Introducing the Virtual Account API

We're excited to announce the launch of SpherePay's Virtual Accounts API, a revolutionary solution that eliminates the complexity of fiat-to-cryptocurrency conversions for businesses and developers. This new API-first product transforms how companies integrate crypto payments by providing dedicated virtual bank accounts that automatically convert fiat deposits into stablecoins.

The Problem We're Solving

Traditional crypto onboarding has been a friction-heavy process. Users typically need to:

• Navigate complex exchange interfaces
• Manually initiate conversions
• Wait for multiple confirmation steps
• Deal with varying conversion times and fees

For businesses building crypto-enabled applications, this friction increases churn and reduces user adoption. SpherePay Virtual Accounts changes that equation entirely.

Introducing Automated Fiat-to-Stablecoin Infrastructure

Virtual Accounts provide each of your users with a dedicated virtual bank account that's directly linked to their crypto wallet address. When funds arrive at this virtual account, they're instantly converted to the specified stablecoin and delivered to the linked wallet - no manual intervention required!

Here's how it works:

1. Create a Virtual Account via our API for your end-user
2. Receive unique banking details (account number, routing number, etc.)
3. Users deposit fiat using standard bank transfers
4. Instant conversion happens automatically upon deposit
5. Stablecoins are delivered directly to the specified wallet address

Comprehensive Multi-Chain Support

Supported Fiat Currencies:

• USD
• EUR

Supported Stablecoins & Networks:

• USDC on Arbitrum, Avalanche, Base, Ethereum, Polygon, and Solana
• USDT on Ethereum and Tron

This multi-chain approach ensures you can serve users regardless of their preferred blockchain ecosystem.

Built for Global Scale

Virtual Accounts are available to end-users globally (excluding sanctioned regions), making it easy to serve international customers without complex regional integrations. Whether you're building a DeFi application, NFT marketplace, or stablecoin payment solution, you can now offer seamless fiat onramps worldwide.

Developer-First API Design

The Virtual Accounts API is designed with developers in mind, offering full programmatic control over the entire lifecycle:

‍
// Create a Virtual Account
POST /v2/virtualAccount
{
 "customerId": "customer_1ab2c3d4",
 "sourceCurrency": "USD",
 "destinationCurrency": "USDC",
 "network": "ethereum",
 "walletAddress": "0x1234...abcd"
}
‍

‍The API response includes everything you need to guide users through the deposit process:

{
 "id": "virtualAccount_987xyz654",
 "active": true,
 "fees": {
   "totalBpsRate": "20",
   "integratorFee": {
     "bpsRate": "10"
   },
   "platformFee": {
     "bpsRate": "10"
   }
 },
 "depositInstructions": {
   "currency": "USD",
   "bankName": "Bank of Example",
   "bankAccountNumber": "000123456789",
   "bankRoutingNumber": "1234567890",
   "bankBeneficiaryName": "John Doe",
   "bankBeneficiaryAddress": "123 Main St, Anytown, USA"
 },
 "destination": {
   "currency": "USDC",
   "walletAddress": "0x1234...abcd",
   "network": "ethereum"
 },
 "created": "2025-04-20T21:49:46.697Z",
 "updated": "2025-04-20T21:50:18.854Z"
}

Complete Account Lifecycle Management

Beyond creation, the API provides full lifecycle management:

• Retrieve account details and status
• Update account configurations
• List all accounts for a customer
• Deactivate accounts when needed
• Reactivate accounts seamlessly

Built-in Verification Support

Virtual Accounts support standard financial verification methods like micro-deposits and challenge deposits, making it easy for users to link accounts from fintech apps, payroll providers, and other financial platforms.

Enterprise-Grade Security & Compliance

Security and compliance are built into every aspect of Virtual Accounts:

• Comprehensive KYC/KYB verification
• SOC 2 compliance standards
• Anti-money laundering (AML) monitoring
• Regulatory compliance across supported jurisdictions

Getting Started

Ready to integrate Virtual Accounts? Here's what you need:

1. Active SpherePay merchant account with completed KYC
2. Customer registration via our Customer API
3. API integration using our comprehensive documentation

Virtual Accounts are available now in both production and sandbox environments, with full API documentation and code examples ready to help you get started.

Looking Ahead

This is just the beginning. We're continuously expanding Virtual Accounts with new features, additional currency support, and enhanced developer tools. Our goal is to make stablecoin payments as simple as traditional payments and Virtual Accounts are a major step toward that vision.

Start Building Today

Virtual Accounts represent a fundamental shift in how businesses can integrate cryptocurrency payments. By eliminating the friction of manual conversions and complex user flows, you can now offer your users truly seamless fiat-to-crypto experiences.

Ready to get started? Check out our Virtual Accounts API documentation and contact our sales team to learn more about pricing and implementation support.