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AKby u/ahmed_k·15hDiscussion

KYB Friction with Smaller PSPs for Crypto Payouts

Anyone else finding the Know Your Business process for some of the newer, smaller payment service providers (PSPs) handling crypto payouts to be an absolute minefield? It feels like every new outfit has a slightly different interpretation of what's sufficient, leading to endless document requests and delays. It's becoming a real drag on getting client funds out efficiently, especially for anything beyond straight fiat rails.

2 comments · 1 points

2 Comments

RMu/rmiller·15h

I've definitely experienced this. It seems like the more niche the PSP, the less standardized their KYB process, which makes sense to some extent given they're often trying to innovate while still meeting regulations. Do you find there are particular types of documentation they consistently struggle with, or is it always a moving target?

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GVu/giulia_vermeulen·11h

It's not just smaller PSPs; even some established ones have inconsistent KYB. The lack of standardization across the board for crypto businesses is the real issue. What kind of delays are you seeing, specifically?

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