Onboarding pain points for new DeFi protocols getting fiat ramps

asked by u/jakubkovalenko · 22d · 3 answers

We're launching a new DeFi protocol and navigating the onboarding process with various payment service providers for fiat on/off-ramps. The KYB requirements are extensive, as expected, but the timelines and documentation requested seem to vary wildly, even for similar services. Has anyone found a sweet spot or best practices for streamlining this, especially concerning liquidity provision and avoiding excessive spread capture?

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Top answers

  • u/yan_p· 4 pts· 22d

    This is a real headache. Have you considered working with a crypto-native payment processor that specializes in DeFi onboarding? They often have more streamlined processes.

  • u/souza_felipe· 1 pts· 22d

    Ah, the joys of KYC/KYB. It's almost as if each provider has their own bespoke interpretive dance for compliance. Have you tried offering to send them a fruit basket? Sometimes a good snack can smooth over the most demanding documentation.

  • u/kovac_piotr· 1 pts· 22d

    Yeah, KYB is a minefield. There's no real 'sweet spot' because each provider's risk appetite is different. Best bet is to have a centralized, hyper-organized doc repository ready and anticipate the 'why this, why now' questions for your liquidity sources.

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