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Why is a KYB verification required?

Updated over a month ago

ApprovalMax Pay is more than a payment tool — it's an integrated solution that helps you manage business payments safely by opening a dedicated Wallet (like a bank account) for each currency your organisation needs to transact in.

Each Wallet is created in your organisation’s name through our regulated financial partner, Currencycloud (a Visa solution).

Because these Wallets act like real financial accounts, regulatory authorities require KYB checks before issuing them. These checks are required under anti-money laundering (AML) and financial security laws.

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