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To deposit fiat funds into a wallet, Privy creates a dedicated bank account that can be funded with simple bank transfers. Incoming fiat is converted to stablecoins and delivered on-chain automatically. The account is persistent, so it is safe and reusable: it requires no memo or reference code, and the same details work for every future deposit. Privy uses Bridge for fiat orchestration, and fiat deposits are backed by Bridge virtual accounts.

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How a fiat deposit works

  1. For a given source fiat currency and destination cryptocurrency, a wallet is given a deposit account, which returns bank details.
  2. Send a bank transfer to the generated bank account.
  3. The provider converts the fiat to the configured asset and delivers it to the wallet on-chain.
  4. Privy emits webhooks as the deposit progresses, so your app can reflect status without polling.
Fiat deposits are also supported through the onramp modal, which offers a prebuilt flow for funding a wallet with fiat or crypto, with no deposit account plumbing in your app.

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Getting started

Setup

Verify the wallet’s entity and configure the provider

Create a deposit account

Provision bank details for a wallet

Deposit lifecycle

Follow a deposit from bank transfer to on-chain settlement