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Partners

All CoindPay partners are required to complete KYB verification and compliance review prior to integration. The process includes validating company details, ownership structure, and key stakeholders.

Know Your Business (KYB) is a compliance process specifically geared towards businesses, similar to widely-used Know Your Customer (KYC) procedures for individuals.

As such, KYB constitutes a set of measures to obtain comprehensive information about business partners or clients. KYB is mandatory for financial and crypto platforms and is carried out according to their internal policies and legal requirements.

Documents:

The standard set of documents includes:

  • The company’s official extract from the business register

  • Information about the company’s ultimate beneficial owner (UBO)

  • Information about shareholders owning over 25% of the company’s shares

  • Information about the company’s director

The list of required documents may vary according to the policies of specific businesses. Companies licensed to work with crypto assets can also request confirmation of the welfare of beneficial owners, proof of source of income, and other documents to identify activities and their legal grounding, as well as the identities of business owners and other executives.

Additional information is collected via questionnaires, including but not limited to: average monthly and yearly turnover; a detailed description of business activities; and materials essential for establishing a legal relationship.

Licensed companies (payment or crypto service providers) impose more stringent requirements on customers during KYB and KYC procedures. For such companies, the standards for carrying out verification procedures are set by regulators while the state supervisory authority controls overall compliance.

For institutional clients and partners, KYB and compliance checks

Please send the relevant information to our Legal and Partner Services team based on this template. Once reviewed and approved, we will send you a draft Service Agreement.

Email Template

CoindPay KYB Requirements for Business Partners

Welcome to CoindPay! To ensure smooth onboarding and regulatory compliance, all business partners and clients are requested to complete the Know Your Business (KYB) and compliance verification.

1. Business Information

  • Legal company name, registration number, and country of incorporation

  • Registered office address and official website

  • Description of business activities and services offered

2. Beneficial Ownership

  • Full names of ultimate beneficial owners (UBOs)

  • Ownership percentages and roles within the company

  • Identification documents of all UBOs

3. Compliance & Risk Assessment

  • Screening against sanctions lists, Politically Exposed Persons (PEP) databases, and adverse media

  • Transaction monitoring setup for anti-money laundering (AML) purposes

  • Source-of-funds verification for initial and ongoing transactions

4. Merchant KYB Checklist

  • Submit company registration certificate and proof of address

  • Provide beneficial ownership and director information

  • Confirm transaction types, regions, and expected volumes

  • Acknowledge CoindPay’s AML/KYC policies

5. Information Update & Reporting

  • Notify CoindPay immediately of changes to ownership, business structure, or regulatory status

  • Submit updated KYB documentation whenever requested

  • Ensure all transaction information is accurate and up-to-date

6. High-Risk Activities Prohibition

  • Do not engage in transactions involving sanctioned individuals, entities, or jurisdictions

  • Avoid transactions with PEPs without prior approval

  • Comply with CoindPay’s AML/CTF policies to prevent illicit activity

7. Support & Assistance

  • For any questions regarding KYB or compliance requirements, contact CoindPay at:

8. Key Reminders

  • All KYB requirements are mandatory for account activation

  • Incomplete or inaccurate information may result in delays or denial of services

  • Compliance ensures smooth fiat-to-crypto payments and operational reliability

Note: This KYB template ensures your business is ready to use CoindPay services safely and legally. Keep all documentation accurate and submit promptly to avoid service interruptions.

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