Convert funds (on-ramp)
An on-ramp is the process of automatically converting value from fiat currency into crypto, offering customers greater financial flexibility by providing them direct access to crypto from fiat payments without multiple manual steps.
Within BVNK, this is enabled through the payment rules endpoint, which lets you define rules for a fiat virtual account. These rules automatically convert fiat funds deposited into the virtual account into crypto, then transfer them to a designated blockchain address.
This solution is similar to the stablecoin payout flow. However, with an on-ramp, a one-time rule is set up and triggered automatically when fiat funds are deposited into your virtual account, rather than requiring separate conversion and payout steps.
Who is this for?
This feature is intended for companies that primarily operate in fiat and wish to convert funds to crypto and transfer them to a blockchain address in a single step, reducing integration effort and complexity.
The product is best suited for:
- Payment Service Providers (PSPs)
- Employer of Record services
- Marketplaces
- Neobanks
Standard use case
Imagine the following scenario:
You represent an Employer of Record service (Deal, Inc) and want to offer employees the option to receive 50% of their salary in a stablecoin of their choice, sent directly to their MetaMask wallet. Each pay cycle, 50% of the salary is converted and transferred to a blockchain address.
To accomplish this in a single step, create an on-ramp rule for the customer's wallet. When funds are transferred into the wallet, the rule triggers automatic conversion to a stablecoin and sends the funds to the specified external blockchain address.
How on-ramp works
Conversion engine
On-ramp uses the same conversion engine as all BVNK currency exchanges. Understanding settlement and rate determination helps you anticipate when converted funds will arrive and at what rate.
BVNK supports OTC (over-the-counter) conversions between digital and fiat currencies. You can request a quote (RFQ) and convert funds 24/7 through the Portal or via the API.
For larger conversions, the OTC Desk operates Monday to Friday, 06:00–15:00 UTC, with a minimum transaction size of $100,000. Portal and API conversions have no minimum or maximum limits. Contact the Trading Desk at trading@bvnk.com or through your dedicated Slack or MS Teams channel.
Settlement
BVNK settles conversions twice daily at 09:00 and 15:00 UTC on business days. The cut-off times for each settlement window are 08:30 and 14:30 UTC, respectively. Allow 1–3 business days for settlement to complete.
Security reviews may delay payments by one cycle. Larger settlements may take longer, particularly around weekends and holidays.
How rates are determined
BVNK integrates with multiple exchanges, market makers, OTC desks, and stablecoin issuers. The platform combines liquidity from these sources to create a stable BVNK Rate, factoring in market volatility, liquidity, transaction size, and settlement date. A commercial margin is added to determine the Customer Rate, which is the rate used for your conversion.
Indicative exchange rate
If you send funds without requesting a prior quote, the All In Exchange Rate is set when BVNK receives and processes the funds. The final rate may differ from the rate displayed at submission.
The Indicative Exchange Rate shows what you would receive if your deposit were processed at that moment. It is for reference only and is not guaranteed.
The All In Exchange Rate includes the commercial fee charged by BVNK and/or its partners.
Ready to get started? The following sections will guide you through: