Know Your Business (KYB) FAQ
What's KYB?
KYB, short for "Know Your Business," is the process of verifying the identities of our institutional customers and any associated individuals with ownership or control, as well as understanding the nature and purpose of your institution’s relationship with OKX.
Why does OKX conduct KYB?
OKX is required to conduct KYB in accordance with financial crime regulations. KYB is a critical component of OKX’s Know Your Customer (KYC) measures and helps mitigate risks posed by financial crime, such as money laundering, fraud, and the financing of terrorism.
What's the KYB process?
The KYB process starts by asking you to provide a range of basic identifying information, such as your institution’s legal name, address, organizational structure, and the identities of key persons in your institution (among other relevant and verifiable information). This identifying information is supported with documentation, such as evidence of formation, organizational structure charts, and identity documents for key persons.
Once the KYB process has started, OKX will cross-reference your institution’s information and documentation in order to understand the nature of the intended relationship and verify the true identity of your institution and any key persons.
Learn more about the beneficial ownership of your institution here.