Offloader Wallets

Overview

SpherePay's Offloader Wallet provides a streamlined, automatic solution to convert stablecoins into fiat currency directly. Designed specifically for developers and businesses integrating with SpherePay, Offloader Wallets leverage dedicated on-chain wallet addresses, ensuring a seamless stablecoin-to-fiat conversion experience.

High-level workflow

When you set up an offloader wallet via API, SpherePay creates a unique on-chain wallet address associated directly with a specific bank account. Each incoming transfer to this wallet address automatically triggers an instant conversion from a supported stablecoin (USDC, EURC or USDT) into fiat (USD), which is then immediately delivered to the linked bank account.

Supported Rails & Currencies

Currently, Offloader Wallets supports:

• Fiat Currency: USD on ACH, Wire, EUR on SEPA
• Stablecoins:
  • USDC on Arbitrum, Avalanche, Base, Ethereum, Polygon, Solana
  • USDT on Ethereum, Tron
  • EURC on Base, Ethereum, Solana

For a detailed breakdown of supported rails and currencies, see Supported Rails & Currencies.

Supported Regions

SpherePay Offloader Wallets are available to end-users globally, except in regions sanctioned or otherwise prohibited by law.

Requirements before creating an Offloader Wallet

To successfully set up and utilize an Offloader Wallet, ensure each customer:

• Is registered via the Create Customer API.
• Has accepted the Terms of Service (TOS).
• Has signed the Customer's Agreement (for business customers only).
• Has completed Know Your Customer (KYC) verification.
• Has an active Customer Status of approved.

Offloader Wallet APIs

Create Offloader Wallet

For full request/response details, see the Create Offloader Wallet API Reference.

Request Example

  {
    "customerId": "customer_a1b2c3d4e5f6a7b8c9d0e1f2a3b4c5d6",
    "currency": "usdc",
    "network": "ethereum",
    "destination": {
      "bankAccountId": "bankAccount_6221e8d4299f4a889bd882255e92f581",
      "currency": "usd",
      "network": "ach",
      "achReference": "REF123"
    }
  }

Response Example

{
  "id": "wallet_a1b2c3d4e5f6a7b8c9d0e1f2a3b4c5d6",
  "customerId": "customer_a1b2c3d4e5f6a7b8c9d0e1f2a3b4c5d6",
  "address": "0x4838B106FCe9647Bdf1E7877BF73cE8B0BAD5f97",
  "currency": "usdc",
  "network": "ethereum",
  "destination": {
    "bankAccountId": "bankAccount_6221e8d4299f4a889bd882255e92f581",
    "currency": "usd",
    "network": "ach",
    "achReference": "REF123"
  },
  "fees": {
    "integratorFee": {
      "bpsRate": "100",
      "currency": "usdc"
    },
    "platformFee": {
      "bpsRate": "30",
      "currency": "usdc"
    }
  },
  "returnAddress": "0x4838B106FCe9647Bdf1E7877BF73cE8B0BAD5f97",
  "created": "2024-06-15T10:30:00.000Z",
  "updated": "2024-06-15T12:00:00.000Z"
}

Offloader Wallet Retrieval (API)

For full request/response details, see the Get an Offloader Wallet API Reference.

Offloader Wallet Update (API)

For full request/response details, see the Update Offloader Wallet API Reference.

List Offloader Wallets

For full request/response details, see the List Offloader Wallets API Reference.

Additional Notes

• Currently, SpherePay Offloader Wallets do not support webhook notifications.
• To maintain operational simplicity and reliability, event ordering or additional sandbox testing environments for Offloader Wallets are not supported or required.
• Listing transactions history specifically for an Offloader wallet is currently not supported. This is now covered by the Transfers API (Get) and Transfers API (List). See the Track Transfers API (List + Retrieve) guide for more details.