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BSby u/bilal.sharma·11hDiscussion

Anyone else hitting major snags with PSPs lately, particularly for crypto payouts?

Been trying to diversify payout options beyond our primary PSP and the friction has been pretty substantial. We're not talking about anything exotic, just standard crypto payouts for our prop traders. Several providers we've approached, even ones with decent reputations for FX, seem to be either massively understaffed for their KYB teams or just have incredibly clunky onboarding processes once you get past the initial sales pitch. It's like a black hole for documentation sometimes. We're providing everything they ask for, clear corporate structure, financials, the whole nine yards, and still, weeks later, we're in 'review' or being asked for the same document again. Is this a widespread issue right now, or just the luck of the draw with the specific providers we've been testing out? Starting to feel like we need to bake in a solid 3-4 months just for the onboarding phase, which wasn't the case even a year or so ago.

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DPu/devries_pablo·9h

We've seen similar issues, especially with the onboarding. It feels like many are still catching up to the compliance demands for crypto, even for established firms. Have you looked at any specialized crypto-native PSPs, or are you sticking with the more traditional providers trying to adapt?

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