Bitso Business has partnered with Sumsub, a global full-cycle verification provider, to automate its corporate onboarding and reinforce its business compliance framework.
The tie-up will see Bitso replace a largely manual verification process, in which reviewing corporate documents could stall onboarding for days at a time, with an automated pipeline designed to accelerate approvals for legitimate corporate entities. The move comes as FinTechs across the industry grapple with sharp client abandonment rates whenever sign-up journeys are burdened with manual document requests, repeated re-uploads and layered jurisdictional requirements.
Under the agreement, Sumsub will automate the bulk of Bitso’s business onboarding architecture end to end. The platform brings real-time cross-referencing against corporate registries, automated data extraction for Ultimate Beneficial Owners (UBOs), and validation checks capable of flagging tampered documents. Screenings against international sanctions lists, regulatory watchlists and Politically Exposed Persons databases run automatically, consolidating compliance within a single platform. Sumsub has also rolled out new Business Verification capabilities, including automated company-level risk scoring, periodic rechecks and corporate document expiry tracking.
Bitso is Latin America’s leading cryptocurrency-powered financial services platform and a core financial infrastructure provider in the region, processing roughly 10% of all remittance volumes flowing from the US to Mexico. Its corporate segment serves large institutional clients that depend on fast cross-border treasury management and liquidity solutions.
The partnership responds to two pressures bearing down on Latin American FinTechs: fragmented, non-digitised regional registries and the growth of professional corporate fraud networks. Sumsub’s Identity Fraud Report 2025-26 documented a 180% global rise in coordinated, multi-step fraud attacks, while its analysis of Business Verification in LATAM found that unstandardised databases and complex UBO requirements have long been the chief causes of onboarding delays.
Both companies describe the deal as the opening stage of a longer-term relationship, laying the groundwork for Bitso to adopt further modules from Sumsub’s verification and compliance portfolio as it scales.
Bitso Strategic Alliances lead Alma Cervantes said, “For Bitso, security and compliance have never been negotiable; they have always come first. Our alliance with Sumsub reinforces this long-standing commitment by automating complex processes such as beneficial ownership mapping and business verification. Together, we are ensuring that the future of corporate finance in Latin America combines the speed of modern commerce with the strictest compliance standards in the market.”
Sumsub Country Manager for Mexico Miguel González said, “In Latin America’s fast-evolving B2B ecosystem, platforms like Bitso cannot afford to let manual compliance hurdles slow down institutional growth. Our automated KYB technology solves the unique challenge of fragmented regional registries and complex UBO layers in real time. By selecting Sumsub, Bitso ensures that legitimate businesses experience a swift onboarding path, while its robust digital asset infrastructure remains completely secure against sophisticated fraud networks.”
Copyright © 2026 FinTech Global
Copyright © 2018 RegTech Analyst
