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.