KYC for companies

Verify your corporate identity to deposit or withdraw fiat from the blockchain

This section explains the KYC process for companies - also known as KYB (Know-your-business).

Step 1: create and verify identity of a company

Companies must be represented by an individual who will act as the company's owner and have accountability over the corporate account. Other individuals may be associated as Company Officers.

Start by following the previous step, with some minor differences:

  • identityType - Companies must set this parameter to "company";

  • companyOfficer - This parameter must be set to false

  • identityOwner - Id of the identity who “owns” the company identity

  • tax(formationRegion) - State where the company is taxed

If you want to associate multiple persons to a company you should create them all here.

Step 2: create relationship between identities

With both an individual's and a company's identities created you can establish a relationship between them.

To do that, you should use POST /identity-relations/:{companyIdentityId} endpoint.

Optional: check verifications status

At this point, a verification will be created (this may take a moment). You can then optionally check the status of the verifications by making a GET call to the /verifications/identity/:id endpoint.

Step 3: associate documents with company's identity

With the identity created, then it’s time to associate documents so that we can verify the validity of the data you inserted. This process is similar to the same step of the KYC for individuals.

Step 4: verify company's KYC status

After you submit the documents, they're automatically sent to our KYC provider for verification.

Please note that the result may take some time - ranging from a few minutes to a few days depending on the country/state/region of your company's incorporation and fiscal/legal residence.

You can check the status of your identity through the GET /identity/:id endpoint.

To check if KYC was successful, make a GET request to the /identities:id endpoint and pass the id of the identity as a parameter along in the body. If verificationStatus = true then you've passed it.

Alternatively, if you're a user who manages multiple identities, you can make a request to your /identities endpoint and then filter the results by verificationStatus: true.

That's it - your company is now ready to do business on Public Mint!