KYB Service - FAQs for Customers

1. What documents are required for the KYB process, and what standards apply?

The required documents and standards for the KYB process are outlined in detail on our support page. Please visit the following link for more information: Understanding the Blockpass KYB Verification Process.

2. Do you offer a standalone KYB plan?

Currently, KYB is an add-on feature of the Enterprise Plan. You'll need to subscribe to the Enterprise Plan with a minimum monthly fee to access it. The KYB fee is deducted from the minimum amount, but any additional usage is charged separately.

3. What is the maximum number of KYB verifications that can be processed daily?

We typically handle 7-9 KYBs daily, depending on the complexity of the business. This includes the initial verification of (re)submitted data. Requesting additional documents can extend the timeline. Issuing a report generally takes several days to two weeks.

4. Can multiple KYB verifications be processed simultaneously?

No, KYB verification is a partly manual process handled by our KYB Analysts. We review new submissions and updates daily, verifying each case separately.

5. What happens if a KYB verification fails? Are there extra charges for retries?

The KYB process consists of a maximum of two reviews: an initial review and, if necessary, a second review after remediation. Once the second review is completed, the report is finalized. If additional remediation is needed beyond this, it will be treated as a new KYB application, which includes two new reviews, and will be charged as a new process.

6. Are there extra charges for verifying complex company structures with multiple layers?

Each KYB process includes verification of one applicant company (Business User) and their UBOs based on their organizational chart. For additional layers (e.g., parent companies), if required to be verified by customers, each layer is considered a separate applicant and will incur a separate KYB fee. This should be agreed upon beforehand.

7. Can I submit a KYB profile on behalf of a Business User?

We recommend Business Users submit their profiles directly via the KYB form. However, in specific situations, we can provide you with a secure link for data submission.

8. Can Blockpass collect and verify the wallet addresses of Business Users?

Wallet address collection and verification are not part of the standard KYB Form. However, if required, Blockpass can include this as an additional step in the verification process. The results will be provided in the KYB report.

9. Can the KYB Form be customized?

No, the KYB form follows our verification standards and cannot be customized currently.