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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.

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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 is often per-region or per-currency family. 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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Common Use Cases

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Cross-border Business Operations

  • Collect payments in local currencies (BRL, NGN, MXN)
  • Maintain reserves in multiple currencies
  • Convert to preferred currency when needed
  • Send payouts in recipients’ local currencies

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Crypto-to-Fiat Bridge

  • Receive stablecoins (USDC/USDT) which are credited as USD
  • Convert USD to local fiat currency
  • Send fiat payouts to bank accounts
  • Related: Crypto Off-ramp

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Currency Risk Management

  • Hold multiple currency balances to hedge against volatility
  • Pre-convert to target currency before exchange rate changes
  • Match currency of revenue with currency of expenses

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Remittance Services

  • Collect in sender’s currency
  • Convert at optimal rates
  • Deliver in recipient’s local currency
  • Related: Remittance

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Multi-currency Workflow Example

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End-to-End Flow

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Step-by-step conceptual flow

  1. Fund the subaccount in any supported currency via deposits.
  2. Monitor balances across all currencies in the subaccount.
  3. Convert currencies internally as needed for your use case.
  4. Send payouts in the appropriate currency.