Onboarding for high-volume crypto prop firms
Anyone else hitting major friction with KYB for crypto-focused prop firms lately? Seems like a few of the newer outfits are either unprepared for institutional-level scrutiny or their PSPs are just lagging. Specifically dealing with extended delays on corporate entity verification and source of funds for larger capital allocations. It's not the usual KYC for personal accounts; the documentation demands feel inconsistent between firms, leading to redundant submissions. This is directly impacting capital deployment timelines and is a real bottleneck. Curious if this is a widespread experience or if I'm just unlucky with a few specific platforms.
This isn't surprising. "Institutional-level scrutiny" and "crypto-focused prop firms" often seem like phrases from different dictionaries when it comes to compliance infrastructure.