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This guide covers the key steps for implementing KYB on the new USD rail for business users.

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Overview

The KYB (Know Your Business) flow for the new USD rail includes enhanced compliance requirements and streamlined document upload processes. Business users must provide comprehensive information about their company and all Ultimate Beneficial Owners.
The new USD rail requires using the updated flow. You must use the new documentation endpoint to upload business documents. Failing to do so will result in a 400 error when submitting the application.

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Step 1: Create a Business User

Before providing additional details, you must first create a business user with basic company information. POST /v2/users 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '{
  "type": "business",
  "businessName": "Acme Corp",
  "businessType": "c_corporation",
  "businessIndustry": "Technology",
  "registrationNumber": "12345678",
  "incorporationDate": "2000-01-01",
  "registeredAddress": {
    "addressLine1": "456 Business Rd",
    "city": "San Francisco",
    "stateProvinceRegion": "CA",
    "postalCode": "94105",
    "country": "USA"
  },
  "email": "business@acmecorp.com",
  "phone": "+1-555-555-5555",
  "taxIdentificationNumber": "98-7654321",
  "signedAgreementId": "2415fed7-ce1c-4752-a67e-8ed1bb4a1a0d"
}'
Response: 
{
  "id": "507bb845-47bd-5509-9514-9e5cfde140be",
  "type": "business",
  "email": "business@acmecorp.com",
  "name": "Acme Corp",
  "wallets": {
    "BUSINESS": {
      "POLYGON": {
        "address": "0x2a932E54e77Aeb698144550d5a493Ea99E20Daa8"
      },
      "ETHEREUM": {
        "address": "0xD1c767eaB34b3Cc2C33a354f6Ff2c20fCB98D3C0"
      }
    }
  }
}

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Step 2: Upload KYB Information

After creating the business user, you can provide the additional KYB information required for the USD rail. POST /v2/users/{userId}/kyb 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '{
    "businessDescription": "Software development and consulting services",
    "website": "https://acmecorp.com",
    "businessPurpose": "Technology services and software development",
    "expectedMonthlyVolume": "100000",
    "sourceOfFunds": "Business operations and client payments"
}'

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Step 3: Add Ultimate Beneficial Owners (UBOs)

For business users, you must identify and provide information for all Ultimate Beneficial Owners who own 25% or more of the business. POST /v2/users/{userId}/kyb/ubos 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/ubos \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '[
  {
    "firstName": "Jane",
    "lastName": "Smith",
    "email": "jane.smith@acmecorp.com",
    "dateOfBirth": "1985-06-15",
    "nationality": "USA",
    "ownershipPercentage": 60,
    "address": {
      "addressLine1": "789 Owner St",
      "city": "San Francisco",
      "stateProvinceRegion": "CA",
      "postalCode": "94102",
      "country": "USA"
    },
    "phone": "+1-555-123-4567"
  },
  {
    "firstName": "John",
    "lastName": "Doe",
    "email": "john.doe@acmecorp.com",
    "dateOfBirth": "1980-03-22",
    "nationality": "USA",
    "ownershipPercentage": 40,
    "address": {
      "addressLine1": "321 Partner Ave",
      "city": "San Francisco",
      "stateProvinceRegion": "CA",
      "postalCode": "94103",
      "country": "USA"
    },
    "phone": "+1-555-987-6543"
  }
]'

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Step 4: Upload Documentation

Business users must upload various documents including business registration, formation documents, and UBO identity documents.

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Upload Business Documents

POST /v2/files 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/files \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: multipart/form-data' \
     --form file='@articles_of_incorporation.pdf'

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Add Business Documents

POST /v2/users/{userId}/kyb/documents 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/documents \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '[
  {
    "type": "ARTICLES_OF_INCORPORATION",
    "fileId": "file_business_doc_123",
    "issuedCountry": "USA"
  },
  {
    "type": "BUSINESS_LICENSE",
    "fileId": "file_business_license_456",
    "issuedCountry": "USA"
  }
]'

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Upload UBO Documents

For each UBO, you must upload their identity documents: POST /v2/users/{userId}/kyb/ubos/{uboId}/documents 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/ubos/ubo_123/documents \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '[
  {
    "type": "DRIVERS",
    "subType": "FRONT_SIDE",
    "fileId": "file_ubo_doc_789",
    "issuedCountry": "USA"
  },
  {
    "type": "DRIVERS",
    "subType": "BACK_SIDE",
    "fileId": "file_ubo_doc_790",
    "issuedCountry": "USA"
  }
]'

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Step 5: Check KYB Requirements (Optional)

You can use the “Check KYB Requirements” endpoint to verify any missing or invalid information before submitting the KYB application. GET /v2/users/{userId}/kyb/requirements 
curl --request GET \
     --url 'https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/requirements?rails=USD' \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY'

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Step 6: Submit KYB

Once all required information has been submitted, you can now submit the KYB application to our new USD rail! POST /v2/users/{userId}/kyb/submissions 
curl --request POST \
     --url https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/submissions \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY' \
     --header 'content-type: application/json' \
     --data '{"rails":"USD"}'
Response: 
{
  "USD": {
    "status": "CREATED",
    "message": "Your KYB application has been successfully created. We will review it shortly."
  }
}

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Step 7: Retrieve KYB Status

After submitting the KYB application, you can retrieve the latest screening result. GET /v2/users/{userId}/kyb/status 
curl --request GET \
     --url 'https://sandbox.hifibridge.com/v2/users/507bb845-47bd-5509-9514-9e5cfde140be/kyb/status?rails=USD' \
     --header 'accept: application/json' \
     --header 'authorization: Bearer YOUR-API-KEY'

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Required Documents

For comprehensive information about required business documents, please refer to:

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Next Steps

🎉 Congratulations! The business user has been successfully onboarded. You can now proceed to:
Remember that the USD Rail has minimum transaction amounts: 10USDforUSDTand10 USD for USDT and 1 USD for USDC for both pay-ins and payouts. See the USD Rail Overview for more details.
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