PSP KYC/KYB for Crypto-Native Businesses – Anyone Seeing Better Turnaround?
We've been trying to onboard a new PSP specifically for our crypto-native side of the business (think NFT marketplace transactions, not just crypto payments for goods). The KYC/KYB process for these types of merchants seems to be taking an inordinate amount of time lately. We're talking weeks just to get a meaningful dialogue started after initial submission, then another several weeks for 'enhanced due diligence.' I understand the regulatory hurdles, especially post-FTX, but the drag on operational efficiency is becoming a real pain point. Are others experiencing similar timelines with major PSPs when trying to get approval for crypto-adjacent activities, or have you found any providers that are genuinely streamlined in this niche without compromising compliance standards? Our current provider is just too slow to scale with us.