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Counterparty

Overview​

This guide outlines the steps required to create a counterparty with the type FIAT_US in our system. A counterparty in this context refers to any entity (individual or organization) that you engage with financially, such as for transactions. Specifying a counterparty as FIAT_US indicates that the entity deals in U.S. dollars and operates within the regulatory framework of fiat currencies.

Before creating a counterparty, ensure you do the following:​

Collect all necessary information about the counterparty, including legal name, address, and any relevant financial information specific to U.S. operations.

Steps to Create a Counterparty​

1. Collect Counterparty Details​

Gather all necessary details of the counterparty:

  • Legal Name
  • Business or Residential Address in the U.S.
  • Contact Information (email, phone number)
  • Tax Identification Number (TIN) or Social Security Number (SSN) for U.S. entities or individuals
  • Bank Account Details for transactions in U.S. dollars

For all the specifics required to create a counterparty, refer to the API link below.

2. Submit Counterparty Creation Request​

Using the API, submit a request to create a new counterparty.

Endpoint:​

3. Verification​

Upon successful submission, the system will process your request. The counterparty will be created immediately and you will receive a unique identifier for the new counterparty. But the status of the counterparty will be PENDING until the verification process is complete. If the verification fails the counterparty will be declined.