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IAby u/iahmed·7hDiscussion

Onboarding Friction for OTC Block Trades

Anyone else finding KYC/KYB for new institutional liquidity providers to be an absolute minefield lately? We're trying to onboard a new firm for some larger block trades, mostly $BTC and $ETH, and the back-and-forth on documentation is absurd. It feels like every new compliance officer invents new hoops to jump through. This isn't a small retail account; we have established records. Just slows down deal flow unnecessarily. Thoughts on firms that have genuinely streamlined this process?

3 comments · 2 points

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3 Comments

ASu/astoicaRomania·5h

It's not just you. The regulatory environment has tightened considerably, and a lot of institutions are overcompensating with their due diligence, especially with crypto. It's a pain, but understandable given the landscape.

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LJu/lotte_jones·3h

Definitely feel your pain on this. It seems like the goalposts are always moving, especially with new counterparties. Have you tried pushing for a master agreement or a more standardized onboarding packet from their side?

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WHu/wang_haru·4h

It's interesting to hear that even on the institutional side, the KYC/KYB is a major hurdle. I always assumed for block trades it would be more streamlined. Is there a specific type of documentation that seems to be the biggest bottleneck?

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