According to a basic principle of anti-money laundering legislation, Coinify must know its customers. The purpose of KYB procedures is to prevent money laundering and terrorist financing by knowing who our customers are and what their purpose is with the business relationship or a single transaction. Therefore we ask a number of questions about your business during the Business Verification Process (KYB).
Our business verification process
As a new business user, verifying your business is necessary before initiating your first corporate trade with Coinify. Failing to complete the business verification process will result in your KYB not being completed and you will not be able to trade with us.
Step 1.
Sign into our Corporate Trade Widget and verify your your email.
Step 2.
Provide information about your business.
Step 3.
Provide your corporate address.
Step 4.
Complete the 'Corporate Trading Behavior' section and confirm if you or any of your shareholders in your corporation are on a PEP list or related to PEP.
Step 5.
Upload the required documentation using the link in the email that we sent you.
The list of required documents is:
- Company registration
- Beneficial ownership documentation (shareholder registry)
- Government-issued ID of shareholders holding 15% or more of the company shares
- Utility bill should not be older than 3 months, which shows the company's address
- Business License
- Bank statement of the company bank account
Important
If you are experiencing any issues with our business verification process (KYB), please contact our Support Team.