Redemption of Via
Redemption in fiat and crypto

Redeeming Via in crypto currencies

A user can redeem Via cash tokens in its Verified account and get back what was paid in to issue those Via cash tokens. For example, if any ether was paid in for issue of Via cash tokens, the user will get back ether equivalent to amount of Via cash that is in balance on the user's Verified account. If Via cash token of another currency was paid in for issue of a Via cash token, redemption returns an amount of Via cash tokens paid in that is left in balance on the Verified account. The user facing application should call the requestRedemption function for redemption of Via cash tokens.

Redeeming Via in fiat currencies

In case fiat currency is paid in to issue Via cash tokens, their redemption will automatically call the fiat pay out functions that will debit the payment accepting partner's bank account and credit the user's saved card or bank account. There is no separate function to call for redemption in fiat currencies and the same requestRedemption function needs to be called in this case as well.
Last modified 9mo ago