Fiat Settlement

Loop works with licensed liquidity providers and financial institutions to offer global currency support in one standardized API.

The steps to setting up fiat settlement are:

  1. Configure a payoutDestination as fiat
  2. Complete KYB or KYC
  3. Attach a bank account

Please note the countries, tokens and networks that Loop currently supports below. Loop charges an additional fee for these off-ramps. Please reach out for pricing.

Information to know

Loop needs to know if the receiving party is an business or individuals. If the party is an business, we do not need any additional information as we will use the name provided at entity or merchant creation. If the receiving party is an individual, we will need to know the first and last name.

The response to the create call will include a kycLink and the bankAccountFormLink for the business or individual to use to provide their supporting documentation and bank account information. Funds cannot be off-ramped until KYB/KYC is passed and a bank account is linked.

You can use the GET payout destination endpoint to query for the kycStatus to check if you've been approved.

Loop will immediately create a walletAddress that is used to collect payment before the funds are off-ramped. This address is returned in the response and can be used for receiving crypto payments even before fiat off-ramp has been approved. Once approved, funds are off-ramp every 24-hours to the appropriate bank account.


Fiat currency supported

CountryCurrencyLocal Payment Rail(s)Settlement Time
USUSDACH, Domestic wire, International wireT+1 / T+2
EurozoneEURSEPAReal-time / T+1
ArgentinaARSTransfers 3.0T+1 / T+2
BangladeshBDTBEFTNT+1
BoliviaBOBRTGST+0 / T+1
BrazilBRLTED, DOC, PixReal-time / T+0
CanadaCADInteracT+1 / T+2
ChileCLPTEFT+0 / T+1
ChinaCNYCNAPST+3
ColombiaCOPACH ColombiaReal-time / T+1
Costa RicaCRCSINPEReal-time
Czech RepublicCZKCERTIST+0 / T+1
DenmarkDKKNemKonto, FIT+0 / T+1
EcuadorUSDLocalNot specified
EgyptEGPRTGS, IPNT+0 / T+1
El SalvadorUSDLocalNot specified
GhanaGHSGhIPSSReal-time
GuatemalaGTQACH GuatemalaT+0 / T+1
Hong KongHKDHKICL (CHATS / ECG)Real-time / T+1
IndiaINRNEFT, RTGS, IMPSReal-time
IndonesiaIDRSKN, RTGSReal-time / T+1
IsraelILSZAHAVT+0 / T+1
JordanJODACHT+1 / T+2
KenyaKESKIBBS, PesaLinkT+3
MalaysiaMYRIBG, RENTASReal-time / T+1
MexicoMXNSPEIReal-time / T+1
NigeriaNGNNIBSS, NEFTReal-time
NorwayNOKNICST+0 / T+1
PakistanPKRRAAST, IBFTReal-time
PeruPENCCET+0 / T+1
PhilippinesPHPInstaPay, PESONetReal-time / T+1
PolandPLNElixir, Blue CashReal-time / T+1
QatarQARQPST+1 / T+2
Saudi ArabiaSARMadaT+0 / T+1
SingaporeSGDFAST, MEPSReal-time
South AfricaZARRTGS, EFTT+1
Sri LankaLKRLocalT+0
SwedenSEKBankgirotT+0 / T+1
ThailandTHBBAHTNET, PromptPayReal-time / T+1
TurkeyTRYFAST, EFTReal-time
UAEAEDUAEFTST+0 / T+1
UKGBPBACS, CHAPS, Faster PaymentsReal-time / T+1
VietnamVNDIBPSReal-time / T+3

Cryptocurrency support

Network NameSupported Cryptocurrencies
Arbitrum OneUSDC, USDT, ETH, ERC-20s
BaseUSDC, USDT, ETH, ERC-20s
Ethereum MainnetUSDC, USDT, ETH, ERC-20s
OP MainnetUSDC, USDT, ETH, ERC-20s
Polygon MainnetUSDC, USDT, ETH, ERC-20s
Solana (coming soon)USDC, USDT, SOL
Tron (coming soon)USDT
Bitcoin (coming soon)BTC