Issuance allows a developer to create their own fiat-backed stablecoin. All Bridge-issued stablecoins are wholly backed by US Dollars with reserves held in cash and treasuries. Developers can choose the name and blockchain for their stablecoin. You can also add customized smart contract logic.

There are two main benefits to issuing your own stablecoin:

Revenue. Bridge passes the overwhelming majority of the interest earned on the treasury back to developers.
Counter-party risk. Your funds are segregated and held in accounts you can monitor. Reserves are also managed according to your specific needs.

Issuing your own stablecoin is as simple as changing an API parameter in our orchestration APIs.

Below are some examples of how you might create a custom stablecoin using our /transfers APIs.

Minting xUSD

To mint new stablecoin, you can issue an API call that looks like this:

curl --location --request POST 'https://api.bridge.xyz/v0/transfers' \
--header 'Api-Key: <API Key>' \
--header 'Idempotency-Key: <Unique Idempotency Key>' \
--data-raw '{
  "amount": "10.0",
  "on_behalf_of": "cust_alice",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ach",
    "currency": "usd",
    "external_account_id": "840ac7f3-555d-49ff-8128-28709afff2a6"
  },
  "destination": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "to_address": "0xtodeadbeef",
  },
}'

Response

{
  "id": "transfer_123",
  "state": "awaiting_funds",
  "on_behalf_of": "cust_alice",
  "amount": "10.0",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ach",
    "currency": "usd",
    "external_account_id": "840ac7f3-555d-49ff-8128-28709afff2a6"
  },
  "destination": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "to_address": "0xtodeadbeef"
  },
  "receipt": {
    "initial_amount": "10.0",
    "developer_fee": "0.5",
    "exchange_fee": "0.0",
    "gas_fee": "0.0",
    "subtotal_amount": "9.5",
    "final_amount": "9.5",
  },
  "created_at": "2023-05-05T19:39:14.316Z",
  "updated_at": "2023-05-05T19:39:15.231Z"
}

Offramping to fiat

Let's say you want to withdraw funds and receive fiat. To burn your stablecoin (e.g.xUSD) and receive fiat, you can issue an API call that looks like this:

curl --location --request POST 'https://api.bridge.xyz/v0/transfers' \
--header 'Api-Key: <API Key>' \
--header 'Idempotency-Key: <Unique Idempotency Key>' \
--data-raw '{
  "amount": "10.0",
  "on_behalf_of": "cust_alice",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef"
  },
  "destination": {
    "payment_rail": "ach",
    "currency": "usd",
    "external_account_id": "840ac7f3-555d-49ff-8128-28709afff2a6",
  },
}'

Response

{
  "id": "transfer_123",
  "state": "awaiting_funds",
  "on_behalf_of": "cust_alice",
  "amount": "10.0",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef"
  },
  "destination": {
    "payment_rail": "ach",
    "currency": "usd",
    "to_address": "840ac7f3-555d-49ff-8128-28709afff2a6"
  },
  "source_deposit_instructions": {
    "payment_rail": "ethereum",
    "amount": "10.0",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef",
    "to_address": "0xtodeadbeef"
  },
  "receipt": {
    "initial_amount": "10.0",
    "developer_fee": "0.5",
    "exchange_fee": "0.0",
    "gas_fee": "0.0",
    "subtotal_amount": "9.5",
    "final_amount": "9.5",
  },
  "created_at": "2023-05-05T19:39:14.316Z",
  "updated_at": "2023-05-05T19:39:15.231Z"
}

Converting into other stablecoins

Let's say you want to withdraw funds using USDC. To burn your stablecoin (e.g.xUSD) and receive USDC, you would make the below API call -

curl --location --request POST 'https://api.bridge.xyz/v0/transfers' \
--header 'Api-Key: <API Key>' \
--header 'Idempotency-Key: <Unique Idempotency Key>' \
--data-raw '{
  "amount": "10.0",
  "on_behalf_of": "cust_alice",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef"
  },
  "destination": {
    "payment_rail": "ethereum",
    "currency": "usdc",
    "to_address": "0xtodeadbeef",
  },
}'

Response

{
  "id": "transfer_123",
  "state": "awaiting_funds",
  "on_behalf_of": "cust_alice",
  "amount": "10.0",
  "developer_fee": "0.5",
  "source": {
    "payment_rail": "ethereum",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef"
  },
  "destination": {
    "payment_rail": "ethereum",
    "currency": "usdc",
    "to_address": "0xtodeadbeef"
  },
  "source_deposit_instructions": {
    "payment_rail": "ethereum",
    "amount": "10.0",
    "currency": "xusd",
    "from_address": "0xfromdeadbeef",
    "to_address": "0xtodeadbeef"
  },
  "receipt": {
    "initial_amount": "10.0",
    "developer_fee": "0.5",
    "exchange_fee": "0.0",
    "gas_fee": "0.0",
    "subtotal_amount": "9.5",
    "final_amount": "9.5",
  },
  "created_at": "2023-05-05T19:39:14.316Z",
  "updated_at": "2023-05-05T19:39:15.231Z"
}

If you would like to issue your own stablecoin, please reach out to [email protected].