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Initial Setup

This guide walks you through setting up Fiat Controls for one fiat currency. The example uses the British pound (GBP).

Requirements​

  • A bank account for your exchange, to receive user deposits and send withdrawals.
  • Enough fiat and crypto liquidity in the markets you plan to offer.

1. Turn on Fiat Controls​

Go to Operator Controls → Exchange → Configuration → Features and turn on Fiat Controls. If your plan doesn't include Fiat Controls, you see an upgrade prompt instead; contact the HollaEx team.

2. Add the fiat currency​

Add the currency like any other asset: go to Operator Controls → Exchange → Treasury → Assets, click Add Asset and choose the currency from the Asset list. See Add a fiat currency.

If the currency you need isn't in the list, contact support@hollaex.com.

Once added, the currency shows in users' wallets. Users can't trade it yet: you also need a market or conversion for it (see Fiat Conversion with the OTC Desk).

3. Add a payment account​

A payment account defines the details a user must provide to withdraw fiat, for example their bank name and account number. You can also reuse it for the on-ramp.

  1. Go to Fiat Controls → Payment accounts and click Add Payment Account.
  2. Choose a template. Search by payment method or region, or click Add a custom payment method and give the payment system a name. Users see this name.
  3. Review the fields the template provides. You can edit a field's name, delete fields, and click Add more payment details to add one. For each new field, enter the Payment detail name and choose whether it's a Required field.
  4. Click Save Changes.

For a UK bank account, for example, you'd ask users for their account name, account number and sort code. The fields you need depend on the currency and country.

4. Add the on-ramp (deposits)​

The on-ramp is where users send fiat to deposit it. Its details are shown to users on the deposit screen of the fiat asset.

  1. Go to Fiat Controls → On-ramp. Your fiat assets are listed under Fiat Assets.
  2. Click Add On-Ramp, either at the top or beside the currency.
  3. Choose one of your saved payment accounts, or add a new one.
  4. Fill in your exchange's own details for that method, for example the account name, account number and sort code of your GBP bank account. Required fields must be filled in before you can save.
  5. Save the on-ramp.

You can add more than one deposit method per currency. An on-ramp can also be limited to verified or upgraded users.

5. Add the off-ramp (withdrawals)​

The off-ramp decides which payment accounts users can withdraw to.

  1. Go to Fiat Controls → Off-ramp.
  2. Click Add Off-Ramp and choose the fiat asset.
  3. Select one or more of your saved payment accounts.
  4. Save.

Users then add their own account of that type in their profile, and you verify it before they can withdraw to it.

Next steps​