Exchange reserve Wallet (top-up/withdraw)

To perform currency exchange transactions there should be sufficient funds on the exchange_reserve account. In real life it means that the company operating with the system should have the balance on its account in relevant currency to guarantee the obligation to the user. The exchange_reserve account can be topped-up manually using the instructions below.

Exchange Reserve account – it is the currency exchange reserve account (type=exchange_reserve), used only for Currency Exchange operations. This account is created automatically in the system after creation of the commission profile for currency exchange operation in a specific currency. Check more information on Account types.

For the Business user to be able to perform currency exchange operations, the Service user (Admin or any service user with permission) must first top up the balances of exchange_reserve wallets for the required currencies.

The Service user can create a request to Top up/Withdraw the Exchange Reserve account via bank transfer. After the request is created the Service user with appropriate permission must accept or decline a request to process such operation further. To accept or decline a request user must specify the identifier of the request. The Status of the Top up/Withdraw Exchange Reserve operation returns in the response (with other operation details).

To create Top up/Withdrawal Exchange Reserve Request user must specify:

• coin serial (required) – serial number of the exchange reserve account to top up OR withdraw
• amount (required) – amount to top up OR withdraw
• bank account number (conditional) – IBAN OR bank account number, required if bank account ID is not provided
• bank account ID (conditional) – bank account internal identifier, required if bank account number is not provided
• custom information (optional) – additional information
• description (optional) – description for top up request

Top-up/Withdraw Exchange reserve wallet can be performed with the provided bank account ID – it means, that there is a bank account registered in the system and linked with the wallet. If bank account number OR IBAN was provided – it means, that there is no linked bank account for the current wallet in the system.

To Approve and Decline APIs requires two types of permissions:

• access permission to call the APIs: BUSINESS_REQUEST_MANAGER
• permission to process requests (set of permissions related to the different types of business requests), such as:
• BUSINESS_REQUEST_EXCHANGE_RESERVE_TOP_UP
• BUSINESS_REQUEST_EXCHANGE_RESERVE_WITHDRAWAL

To find the exchange_reserve account use this API.

You will get the list of all accounts in the system and after that use search to find exchange_reserve type of account for each currency. If you don’t see the exchange_reserve type accounts in the list, please check if the commission profile was added and activated for the currency exchange operation. 

Use API:

To create Top up Exchange Reserve request

To create Withdraw Exchange Reserve request

To Approve request

To Decline request