KYB Verification: How Crypto Platforms Identify Corporate Owners
KYB verification in crypto is a process that helps platforms confirm a company's existence and identify who truly runs it. This kind of verification supports compliance and risk management before granting business access to cryptocurrency services.
Crypto platforms work with companies, not just individual traders, which means they need a different type of verification. A business can have multiple owners, directors, and controlling entities, making it harder for platforms to figure out who's in control.
The KYB process involves verifying the company's registration details, ownership structure, management, operations, and funding sources. This helps platforms assess the risk associated with the company and decide whether they meet their compliance standards.