Initial Setup
This page will describe how to add the fiat currency and the required payment accounts to enable the Fiat Controls for your exchange
Last updated
This page will describe how to add the fiat currency and the required payment accounts to enable the Fiat Controls for your exchange
Last updated
Exchange Bank account (to receive user deposits)
Liquidity of fiat and crypto of selected market
Before any other process, ensure that the Fiat Controls are enabled on the exchange.
This is done by navigating to the Operator Controls, navigating to the General page, and then finally the Features tab. Look at the list and ensure that Fiat Controls is checked as in the image below.
Fiat Controls are only available on On-Premise Boost, and Cloud Enterprise plans. If you are interested in upgrading your plan, please get in touch with sales@hollaex.com
First, the desired fiat currencies should be added to the exchange. This can be done just as with any other asset. For this example, I will be adding the British Pound (GBP), but the current list of fiat currencies is extensive, and the system is flexible enough to support almost any world fiat currency.
If the fiat currency you require is not on the currently supported fiat assets list, please message support@hollaex.com to arrange its addition
Click next, to see some initial information about the fiat asset, and click confirm to have it added to your exchange.
With this done the fiat currency can be seen as an option on the user wallet screen.
Note that although the fiat asset has been added, and will be visible in users' wallets, currently, there will be no way for it to be traded on the exchange. First, a market must be added and set up for the relevant pairing, this is detailed on the following page.
A payment account is the type of account that users will fill out on your exchange such that it is possible to allow them to withdraw any fiat credits they have.
This payment account can also be used for on-ramping, discussed in the next section.
To add your payment account, this is done by accessing the Operator Controls, then Fiat Controls in the sidebar, and finally the Payments Accounts tab at the top of the page.
To get started click either green button labeled Add payment account.
Choose the method of payment account:
Bank: This will provide a default set of fields to fill in, such as bank name, IBAN, etc. These fields can be fully edited, or removed, as well as new fields added
PayPal: Simple email
Custom: This functions very similarly to the Bank setting above, but suggests no default fields
When adding multiple Payment accounts for different currencies, ensure to use Custom for any currencies after the first, even if you are creating an account for a bank
Selecting this we will see the following default options:
Here we have the option of setting exactly what details we want from users. Continuing with the UK example above, in addition to the account number (which we already have), would also need users to provide their sort code.
To do this, select Add more payment details at the bottom left of the options. This will open the menu that can be seen in the following image. Enter the fields name, and whether or not it is required.
With this added, we can save the Payment account.
With the fiat asset now active on the exchange, we have to enable a method for users to deposit the fiat to the exchange, and thus be minted credits they can use to trade.
To do this, the details of the location we want users to send fiat to will be displayed to users.
This is done by accessing the Operator Controls, then Fiat Controls in the sidebar, and finally the On-Ramp tab at the top of the page.
On this page, we will see a list of all the on-ramps we have created, for all the fiat assets the exchange has listed.
At the moment, my page is empty, so let's add an on-ramp for GBP (British Pound). This can be done in two ways, either by clicking Add on-ramp in the top right and selecting from the dropdown which asset to add the on-ramp, or directly selecting the Add on-ramp button beside the relevant asset.
The first menu is the selection of what type of On-Ramp to provide:
We are given the option to select from the premade payment account that we created in the previous section, and will then be given those fields we set up. This will likely be the option most operators use.
Alternatively, we can select Paypal, or select Custom and create a new method as shown below:
With the name chosen and NEXT clicked, we will see the following back on the On-Ramp page:
Now we have to add the relevant details for the currency we have chosen.
In this case for GBP, in the UK to transfer between accounts we require:
Name
Account Number
Sort Code
Sort code is a UK-specific requirement for domestic transfers.
This illustrates how the HollaEx system gives the flexibility to ensure that whatever national method is used, the users will be provided with the relevant information they need.
The exact fields you add will vary depending on the fiat in question
Adding these 3 fields, we can set them as Required. This means that the On-Ramp cannot be created without them. Alongside these required fields we can add optional fields as required. These are simply those fields that are not strictly required to instantiate the On-Ramp.
Below we can see my on-ramp for a British bank, with some credentials added.
And in the following image, how these details are displayed to users on the Deposit screen for GBP. This is covered in the Users Making Fiat Deposit page.
