> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tracefinance.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Open an account

> Choose between a named account held in the owner's name and a Trace Finance-issued virtual account, then follow the matching journey.

## Overview

Every account in Trace Finance is multi-currency: crypto support is always included, and you declare which fiat assets (like BRL) to enable when you create the account. For each fiat asset you also choose an account type, and that choice determines who holds the account and which compliance documents apply.

There are two fiat account types:

* **Named accounts** are held in the account owner's name. Use `NAMED` for residents and `NAMED_NON_RESIDENT` for non-residents.
* **Virtual accounts** are issued by Trace Finance. Use `VIRTUAL`.

The onboarding mechanics are the same for both. You create the account, upload documents, register beneficial owners for company accounts, submit for review, and retrieve funding instructions once each asset activates. What changes is the account type you request and the set of compliance documents you provide.

## Prerequisites

* Valid [authentication credentials](/guides/authentication).
* Account owner details: legal name (or first and last name for an individual), tax ID, industry, and address.

## Steps

Pick the account type that matches how the funds will be held, then follow that journey end to end.

| Attribute         | Named account                                               | Virtual account                                                 |
| ----------------- | ----------------------------------------------------------- | --------------------------------------------------------------- |
| Who holds it      | The account owner (`NAMED`, `NAMED_NON_RESIDENT`)           | Trace Finance (`VIRTUAL`)                                       |
| Typical use       | Funds held in the owner's own name                          | Own treasury, intercompany flows, proprietary commerce          |
| Compliance        | Baseline plus segment-specific documents                    | Baseline only, unless the owner is a regulated payment entity   |
| Full requirements | [BRL named accounts](/guides/compliance/brl-named-accounts) | [BRL virtual accounts](/guides/compliance/brl-virtual-accounts) |

<CardGroup cols={2}>
  <Card title="Open a named account" icon="user" href="/journeys/open-named-account">
    An account held in the owner's name, with baseline plus segment-specific compliance.
  </Card>

  <Card title="Open a virtual account" icon="building" href="/journeys/open-virtual-account">
    A Trace Finance-issued account for your own treasury and intercompany flows.
  </Card>
</CardGroup>

## What happens next

* [Make a deposit](/journeys/deposit) — fund the account with BRL or crypto.
* [Execute a swap](/journeys/swap) — convert between the account's assets.