Adding money to wallet

Top up a Verified wallet

A user may add both crypto and fiat currencies to its Verified account. An application may therefore enable a user to transfer ether to its Verified wallet and to pay in supported fiat currencies against which ERC20 compatible Verified cash tokens of equivalent value are issued to the user's wallet. Verified cash tokens are used for payments and settlements on the Verified Network and can also be used outside the Verified Network on the ethereum mainnet and on ethereum compatible blockchains like Polygon.

Transferring ether to the Verified wallet

A user can transfer ether to the Verified wallet from any ERC20 compatible ethereum wallet such as MetaMask, Ledger and Mew. All that is required for a transfer of ether is the address of the user's Verified wallet.

Pay in of ether for issue of cash tokens

Users can send ether from their Verified wallets to the Verified cash contract address for a currency that the user wants cash tokens to be issued in. For example, if a user wants Verified USD cash tokens, it has to send ether to the Verified USD cash contract address. Verified cash tokens are currently issued for the US dollar, British pounds, Euro, Japanese Yen, Mexican Peso, HongKong dollar, Canadian dollar, Singapore dollar, and the Australian dollar.

Verified cash token addresses can be obtained from the Factory contract. An example of how this works is shown here.

Pay in of fiat from bank accounts and cards

Users can pay in a variety of supported currencies from their card and bank accounts into their Verified accounts. Custodians on the Verified Network keep custody of paid in fiat currencies and issue Verified cash tokens to wallets of users that pay in fiat.

Application developers can use any fiat payment gateway supporting a currency of choice for paying in to Custodian accounts.