Fiat Deposit Instructions

Transfers create unique deposit instructions for each incoming payment. Similar to Liquidation Addresses for crypto deposits, Bridge also offers permanent payment routes, tying together a fiat deposit to a specific blockchain and address. So, the same deposit instructions can be used multiple times to make deposits that are then sent on chain.

We provide two types of permanent deposit routes:

• Virtual Account Number: Provides a unique routing number and account number that accepts ACH and domestic US wire deposits. Virtual Accounts have separate pricing from other orchestration products. Please reach out in Slack to get access.
• Static Memos: Provides deposit instructions into a shared account with a unique deposit message. These support both ACH and domestic US wire sources, but the wire memo or ACH description must contain the specified message.

Transfers vs Virtual Accounts / Static Memos

Transfers, Virtual Accounts and Static Memos all take in fiat and output crypto. However, there are a few tradeoffs to consider when deciding between the products -

• A transfer requires exact matching on the amount
  • When a deposit is made to kick off a transfer, the amount of that deposit must be known before creating the transfer within Bridge. This amount needs to be exact.
• A transfer will only move funds a single time. If you expect to perform multiple onramps from the same source currency to destination, you should use Static Memos or Virtual Accounts.