What is KYB?

KYB is Know Your Business: the checks you run on a company before you hold a balance for it. You identify the legal entity and the people who own or control it. KYC is the person. KYB is the entity. A marketplace that pays out to businesses needs both.

How does KYB work?

You collect the legal name, registration number, address, and beneficial owners. You screen the entity and the owners. You store who is allowed to move the company’s wallets. A pass on the company with no owners identified is an incomplete KYB.

KYB vs KYC

KYC verifies a human. KYB verifies an organization and the humans behind it. An organization identity in the ledger is the hook. The owners can be individual identities linked in your app. Do not stuff five directors into one metadata blob you never query.

When does it block the book?

Before the first inbound that is not a test, and before the first payout. You can open a zero wallet while review runs. You should not let that wallet receive live funds.

How it works with Blnk

Use an organization identity for the company and individual identities for owners. Link the company’s wallets to the organization. See identities.