In today’s crypto landscape, compliance is non-negotiable. Whether you operate a B2B exchange, enable users to list tokens, or integrate a crypto widget into your platform — you’re part of a regulated ecosystem. And in that ecosystem, understanding the difference between KYC (Know Your Customer) and KYB (Know Your Business) isn’t just a checkbox — it’s a core business skill.
The Basics of Identity Verification
Most teams know KYC: verifying who your individual users are, screening for risks, and preventing fraud. But KYB goes a layer deeper — it verifies entire companies, their ownership, and legitimacy.
Why KYB is Crucial for Crypto Platforms
For crypto platforms, KYB becomes essential when onboarding business partners — like exchanges, liquidity providers, token issuers, or projects integrating your widget. Skipping KYB can expose your platform to regulatory penalties, reputational damage, or even fraud through shell companies.
Key Differences: KYC vs. KYB
Here’s a quick breakdown:
- •KYC = verifying individuals (names, IDs, addresses, sanctions checks).
- •KYB = verifying businesses (registration, UBOs, financial structure, corporate risk).