Verifying Business users (KYB)

Last updated: February 24, 2026

KYB (Know Your Business) is the verification process for business users to unlock fiat rails. It's similar to KYC but with additional requirements for legal entities.

KYB Process Steps

  1. Retrieve KYB requirements – Get required fields/documents for your target rail

  2. Update KYB information – Provide business details (name, address, registration number, tax ID, industry, etc.)

  3. Complete questionnaire – Answer source of funds, primary purpose, expected payments, high-risk activities

  4. Add Ultimate Beneficial Owners (UBOs) – Provide info for owners with >25% share (must include at least one DIRECTOR and one UBO role)

  5. Upload documents – Submit required business documentation

  6. Submit KYB – Send application for review

  7. Monitor status – Track progress (CREATED → PENDING → ACTIVE or REJECTED)

Submit KYB Information

  1. Navigate to Users in the left-hand menu.

  2. Click Create User and select the newly created profile.

  3. Go to the Compliance tab under the user.

  4. Enter the required KYB information.

  5. Review the required documents list and upload each document.

KYB must be submitted separately for each rail you want to unlock. Each rail (USD, Global Network, Africa, etc.) has its own compliance requirements. Submitting KYB for one rail doesn't automatically unlock others—you'll need to complete verification for each rail your users need access to.

USD Rail (Business)

CategoryRequirements

Business Info

Legal name, type, industry, registration number, tax ID (EIN for US), website, email, phone, incorporation date

Addresses

Business address + registered office address

Questionnaire

Primary purpose, source of funds, transmits customer funds, conducts money services, high-risk activities, estimated annual revenue, expected monthly payments

Documents

legalPresence (1), ownershipStructure (1), companyDetails (1), controlStructure (1)

UBOs

Required for owners >25% share; must include at least one DIRECTOR and one UBO role; identity docs required

Required Document Groups (USD Rail)

GroupDocuments

legalPresence

Incorporation articles/cert, state registry

ownershipStructure

Shareholder registry, trust agreement

companyDetails

Proof of address

controlStructure

Directors registry, trust agreement

Global Network Rail (Business)

CategoryRequirements

Business Info

Legal name, trade name, type, industry, tax ID, website, email, phone, incorporation date

Address

Business address

Questionnaire

Source of funds

Documents

All document groups are optional (legalPresence, ownershipStructure, companyDetails, controlStructure)

UBOs

Required; identity docs are optional

Common KYB Failure Statuses:

StatusMeaning

INCOMPLETE

Submitted data needs updates—fix flagged items and resubmit

RFI_PENDING

Compliance requested additional info—check your compliance email

REJECTED

Permanently denied—resubmission not permitted

CONTACT_SUPPORT

System couldn't confirm status—contact HIFI support