Sumsub

In partnership with

nota bene
Mercuryo
nota bene
Mercuryo

Free Report

State of Identity Verification in the Crypto Industry

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A data-driven study into verification practices among crypto businesses:

A data-driven study into verification practices among crypto businesses: checks, budgets, pass rates

  • checks
  • budgets
  • pass rates
State of Identity Verification in the Crypto Industry
  • 200 crypto companies surveyed

  • 100M+ checks analyzed

  • Expert content from top verification and crypto companies

Learn it straight

from top crypto firms:

Learn it straight from top crypto firms:

the biggest challenges facing the industry and best practices for resolving them. These unique insights will give you a data-driven advantage to win over your competitors

  • Verification performance stats
  • Verification processes insights
  • User profiles
  • Statistics on user behavior
  • Verification сhallenges
  • Verification best practices
  • Future trends in verification
  • Fraud statistics

Get ready to scale

in the near future

Get ready to scale in the near future

Get the report

“For a project to grow, it needs to balance regulatory compliance and pass rates.

In other words, the challenge is to avoid making the onboarding process too rigid, where users can drop-off, while keeping it secure enough to fight fraud and other financial crimes”

Peter Sever

Chief Strategy Officer, Sumsub

Key findings

Identity verification
best practices

84.3%

of crypto businesses
verify their users

79.7%

use automated KYC
solutions for verification

Verification time and pass rates
for automated solutions

1-3 min

average verification time
for 38.8% of businesses

70-90%

average pass rate for
42.9% of companies

Plans for scaling up

79.5%

of respondents plan to
enter new markets or
acquire new licenses

55.1%

of respondents plan to increase their verification budget in the next 12 months

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