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Fiat Controls

Fiat Controls let your users deposit and withdraw fiat currencies, such as USD or GBP, through your exchange's own bank or payment accounts. Money moves outside the exchange, bank to bank, and an operator approves each deposit and withdrawal in Operator Controls.

You manage them under Operator Controls → Exchange → Treasury → Fiat Controls, which has five tabs:

  • Summary: recent pending fiat deposits and withdrawals to validate or dismiss.
  • Payment accounts: the types of payment account (for example a bank account) and the details users must provide to withdraw.
  • On-ramp: for each fiat asset, the deposit details shown to users.
  • Off-ramp: for each fiat asset, which payment accounts users can withdraw to.
  • Fiat Fees & Customization: deposit and withdrawal fees and limits per fiat currency and payment method.
warning

Fiat Controls rely on you holding enough liquidity in the fiat and crypto assets you offer. HollaEx does not provide liquidity through its liquidity-sharing system for markets that use fiat currencies.

How deposits work​

  1. A user chooses Deposit on a fiat asset in their wallet and sees your exchange's deposit details.
  2. The user transfers the money from their bank, outside the exchange, and submits a deposit request with the payment reference.
  3. The request appears as a pending deposit in Fiat Controls → Summary.
  4. Someone on your team checks that the money has arrived in your account.
    • If it has, validate the deposit. The user receives the amount minus your deposit fee. These fiat credits are minted (newly created); they aren't transferred from an operator account.
    • If it hasn't, or the amount is wrong, dismiss the request and contact the user if needed.

How withdrawals work​

  1. The user adds a payment account (for example their bank details), which you verify.
  2. The user chooses Withdraw on the fiat asset and requests a withdrawal to that account.
  3. The request appears as a pending withdrawal in Fiat Controls → Summary, with the user's payment details.
  4. You send the money from your exchange's account to the user's account, outside the exchange.
  5. You validate the withdrawal, and the user's fiat credits are burned (destroyed).
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Your exchange's bank account must hold enough fiat to cover the withdrawals you expect.

Guides​

Prefer a payment provider? On/off-ramp plugins such as Transak, Onramper and Banxa handle payments for you. See Fiat & Bank Integration to compare the options.