Settlement

The section explains how you can deposit funds (top up your account balance) and withdraw funds from your FinchTrade account.

How is a trade settled?

As we operate in the OTC market, we need to settle a net open position (NOP) directly with our trading partners. It might be a blockchain transaction or a bank wire.

Normally, we exchange the standard settlement instructions (SSIs) prior to trading, as adding a new blockchain address usually takes up to 48 hours due to white-listing procedure.

We usually require our trading partners to deliver or pay first. Alternatively, we can DVP settle via one of our custodian partners.

Please ensure that your sending and receiving addresses are the same. This is a mandatory requirement.

What is the net open position?

NOP per asset is calculated as the sum of all purchases and sales of a particular asset (e.g., you have bought 10 BTC/EUR for 10 000 and sold 6 BTC/EUR for 10 000; your NOPs are now +4 BTC and -40 000 EUR).

What are the settlement options?

• Fiat currencies:

  • EUR (SEPA, Instant SEPA)

  • GBP (incl. Fast Payments)

  • USD (FedWire, SWIFT)

• Digital assets:

  • a blockchain transaction

Which banks do you work with?

We have bank accounts with several banks and payment institutions. Settlement within the same banking partner is a great option to improve the delivery process, as it is usually available 24/7, triggers fewer AML compliance questions, and incurs no or minimal fees. Check our website to discover the banks we currently have accounts with.

Which blockchains do you support for stablecoins?

We support different blockchains to send and receive stablecoins such as USDT or USDC, including Ethereum, Tron, Polygon, Solana, etc. Check our website to see the details.

Can you handle Fiat on/off ramps?

Yes, our main focus is EUR liquidity, namely BTC/EUR; however, we support other fiat currencies like USD or GBP, too. Contact us to figure out if we can help you with your specific request.

Do you support payments to third parties?

We only send a fiat currency to the bank account in your name and a digital asset to your wallet.

However, we are ready to discuss your particular case and find a suitable solution.

Do you use cold wallets? Are there security certificates?

FinchTrade uses Fireblocks and Inabit as custodians, which use MPC technology and provide a powerful tool to manage blockchain wallets and transactions. All addresses are white-listed.