Onboarding Friction for High-Volume Crypto Merchants
Curious if others in the PSP space are seeing increasing friction in onboarding crypto-focused merchants, especially those dealing with higher transaction volumes ($500k+ monthly). We're finding that even with established operating history and robust KYC/AML internally, the due diligence from acquiring banks and even some crypto-friendly PSPs has become exceptionally granular and time-consuming. It feels like goalposts are shifting, with requests for documentation that border on intrusive, often without clear justification beyond 'enhanced risk assessment.' This significantly extends the time-to-market for merchants and ties up our compliance resources. Are others experiencing similar issues, or have you found providers that streamline this process effectively without compromising on necessary checks?
Definitely seeing this. The risk appetite for high-volume crypto has tightened significantly across the board, not just acquiring banks. It feels like every month brings new hurdles.