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FSCO API Docs

Wire Service

The Wire Service enables seamless transfers between fiat currencies and stablecoins, serving as a bridge between traditional banking and blockchain-based digital assets. It supports on-ramps (fiat to stablecoin), off-ramps (stablecoin to fiat), and direct stablecoin transfers.

Overview

Financial institutions and businesses need reliable ways to move between traditional fiat currencies and digital stablecoins. The FSCO Wire Service provides a comprehensive solution for these transfers, with full tracking, receipt generation, and detailed audit trails.

Key Features

Fiat-to-Stablecoin (On-ramp)

Convert traditional currencies like USD or EUR into stablecoins with bank deposit verification.

Stablecoin-to-Fiat (Off-ramp)

Convert stablecoins back to fiat currencies with bank account transfer capabilities.

Stablecoin-to-Stablecoin

Transfer between different types of stablecoins across wallets and accounts.

Real-time Exchange Rates

Access current exchange rates for all supported currency pairs.

Transaction Tracking

Monitor transfers from initiation to completion with detailed status updates.

Receipt Generation

Generate official receipts for completed wire transfers.

Advantages

  • Banking Integration - Connect traditional banking systems with blockchain technology
  • Compliance Ready - Built-in audit trails and transaction tracking for regulatory requirements
  • Multiple Currency Support - Handle various fiat currencies and stablecoin types
  • Transparent Fees - Clear fee structure for all transfer types
  • Complete History - Detailed transaction history with status changes and event tracking
  • Multi-stage Processing - Handle complex transfers with multiple steps and verification points

Common Use Cases

Digital Banking Services

For Retail & Commercial Banks

Expand your digital banking services to include regulated digital assets, providing customers a seamless bridge between traditional bank accounts and blockchain-based currencies. Maintain full compliance with banking regulations while enabling new digital asset capabilities.

Integration Points

  • GET /wires/deposit-instructions/{currency} - Generate compliant banking instructions for clients
  • POST /wires/deposits/confirm - Validate and process incoming bank transfers
  • GET /wires/{wireId}/receipt - Provide formal documentation for completed transactions

Institutional Settlement Systems

For Payment Networks & Settlement Systems

Implement efficient settlement mechanisms that bridge traditional banking infrastructure and blockchain networks. Reduce settlement times and costs while maintaining regulatory compliance and auditability.

Integration Points

  • POST /wires - Create institutional settlements between banking networks and digital assets
  • GET /wires/{wireId} - Monitor settlement progress with real-time status updates
  • GET /wires/{wireId}/history - Maintain comprehensive audit trails for compliance purposes

Multi-Currency Treasury Management

For Financial Controllers & Treasury Departments

Consolidate treasury operations across traditional and digital asset holdings, with unified reporting, forecasting, and liquidity management. Enable precise control over currency exposure with enterprise-grade security and compliance controls.

Integration Points

  • GET /wires/rates - Access real-time exchange rates for financial reporting
  • POST /wires - Orchestrate treasury transfers with complete audit trails
  • GET /wires - Generate comprehensive treasury reports across all currency types

Getting Started

To start using the Wire Service:

  1. Review the API Reference to understand available endpoints
  2. Follow the Wire Transfers guide
  3. Set up your integration with appropriate authentication
Wire Transfers Guide Learn how to execute and manage wire transfers
Wire API Reference Complete API reference for the Wire Service

API Specifications

For detailed API specifications, see the OpenAPI schema.

Service Architecture

The Wire Service follows a modular architecture with the following components:

  • Exchange Rate Provider - Maintains current exchange rates for currency pairs
  • Deposit Instruction Manager - Generates bank deposit instructions for fiat currencies
  • Transfer Processor - Handles the core wire transfer logic and state transitions
  • Receipt Generator - Creates official receipts for completed transfers
  • History Tracker - Maintains detailed audit trails of all wire operations
  • Notification System - Sends updates about transfer status changes

Supported Asset Types

Fiat Currencies

  • USD (US Dollar)
  • EUR (Euro)
  • GBP (British Pound)
  • SGD (Singapore Dollar)
  • AUD (Australian Dollar)
  • And more…

Stablecoins

  • USDC (USD Coin)
  • USDT (Tether)
  • BUSD (Binance USD)
  • DAI (Multi-Collateral Dai)
  • And more…

Wire Transfer Types

On-ramp (Fiat to Stablecoin)

This flow allows users to:

  1. Get bank deposit instructions for their fiat currency
  2. Make a deposit to the specified bank account
  3. Confirm the deposit with reference details
  4. Receive equivalent stablecoins in their wallet

Off-ramp (Stablecoin to Fiat)

This flow allows users to:

  1. Specify a bank account for receiving fiat
  2. Convert stablecoins to the target fiat currency
  3. Receive the fiat amount in their bank account
  4. Get a receipt for the completed transaction

Transfer (Stablecoin to Stablecoin)

This flow allows users to:

  1. Transfer one type of stablecoin to another
  2. Specify source and destination wallets
  3. Apply current exchange rates automatically
  4. Track the transfer progress

Best Practices

  • Always check current exchange rates before initiating wire transfers
  • Store wire transfer IDs for future reference and tracking
  • Implement proper error handling for failed transfers
  • Include clear reference information for easier reconciliation
  • Monitor wire status changes to provide user feedback
  • Generate and store receipts for completed transfers

Security Considerations

  • All API endpoints require proper authentication
  • Sensitive banking information is encrypted and handled securely
  • Admin operations (like status updates) have restricted access
  • Complete audit trails are maintained for all wire transfers
  • Verification steps are required for high-value transfers
  • Multi-stage processing provides security checks throughout the transfer process