Verified Network
  • What is the Verified Network
  • How to use it
  • Reference
    • Verified SDK
      • Using the SDK
      • Wallet and Contracts
      • Know your Customer
        • Using the KYC plugin
      • Delegated permissions
      • Investment products
        • Product lifecycle
        • Example of a Product
      • Security tokens
        • Issuing functions
      • Liquidity pools
        • Buy and Sell Orders workflow
        • Buy and Sell Order Complete workflow example
      • Secondary issues
      • Primary issues
        • Primary offer function
      • Margin traded issues
        • Offering collateral
      • Adding money to wallet
        • Paying in supported tokens
      • Issuing cash tokens
        • Issuing and Exchange functions
      • Making payments
        • Transferring cash tokens
      • Withdrawals
        • Redeeming cash tokens
      • Custody of Assets
        • Custody functions
      • Staking to invest
        • Liquidity functions
        • Market maker functions
      • Staking to borrow
        • Bond issuing function
      • Lending
        • Bond purchase function
      • Repayments
        • Bond redemption function
      • Claiming collateral
        • Defaults and Unsold bonds
      • Returns on Investment
        • Manager and Platform returns
    • Verified REST API
      • Market data
        • Get all assets
        • Get Tradable Asset Pairs
        • Get Ticker Information
        • Get Orderbook
      • Order data
        • Get Account Balance
        • Get Trade Balance
        • Get Open Orders
        • Get Closed Orders
        • Query Orders Info
        • Query Trades Info
        • Get Trades History
      • Order Management
        • Add Order
        • Edit Order
        • Cancel Order
    • Verified Subgraphs
    • Verified Applications
      • Doing KYC
        • Creating wallet
        • Using the Verified Dapp
        • Doing KYC
      • Primary issues
        • Creating a new issue
        • Subscribing to issue
        • Closing issue
      • Secondary trading
        • Market orders
        • Limit orders
        • Edit, Cancel, Settle orders
      • Margin trading
        • Post Margin collateral
        • Swaps
        • Edit, Cancel, Settle orders
      • Portfolio
        • Account statement
        • Corporate actions
        • Underwriting liquidity
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  • Issuing of Verified cash tokens
  • Conversion of Verified cash tokens
  1. Reference
  2. Verified SDK

Issuing cash tokens

Issuing and Exchange

Issuing of Verified cash tokens

Application users can request for issue of Verified cash tokens in exchange of ether and permitted ERC20 tokens such as USDC that they pay in from their Verified wallet or any other ERC20 compatible Ethereum wallet. Fiat currencies paid into Custodian accounts are retrieved using the payment gateway's functions and for every approved payment, the Custodian's application has to call the pay in function on the Cash contract signed by its Verified wallet key.

Applications can call the notifyCashIssue function in the SDK's cash contract and pass a callback function which is invoked when cash tokens are issued on the Verified Network.

Conversion of Verified cash tokens

Users can also request issue of Verified cash tokens in a currency of choice by paying in another Verified cash token of a different currency. For example, a user can request for issue of Verified USD cash tokens by paying in Verified EUR cash tokens. This is achieved using the transfer function which applications should call by passing the currency and amount to debit, and the currency to issue Verified cash in. Doing this converts the amount in the currency to debit into an equivalent amount in the currency to issue in and then credits that amount into the user's Verified wallet.

Applications can call the notifyCashExchange function in the SDK's cash contract and pass a callback function which is invoked when cash tokens are exchanged on the Verified Network.

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Last updated 1 year ago