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Overview

Bullring’s multi-currency architecture allows each subaccount to hold balances in all supported fiat currencies simultaneously. This design enables seamless operations across different regions without needing multiple accounts.
  • Unified Subaccount: A single subaccount manages accounts for USD, BRL, NGN, MXN, and other supported currencies.
  • Stablecoin Parity: USD balances maintain a 1:1 parity with stablecoins (USDC, USDT), bridging the gap between fiat and crypto.
  • Internal Conversion: Convert funds between currencies internally without initiating external blockchain or bank transactions.
For a full list of available currencies, see Supported Currencies.

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How Multi-currency Balances Work

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Independent Currency Balances

Each currency balance within a subaccount is isolated and tracked separately. There is no automatic conversion between currencies; balances update independently based on your specific deposit, withdrawal, and conversion actions.

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USD and Stablecoin Equivalence

The USD balance in a Bullring subaccount operates with a 1:1 relationship to stablecoins. This feature allows for the seamless movement of funds between crypto rails and traditional fiat systems.
  • Deposits: When you deposit USDC or USDT, your USD balance increases 1:1.
  • Withdrawals: When you withdraw funds as stablecoins, your USD balance decreases 1:1.
This equivalence provides crypto-native users the ability to interact with fiat systems (like local bank payouts) without requiring a traditional bank account in the US.

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KYC Requirements

Important: Users must complete the appropriate KYC/KYB level for each currency they intend to use.
Different currencies and regions have distinct regulatory requirements. A subaccount verified for USD operations may need additional verification to transact in BRL or NGN.
  • Verification Scope: Verification is often per-region or per-currency family.
  • Compliance: Attempting to transact in a currency without the proper KYC status will result in an API error.
For details on how to verify subaccounts, refer to the Onboarding guide.

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How to Use Multi-currency Balances

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Capabilities

  • View Balances: Retrieve the current balance for all currencies associated with a subaccount in a single request.
  • Convert Currencies: Exchange funds between supported currencies (e.g., USD to BRL) internally at current market rates. These conversions are atomic and instant, occurring entirely within the Bullring ledger.

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Relevant Resources

Integrate these capabilities into your application using the following API endpoints: