Not at all. Many of our clients prefer to use CFX only for instant credit, debit, apple/google pay, and bank transfer deposits of fiat currencies. If you prefer to allow your clients to buy both fiat and cryptocurrencies through CFX for deposit on your platform, this setup is also possible. However you choose to use CFX, you can still choose to receive settlements from us in whichever currencies you would like, fiat or crypto.

A stable coin is a digital version of a fiat currency like the Euro or the U.S. Dollar. Stablecoins are digital currencies which are “tied” to the value of their fiat counterpart because the company issuing the stable coin can prove that it has actual Euros or Dollars for every digital Euro or Dollar that it issues. Stablecoins have enormous utility in international finance because they can be sent and settled instantly anywhere on the globe. In other words, stable coins increase the velocity of money which means you and your clients can make moves faster.

The transactions are coded as 6051 which is quasi-cash and includes purchases like money orders.

The identity verification serves to prevent fraudulent transactions from occurring, which are often one of the main cause of chargeback issues and disputed transactions. By conducting this identity verification, we can virtually eliminate disputed transactions.