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Know Your Business (KYB) Verification Process

   

Before your business can start using BK Pay to receive cryptocurrency payments, you must complete Know Your Business (KYB) verification.
This ensures your business is legitimate, secure, and compliant with all regulatory requirements.

Why KYB Matters

  • Protects against fraud and financial crime.

  • Ensures compliance with Anti-Money Laundering (AML) and Counter-Terrorist Financing laws.

  • Verifies your business ownership, structure, and key people.

Information & Documents You’ll Need

1. Company Details

  • Company Name – Registered legal name.

  • Registration Number – From CIPC or relevant authority.

  • Proof of Company Registration – Official CIPC registration certificate.

  • Date of Incorporation – Date business was officially registered.

  • Memorandum of Incorporation (MOI) / Articles of Association.

  • Share Certificates – Showing ownership structure.

  • Website & Contact Details – Must match your business identity.

2. Company Address & Banking

  • Proof of Address – Not older than 3 months (utility bill, lease, or bank letter).

  • Recent Bank Statement – Last 3 months.

  • Proof of Company Bank Account – For payouts (must be in the company’s name).

3. Ownership & Management

  • List of Directors – Including positions and contact details.

  • List of Ultimate Beneficial Owners (UBOs) – Anyone with more than 5% ownership.

4. KYC for All Directors & UBOs

  • Government-Issued ID or Passport.

  • Proof of Residential Address – Not older than 3 months.

  • Liveness Test – Quick online verification.

     

KYB Process Step-by-Step

  1. Submit Merchant Application
    Complete the merchant interest form on the Blockkoin website.

  2. Upload All KYB Documents
    We’ll provide a secure upload link for all required company and individual documents.

  3. Compliance Review
    Our compliance team verifies documents for accuracy, regulatory compliance, and matching details.

  4. Follow-Up (if required)
    If anything is missing or unclear, we’ll contact you for updated documents.

  5. Approval & Activation
    Once approved, your BK Pay merchant account will be live and ready for invoicing.

Tips for Faster Approval

  • Send all required documents together.

  • Make sure names and addresses match across documents.

  • Use clear, high-quality scans or PDFs.

  • Keep your contact person available for follow-up questions.