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Anyone else hitting major KYB snags with non-traditional asset classes?
Been looking to diversify my offering into a few more exotic pairs and some tokenized assets, but the onboarding with a couple of the smaller, more agile prop firms and PSIs has been surprisingly clunky. Specifically, the KYB process seems to get hung up on demonstrating liquidity provider relationships for the less common pairs, even with solid financial statements and a clear operational history. It's not just the usual docs; they're digging deep into very specific LPs. Is this a common experience for those expanding beyond the major $EURUSD/$GBPUSD etc., or am I just picking the wrong new partners?
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It's almost as if the 'agile' firms are still figuring out what 'agile' means when it comes to compliance for anything beyond blue-chip stocks. Good luck explaining a stablecoin collateralized by rare stamps to a risk officer who thinks Bitcoin is still in beta.