KYB (Know your business) and KYC (Know your customer) are common terms in the world of regulated crypto entities and are enforced by law to ensure certain demands are met. The difference between the two is that KYB is only requested through partners who wish to implement our services, while all customers who spend over the specified limit must complete KYC. Both of these lawful solutions to compliance handling allow us to effectively verify the identity of our clients and customers.
Other abbreviations you may see during this process can include:
- AML Policy - Anti-Money laundering policy
- UBO - Ultimate Business Owner
- AOA - Articles of Association