Onboarding/KYB Friction with New PSPs for Crypto Payments - Anyone Else?

Hey everyone,

I've been looking into expanding our payment options to include more crypto solutions, specifically for stablecoin settlements. We're currently using a traditional acquiring bank for fiat and one established crypto PSP for $BTC/$ETH, but want to diversify and add a few more options to mitigate risk and potentially reduce fees on higher volume.

My issue is the onboarding and KYB process with some of the newer, more agile PSPs that specialize in crypto. It feels like a significant bottleneck. We've had instances where we've submitted all required documentation, answered multiple rounds of follow-up questions, and still experienced weeks of delays, sometimes even leading to outright rejections without clear explanations. This isn't with fly-by-night operations, but seemingly reputable firms. It's frustrating because the tech stack on offer is often superior, but getting through the initial hurdle is proving more painful than dealing with legacy banks at times.

Is anyone else experiencing this level of friction? Are there specific types of documentation or internal compliance frameworks you've found helpful to streamline this for your side? Or is it just the current state of play with crypto payments evolving so rapidly that compliance departments are struggling to keep up with their own due diligence processes?