B2Broker Chooses Sumsub To Cover Clients’ KYC/AML Needs And Avoid Fines

FinanceFeeds Editorial Team

B2Broker, a leading technology and liquidity provider for the forex and crypto industries, has chosen Sumsub to help over 450 clients across 40 countries stay compliant.

Sumsub’s powerful platform enables verification routines to be adjusted according to international requirements in a few clicks.

B2Broker has a broad base of institutional customers across the globe, offering a full range of Forex, CFD, and cryptocurrency solutions. As B2Broker’s customers onboard users in various jurisdictions, keeping up with changing and tightening regulations concerning crypto can be a difficult and time-consuming process. In addition, finding a suitable provider is not always easy, therefore, B2Broker decided on Sumsub’s AI-powered solution to facilitate the process.

With Sumsub’s solution, B2Broker’s customers will be able to comply with international regulatory demands and avoid the possibility of big fines. Via the partnership, B2Broker and Sumsub will provide businesses with secure and easily customizable KYC and video verification checks – a process that takes just 3 minutes to complete. Sumsub will also be providing B2Broker with a crypto transaction monitoring service, ensuring that the sources of commercial crypto transactions are legitimate and free from money laundering.

The cryptocurrency market has soared recently, garnering a higher level of interest after its value topped $2 trillion this year. This has resulted in additional new investors to the industry across the world, leading to stricter regulatory regimes. Any violation of the rules can potentially cost businesses millions of dollars and could impact their ability to operate on the market. 

“With ever-increasing regulations, and as an industry-leading provider of crypto-related services, we take stringent steps to ensure our clients’ onboarding process fulfils all their obligations. Sumsub’s solution will ensure that our clients are able to comply with international regulatory demands and avoid the possibility of substantial fines.”—Arthur Azizov, Founder and CEO of B2Broker.

“The crypto industry has been generating a lot of interest recently. This means that crypto platforms need to be increasingly careful about who they onboard and how. We are excited to be partnered with B2Broker, helping hundreds of businesses tackle security and regulatory compliance through time-saving automation”,—Jacob Sever, Co-founder of Sumsub.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.