How to Complete Institutional Verification (KYB)

 

AU Site KYB Certification Documentation

Institutional Verification (Know Your Business - KYB) is apart of KuCoin's dedication to regulatory compliance and combating cybercrimes like fraud, money laundering, scams and terrorist financing. It is an extension of the KYC (Know Your Customer) procedures. Here’s a detailed guide on how to initiate Institutional Verification (KYB) via the KuCoin platform.

 

 

KYB Certification Process Overview

The KYB verification process consists of three levels:
  1. Basic Verification
  2. Advanced Verification (which unlocks our derivatives product for retail clients)
  3. Wholesale Verification (which allows the user to be considered a 'Wholesale Client' for the purposes of the Corporations Act 2001).
Important Note: Before proceeding to Advanced or Wholesale Verification, users must first complete Basic Verification successfully.

 

 

Before proceeding with the verification, it's handy to have prepared the following documents:
  1. ASIC Company Extract – historical (dated no later than 30 days) - (for Company or Corporate Trust clients)
  2. Memorandum and Articles of Association - (for Company or Corporate Trust clients)
  3. Latest financial statements (if applicable) - (for Company or Corporate Trust clients)
  4. Company’s bank statements (within last three months) - (for Company or Corporate Trust clients)
  5. Certified Copy (certified within the past 12 months) of the Trust Deed and any amendments to the Trust Deed - (for Individual Trust or Corporate Trust clients)
  6. Australian Driver's Licence or Passport for all directors, individual trustees and authorised trading representatives who may operate the account, as well as shareholders & underlying beneficial owners (with a shareholding of 25% or more).
  7. Registration or Licence documentation if the entity is licensed with a regulatory body such as ASIC (for AFSL holders), AUSTRAC or APRA.
  8. a board resolution to open account with us (for which we provide a template)
  9. a board resolution authorising any operator of the account that is not a Director or Trustee (for which we provide a template)
  10. If applying for Wholesale Verification - A Wholesale Certificate completed and signed by an accountant of one of the prescribed accounting professional bodies (CA ANZ, CPA Australia, IPA) within the past 6 months. (for which we provide a template)

 

 

Contact Information

For KYB document submission or verification inquiries, users can contact the AU Site KYB Verification team at:
 
Email:  institutional_kyc@kucoin.au