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Privy expands wallet APIs with fiat deposits stablecoin conversion and payouts
The new functionality lets apps verify users and businesses, provision virtual bank accounts, convert incoming fiat into stablecoins and pay funds out from wallets to bank accounts.
Privy is expanding its wallet APIs to handle more of the fiat-to-stablecoin money flow, enabling developers to create fiat deposit accounts for wallets, automatically convert incoming funds into stablecoins and send wallet funds to bank accounts.
The system uses Bridge for regulated conversion and settlement while Privy provides the unified developer interface. Users and businesses must complete KYC or KYB before fiat flows are enabled, with verification attached to their Privy entity rather than each individual wallet.
At launch, deposits and payouts support US ACH and wire, UK Faster Payments, SEPA in Europe and Brazil PIX. Privy said the integration can support use cases including stablecoin funding, global contractor and seller payouts, remittances and treasury management.