Business Identities Version 2 (February 2025)

When onboarding a customer who is a business, There are additional steps needed in order to complete the KYB process. At a high level, the entity itself as well as the beneficial owners who hold a 25% or higher share of the company will need their information programmatically entered in through the API. If there are no beneficial owners over 25% the BO with the highest share of the company will need to go through the KYC process. The BO will need to have a personal identity created and obtain the KYC L2 level.

Beneficial Owners will need to be onboarded before creating the Business Identity. Please refer to our Personal Identity Guide for the onboarding process for the Beneficial Owners.

Beneficial Identity Creation

Once the Beneficial Owners are created and obtain KYC L2 the next step is to create the business identity. Be sure to add the Beneficial Owner's personal identity ID's to the beneficialOwnersarray. This field cannot be updated via the API after the business has been upgraded to L2 .

POST /api/compliance/v2/business-identities

{
  "companyName": "string",
  "dbaName": "string",
  "taxId": "string",
  "website": "string",
  "phone": "string",
  "email": "string",
  "description": "string",
  "establishedOn": "yyyy-mm-dd",
  "businessRegistrationNumber": "string",
  "countryOfFormation": "US",
  "stateOfFormation": "string",
  "address": {
    "street1": "string",
    "street2": "string",
    "postalCode": "string",
    "city": "string",
    "state": "string",
    "country": "US"
  },
  "mailingAddress": {
    "street1": "string",
    "street2": "string",
    "postalCode": "string",
    "city": "string",
    "state": "string",
    "country": "string"
  },
  "naics": "string",
  "naicsDescription": "string",
  "legalStructure": "llc",
  "otherLegalStructure": "string",
  "industry": "b2b",
  "otherIndustry": "string",
  "beneficialOwners": [
    "string"
  ]
}

Next business documents will need to be uploaded. Once uploaded our compliance team will review to approve or deny the business. Compliance business reviews typically take between 3-5 business days.

POST /api/compliance/v2/business-identities/{identityId}/documents

Required documents:

Please select one document type from each section below to upload for review.

Formation Document: (Name filing document, Certificate of Formation, Articles of Incorporation, Certification of Incorporation, Certificate of Partnership registration, Proof of Existence, etc.)
Agreement: (Operating Agreement, Bylaws, Partnership Agreement, Partnership Deed, Constitution/Statutes, etc.)
Tax ID Document: (EIN, Tax ID, VAT number, or equivalent)

Updating a Business

Once a Business Identity is L2 its data cannot be patched. Prior to that you can update fields with our PATCH endpoint.

PATCH /api/compliance/v2/business-identities/{identityId}
{
  "companyName": "string",
  "dbaName": "string",
  "taxId": "string",
  "website": "string",
  "phone": "string",
  "email": "string",
  "description": "string",
  "establishedOn": "2025-01-30",
  "businessRegistrationNumber": "string",
  "countryOfFormation": "string",
  "stateOfFormation": "string",
  "address": {
    "street1": "string",
    "street2": "string",
    "postalCode": "string",
    "city": "string",
    "state": "string",
    "country": "string"
  },
  "mailingAddress": {
    "street1": "string",
    "street2": "string",
    "postalCode": "string",
    "city": "string",
    "state": "string",
    "country": "string"
  },
  "naics": "string",
  "naicsDescription": "string",
  "legalStructure": "llc",
  "otherLegalStructure": "string",
  "industry": "b2b",
  "otherIndustry": "string",
  "beneficialOwners": [
    "string"
  ]
}