Sumsub has unveiled Reusable KYC Gateway at Token2049 Singapore, with MiniPay, a fast-growing stablecoin wallet, signing up as the first live integrator to give its users a single identity check that works across its partner network.
The tool lets MiniPay customers prove who they are one time and then carry that verified status to every regulated partner within the ecosystem. MiniPay itself never has to hold, process or manage sensitive personal information such as identity documents. Gateway joins Reusable KYC Share as part of Sumsub’s broader Reusable KYC product range.
MiniPay is present in over 70 countries and has seen more than 20 million wallets opened so far. Because it is self-custodial, the wallet is not required to verify users directly. Its partners, which include on and off ramps, card issuers and payment providers, have historically each run their own KYC checks.
As a result, a single user could be asked to upload documents and take a fresh selfie every time they engaged a new partner, despite confirming the same identity within one ecosystem. Every repeated step created another opportunity for users to abandon the process, hurting partner conversion and wasting customer time.
Under the new model, a user prompted to verify can either draw on one of 15 million existing Sumsub IDs or complete a new check using an identity document and a selfie. They then give explicit consent to link that identity to their MiniPay account.
When they first engage a regulated partner, they approve sharing their identity with that firm, which receives the verified data straight from Sumsub ID. Partners can finish verification without showing extra screens, while still applying their own compliance rules and requesting further checks for higher-risk transactions.
Since the approach was introduced, MiniPay partners have recorded verification conversion climbing from around 70% to 95%, with KYC completion times cut by as much as 50%. Eight MiniPay partners already rely on Sumsub for verification.
Sumsub chief product officer Andrew Novoselsky said, “Repeated KYC checks across the same ecosystem are inconvenient for everyone, and one in three applicants we see have already verified with us before. Reusable KYC Gateway puts that reuse to work for MiniPay’s users, giving them a single verified identity that works throughout its entire partner network, with full control over what they share and with whom.”
Opera senior director of business development Murray Spark said, “Self-custody has always been central to MiniPay. Users hold their own funds, and now they also control their own verified identity. They decide what to share and with whom, and that matters more and more as our partner network expands across new markets.”
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