Glossary

A group of 2 or more related bodies corporate. Two bodies corporate are related if any of the following apply:

• one is a holding company of the other
• one is a subsidiary of the other
• one is a subsidiary of a holding company of the other.

Digital currencies that use cryptography to secure and verify transactions. Such as Bitcoin, Ethereum and Dogecoin. They’re based on a blockchain network. 

Involves one financial institution (the correspondent) providing banking services to another financial institution (the respondent), where both institutions are based in different countries.

Under this arrangement, correspondent banks may provide the respondent bank a wide range of services, including but not limited to: 

• cash management (for example, interest-bearing accounts in a variety of currencies)
• international value transfers
• cheque clearing
• payable-through accounts and foreign exchange services.

Also known as cold storage, it’s a device or method for storing cryptocurrency private keys offline. This helps prevent theft by hackers.

Electronic kiosks that let you buy and sell cryptocurrency in exchange for cash or with a debit card. They connect with your virtual wallet rather than with your bank account like a normal ATM.