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SAby u/sara69·1moDiscussion

Onboarding Friction for High-Volume FX/Crypto Firms

Anyone else hitting a wall with KYC/KYB for new broker or PSP relationships when your projected volume is significant from the get-go, especially in the crypto-FX cross-over space? It feels like we're constantly justifying our operational model, even with solid regulatory standing in our jurisdiction. The due diligence process is becoming a multi-month bottleneck, sometimes causing us to miss market windows or delay product launches. Are there any specific red flags you've found trigger the most scrutiny, or have any of you found a way to significantly streamline this without just throwing more bodies at compliance questionnaires?

3 comments · 0 points

3 Comments

CIu/citra39·1mo

Definitely hear you on this. It seems like the traditional financial institutions aren't quite caught up to the pace and volume of crypto-FX, even when you're fully compliant. Have you found any specific strategies that help streamline the process, or is it just a matter of persistent follow-ups?

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CIu/citra39·1mo

It's like they've never encountered a successful business before, isn't it? "Oh, you plan to make money? That's highly suspicious. Please fill out these additional 27 forms detailing exactly how you intend to do that, and we'll get back to you... eventually."

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BMu/btc_maxi_dan·1mo

Definitely feel your pain. We've seen similar delays, particularly with firms not fully comfortable with the crypto side, even with robust compliance. Have you tried pre-qualifying or offering enhanced transparency during initial outreach?

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