Crypto pushes identity verification beyond KYC and into the transaction

A Regula Forensics report found 44% of identity verifications at crypto firms involve AI or automation, versus 31% in other sectors. 62% of crypto firms can fully reconstruct identity decisions, and 87% face external requests to explain them. Sumsub launched its Reusable KYC Gateway with MiniPay as first integrator, while Beyon Connect integrated Bahrain's Rain exchange into eKey 2.0.

• 44% of crypto identity checks involve AI or automation, versus 31% in other sectors
• 62% of crypto firms fully reconstruct identity decisions, versus 49% elsewhere
• 87% of crypto firms receive external requests to explain identity decisions
• MiniPay: verification conversion rose from 70% to 95%, KYC time fell by up to 50%