Onboarding Friction for Mid-Cap Crypto Liquidity Provider
Curious if others are seeing increased friction onboarding with larger, established institutions for crypto liquidity provision. Our latest experience with a tier-1 bank for a basic corporate account took over four months, mostly stuck in KYB / AML with an inability to properly assess our crypto-specific revenue streams and risk profile. It felt like they were trying to fit a square peg in a round hole, even with comprehensive documentation. This wasn't for derivatives, just spot $BTC and stablecoin flows. It's making me reconsider the push towards more traditional banking partners for what's still a rapidly evolving asset class. Are there any specific departments or smaller, more agile financial institutions proving more effective in this space? The alternative, using crypto-native banking solutions, often comes with its own set of counterparty risks and less robust regulatory oversight, which we're trying to move away from.