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:
- Configure a
payoutDestination
asfiat
- Complete KYB or KYC
- 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
Country | Currency | Local Payment Rail(s) | Settlement Time |
---|---|---|---|
US | USD | ACH, Domestic wire, International wire | T+1 / T+2 |
Eurozone | EUR | SEPA | Real-time / T+1 |
Argentina | ARS | Transfers 3.0 | T+1 / T+2 |
Bangladesh | BDT | BEFTN | T+1 |
Bolivia | BOB | RTGS | T+0 / T+1 |
Brazil | BRL | TED, DOC, Pix | Real-time / T+0 |
Canada | CAD | Interac | T+1 / T+2 |
Chile | CLP | TEF | T+0 / T+1 |
China | CNY | CNAPS | T+3 |
Colombia | COP | ACH Colombia | Real-time / T+1 |
Costa Rica | CRC | SINPE | Real-time |
Czech Republic | CZK | CERTIS | T+0 / T+1 |
Denmark | DKK | NemKonto, FI | T+0 / T+1 |
Ecuador | USD | Local | Not specified |
Egypt | EGP | RTGS, IPN | T+0 / T+1 |
El Salvador | USD | Local | Not specified |
Ghana | GHS | GhIPSS | Real-time |
Guatemala | GTQ | ACH Guatemala | T+0 / T+1 |
Hong Kong | HKD | HKICL (CHATS / ECG) | Real-time / T+1 |
India | INR | NEFT, RTGS, IMPS | Real-time |
Indonesia | IDR | SKN, RTGS | Real-time / T+1 |
Israel | ILS | ZAHAV | T+0 / T+1 |
Jordan | JOD | ACH | T+1 / T+2 |
Kenya | KES | KIBBS, PesaLink | T+3 |
Malaysia | MYR | IBG, RENTAS | Real-time / T+1 |
Mexico | MXN | SPEI | Real-time / T+1 |
Nigeria | NGN | NIBSS, NEFT | Real-time |
Norway | NOK | NICS | T+0 / T+1 |
Pakistan | PKR | RAAST, IBFT | Real-time |
Peru | PEN | CCE | T+0 / T+1 |
Philippines | PHP | InstaPay, PESONet | Real-time / T+1 |
Poland | PLN | Elixir, Blue Cash | Real-time / T+1 |
Qatar | QAR | QPS | T+1 / T+2 |
Saudi Arabia | SAR | Mada | T+0 / T+1 |
Singapore | SGD | FAST, MEPS | Real-time |
South Africa | ZAR | RTGS, EFT | T+1 |
Sri Lanka | LKR | Local | T+0 |
Sweden | SEK | Bankgirot | T+0 / T+1 |
Thailand | THB | BAHTNET, PromptPay | Real-time / T+1 |
Turkey | TRY | FAST, EFT | Real-time |
UAE | AED | UAEFTS | T+0 / T+1 |
UK | GBP | BACS, CHAPS, Faster Payments | Real-time / T+1 |
Vietnam | VND | IBPS | Real-time / T+3 |
Cryptocurrency support
Network Name | Supported Cryptocurrencies |
---|---|
Arbitrum One | USDC, USDT, ETH, ERC-20s |
Base | USDC, USDT, ETH, ERC-20s |
Ethereum Mainnet | USDC, USDT, ETH, ERC-20s |
OP Mainnet | USDC, USDT, ETH, ERC-20s |
Polygon Mainnet | USDC, USDT, ETH, ERC-20s |
Solana (coming soon) | USDC, USDT, SOL |
Tron (coming soon) | USDT |
Bitcoin (coming soon) | BTC |
Updated 6 days ago