vIBANs issuing and fiat offramp & onramp solution in Iceland
vIBANs issuing and fiat offramp & onramp solution in Iceland
- Striga
- 4 min read
Learn how to integrate vIBAN issuing, fiat onramp & offramp, and a native fiat wallet into your crypto product. Provide a seamless onramp/offramp solution for your end-users.
How to embed vIBANs and fiat wallets into your crypto app?
How to embed vIBANs and fiat wallets into your crypto app?
- Striga
- 4 min read
Table of Contents
You can issue crypto wallets for your users using Striga’s APIs. Each wallet contains multiple accounts like BTC, ETH, USDC, etc with deposit credentials and these accounts can also be linked to payment cards.
Onboarding Users and offering them a custodial wallet
Users have to be onboarded and fully verified before a wallet is provisioned. They have to go through email, phone, and KYC verification. As soon as the user passes the KYC, a default wallet is provisioned with access to financial instruments such as IBANs, crypto deposit addresses, and cards. More details here on the onboarding flow.
Creating a wallet with vIBAN and a fiat wallet
Once a user is verified successfully, a default wallet is created for the user. A wallet contains a collection of accounts and you have the option to select the currencies you want to enable for your users. Each account can be then enriched with IBANs or Crypto Deposit Addresses.
Striga offers a few models to build your application. In the Crypto as a Service model, you can onboard users, create dedicated crypto deposit addresses, issue vIBANs and let them trade against fiat currencies.
In the Crypto and Banking as Service model, additionally to the services of Crypto as a Service model, you can issue branded VISA payment cards to your users. These cards can be linked to any account in any currency. This is helpful if you’re building a neobank or off-ramp application where you would like your users to spend crypto directly without having to top-up a card.
There’s also an optional DeFi as a service, where specific “DeFi” wallets are provisioned for your application from which smart contract calls can be made via API.
More information can be found here.
Moving money through crypto & fiat wallet
Striga supports three types of transactions on the platform. Users can do intra-ledger, inter-ledger, and swap exchange currencies and all transactions are subject to two-factor authentication. More details here about moving money around.
Striga offers a few models to build your application. In the Crypto as a Service model, you can onboard users, create dedicated crypto deposit addresses, issue vIBANs and let them trade against fiat currencies.
In the Crypto and Banking as Service model, additionally to the services of Crypto as a Service model, you can issue branded VISA payment cards to your users. These cards can be linked to any account in any currency. This is helpful if you’re building a neobank or off-ramp application where you would like your users to spend crypto directly without having to top-up a card.
There’s also an optional DeFi as a service, where specific “DeFi” wallets are provisioned for your application from which smart contract calls can be made via API.
More information can be found here.
Dedicated BIN sponsorship for your crypto cards program
When a card is created, they need to be linked to an account and before it can be used, there must be funds available to use. By default, the currency for all cards is EUR but it can change to any other accounts enabled in the wallet. More information about cards is here.
Conclusion
Instead of connecting with multiple providers to offer different services and building the wallet infrastructure from the ground up, you can create and offer a crypto wallet to your users just by connecting Striga APIs. Your users can on/off ramp seamlessly in these wallets and can also link cards which can then be used like regular bank cards. Striga also takes care of compliance and regulations.
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