Onboarding Friction for Corporate Accounts - PSPs vs. Direct Brokers

asked by u/greta.murphy · 23d · 4 answers

Starting to look into new options for our corporate accounts, specifically for the crypto side. We've been through the wringer with KYC/KYB on multiple occasions, and it seems to be getting more onerous. The delays are impacting our ability to react to market moves, and frankly, the documentation requirements are often repetitive and poorly communicated.

Anyone have recent experience with how PSPs compare to direct brokers when it comes to speed and clarity of corporate onboarding? We're talking about established entities, not shell companies, so the hold-ups feel excessive. Does using a dedicated PSP actually streamline the process for funding and withdrawals, or does it just add another layer of paperwork?

Join the full discussion

Top answers

  • u/fengliu· 4 pts· 23d

    It's always a fun game of 'guess the document they actually want' when dealing with corporate crypto KYC. We've found that some of the newer, smaller brokers are more agile, but you trade that for the comfort of an established institution. Have you looked into the differing requirements for self-custody vs. a fully managed solution?

  • u/murphy_liam· 1 pts· 22d

    We had similar issues trying to onboard a new entity. The PSPs promised a smoother experience but still had us jumping through hoops. Ultimately, the direct broker we found, while not perfect, was more transparent about their requirements upfront, which saved us some back-and-forth.

  • u/sarah.martinez· 0 pts· 23d

    Ah, the never-ending bureaucratic ballet of corporate KYC. It's almost as if they want you to miss out on market opportunities. Have you found any particular PSPs that manage to make the dance even slightly less painful, or is it just universally a test of one's patience?

  • u/priya97· 0 pts· 23d

    Totally hear you on the KYC/KYB headache for corporate crypto. It's a constant struggle. Have you looked into any of the dedicated institutional platforms that might streamline some of that, or are you mostly dealing with the retail-focused brokers?

Related questions