Corporate Identity Verification
Corporate Identity Verification, often referred to as Know-Your-Business (KYB), is a vital procedure designed to establish accountability for corporate entities. This process emphasizes transparency and legitimacy by authenticating the validity of company documents and ensuring that the entity is legitimate.
Maintaining trust, safety, and the integrity of corporate records is fundamental. XBBIT is dedicated to upholding the highest standards of compliance. We believe that compliance is pivotal to the widespread acceptance of digital currency. Hence, XBBIT collaborates with several top-tier compliance and anti-money laundering providers. This collaboration empowers us to promote global financial inclusion by eradicating barriers, such as geographical constraints, via advanced corporate identity verification methods.
What is KYB?
KYB, standing for "Know Your Business," is a rigorous verification process employed by XBBIT to confirm the legitimacy of the corporate entities using its platform. Analogous to the KYC (Know Your Customer) procedure for individual users, KYB is tailored specifically to ensure businesses are genuine and to prevent undesirable financial activities. It underscores XBBIT's commitment to maintaining a secure, transparent, and trustworthy trading environment for all its corporate clients.
What Information Does My Company Need to Provide for XBBIT's KYB Process?
When engaging with XBBIT, your company may be asked to furnish the following data and documentation:
Business Registration Details: This should encompass the company's official registration number, its date of inception, registered address, and the country where it was incorporated.
Company Ownership Structure: Insight into major stakeholders, the ultimate beneficial owners, and the proportion of their shares.
Key Company Personnel: Data pertaining to significant company figures like directors and executive officers.
Financial Insights: Recent financial statements or other relevant financial documentation that offers a peek into the company's fiscal well-being.
Nature of Business Operations: A description of the primary business activities, intended markets, and client demographics.
Licenses and Accreditations: For businesses in particular sectors, evidence of required licenses or authorizations may be necessitated.
Address Verification: Recent utility bills or bank statements reflecting the business's official address.
Banking Details: Information about the principal bank account(s) of the company.
Primary Contact Data: The main communication channels, which include phone numbers and email addresses.
Origin of Funds: A transparent explanation detailing the sources of the company's capital or funds.
For the full required document list, please refer to Documents Needed To Open A Corporate Account.