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Overview

Bullring’s multi-currency architecture allows each subaccount to hold balances in multiple fiat currencies simultaneously. Each currency is managed independently with its own balance. This design enables seamless operations across different regions without needing multiple accounts.
  • Multi-balance Subaccount: A single subaccount manages separate balances for USD, EUR, GBP, NGN, 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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Verification Requirements

Important: Subaccounts must complete verification to access currency operations. The scope of currencies and payment methods available depends on the documentation provided during verification.
Bullring operates a single verification process that unlocks access to different currency corridors based on the completeness and type of documentation submitted:
  • Capability 1: Access to USD, EUR, GBP, AED, CNY, BRL, GHS, ZMW via wire, ACH, and SWIFT rails.
  • Capability 2: Access to NGN (requires BVN), GHS, ZMW, BRL via local payment rails and mobile money.
Institutional accounts may have access to enhanced rates, higher limits, and dedicated support.
For details on how to verify subaccounts, refer to the Customer 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: