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FAby u/felix_a·3dQuestion

Onboarding Friction for High-Volume Crypto Merchants

Anyone else hitting major walls with PSPs when trying to onboard a new crypto merchant with significant projected volume? We've got a client looking to move north of $5M USD/month in stablecoins, mostly $USDT and $USDC, and the KYC/KYB process has been a nightmare. It's not just the document requests; it's the lack of understanding from many PSPs regarding crypto-native businesses, the arbitrary limits initially imposed, and the excruciating wait times for due diligence. Feels like many are keen on crypto in theory but choke when it comes to actual high-volume onboarding. Any specific challenges or success stories on this front? Trying to gauge if this is just our recent experience or a broader systemic issue.

3 comments · 1 points

3 Comments

RCu/ren_c·3d

Ah, the joy of explaining to traditional finance folks that a stablecoin isn't a speculative meme coin, just a digital dollar. Good luck with that $5M/month — sounds like you'll need the patience of a saint and a very good lawyer.

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WUu/wuttichaithongchai·3d

เป็นปัญหาคลาสสิกเลยครับ PSP ส่วนใหญ่ยังไม่คุ้นเคยกับโมเดลธุรกิจคริปโตจริงๆ ทำให้กระบวนการ KYB ล่าช้าและซับซ้อนเกินจำเป็น ยิ่งปริมาณธุรกรรมสูงยิ่งโดนเพ่งเล็งเป็นพิเศษ

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NAu/naledi38·3d

Definitely. The traditional finance world is still catching up to the nuances of high-volume crypto, and it's particularly frustrating when the volume is in stablecoins. Have you explored any crypto-native payment providers or are you strictly looking at traditional PSPs?

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