive material
  • Oil and gas extraction, refinement, transport, and distribution
  • Palm oil production
  • Pulp and paper production
  • Scrap metal dealing
  • Tobacco production and wholesale

Gambling and other business models​

  • Call shops, taxi phones, and internet cafes
  • Door-to-door sales
  • Gambling activities, including casinos, sports betting, and prediction markets
  • Get-rich-quick schemes
  • Multi-level marketing companies (MLMs) and pyramid schemes

Sectarian and esoteric activities​

  • Organizations known as sects
  • Psychic readings, hypnosis, clairvoyance, astrology, tarot, and esoteric activities

Weapons, military, and defense activities​

  • Armament research, development, and procurement
  • Defense contractors
  • Military activities
  • Military technology or equipment research, development, production, or sale
  • Weapons production and sale

Activities that may require additional review​

These activities may require additional information or documentation during the onboarding process.

Consumer, health, and regulated products​

  • Adult goods
  • Alcohol sales
  • Complementary and alternative medicine
  • Hemp textiles or body care products
  • Hunting equipment, excluding weapons, for example hunting clubs
  • Nutritional or sports supplements
  • Retail sale of CBD

High-value goods, trade, and resale​

  • Art and antique sales
  • Auctioneers, auction houses, and online bidding-based sales
  • Collectibles and memorabilia
  • High-value goods
  • Import-export businesses
  • Wholesale, business-to-business (B2B), or retail sale of cut gemstones or refined precious metals

Agriculture, food, energy, and waste​

  • Commercial farming, forestry, or fishing operations
  • Fast-food restaurants
  • Nuclear power generation
  • Solar energy and building renovations under MaPrimeRénov/CEE
  • Specialized waste management
  • Waste collection, treatment, and disposal

Financial and professional services​

  • Financial advisors, insurance, and financial intermediaries
  • Holding companies
  • Law firms and legal professionals
  • Licensed payment institutions and payment initiation services
  • Online barter
  • Professional real estate activities

Transport, security, and operational services​

  • Cargo, freight, and shipping operations
  • Civilian aviation and drone activity
  • Laundromats
  • Private security
  • Repair of motor vehicles and motorcycles
  • Second-hand automobile wholesale and retail
  • Second-hand mobile phone, computer, and electronic equipment
  • Street trading

Public-interest and social organizations​

  • Charities and nonprofit organizations
  • Embassies, consulates, and foreign diplomatic missions
  • Political organizations and campaigning
  • Professional sports clubs, federations, agents, and intermediaries
  • Religious organizations

Technology and aerospace​

  • Aerospace research and development
  • Dual-use technologies

Other business models​

  • Dropshipping
Eligibility

All Swan Partners complete a review process before going Live.

Learn more in the guide to activate a Swan project.

If you're unsure how to classify your activity, ask your Swan point of contact before you start onboarding.

For end-user guidance, see Restricted businesses in the Swan Support Center.