Step-by-Step Guide
Guide
Onboarding with VelaFi
This section walks you through the complete onboarding process with VelaFi, including account registration, API key generation, merchant setup, compliance verification, and payment accout activation.
Creating VelaFi Account Begin by registering an account on the VelaFi platform. Upon successful registration, the system will assign a unique user ID (UID), which will serve as the identifier for managing all your transactions, merchants, and account-level operations.
Create a Merchant & Complete Compliance Verification (KYC/KYB)
To operate under VelaFi’s compliance framework, you must create a legal individual or business entity (Merchant).
Submit detailed merchant information to initiate the KYC/KYB verification process.
Once approved, the platform will assign a unique Merchant ID (MID) to you or your client.
Create API Key Once your account is activated, you can log into the platform dashboard to generate your API Key.This key is required to authenticate your API requests and securely interact with VelaFi’s services.
API Access Contact VelaFi Team for activation.
Active Merchant Account Activate the required fiat payment channels (e.g., ARS, MXN, USD, EUR) for your merchant to enable seamless and efficient fund inflows and outflows.
Each merchant will be assigned a dedicated payment account, such as CVU and CUIT numbers for ARS (Argentina).
Funds can be deposited into the merchant's payment account via bank transfer. VelaFi will automatically reconcile the incoming payments and credit the corresponding balance to the merchant’s account.
Both corporate and individual merchant accounts are supported, allowing flexible fund management across different business scenarios.
Environment Selection Sandbox: Test transactions Production: Real transactions
On-Ramp Workflow (Fiat → Crypto)
Review the following Support articles to see our supported currencies and regions for on-ramp:
View supported cryptocurrencies & fiat currencies
1. Ensure Merchant Fiat Account Activation
Before initiating a transaction, please ensure that the merchant has successfully activated their fiat account. For example, if Merchant Alice wants to perform an ARS → USDT transaction, she must first activate her ARS fiat account.
When an order is created, the system will generate a unique order_id to track the transaction.
To get the details of a specific order, use the order_id to query and retrieve comprehensive order information.
4. Make a Payment
There are two payment methods available:
A. Pending Fund Balance Payment If you select Merchant Account Pending Fund and the account balance is sufficient, the system will automatically process the payment.
B. Real-Time Manual Payment If you opt for real-time payment, you must manually transfer the funds to the fiat account specified in the order details.
5. System Confirms Order Completion
Once the payment is confirmed, your account will instantly receive the corresponding amount of cryptocurrency.
Note: Due to compliance requirements, certain transactions may require you to submit supporting documents after order creation via the Upload Invoice Documents For a Specific Order endpoint.
Off-Ramp Workflow (Crypto → Fiat)
Review the following Support articles to see our supported currencies and regions for off-ramp:
View supported cryptocurrencies & fiat currencies
Before initiating a transaction, please ensure that the merchant has successfully activated their fiat account. For example, if Merchant Alice wants to perform an USDT → ARS transaction, she must first activate her ARS fiat account And added payment methods.
Initiate a transaction by creating a Crypto to Fiat order through the appropriate API endpoint.
2. System Processes the Transaction
Once the order is submitted, the system will handle cryptocurrency validation, conversion, and fiat settlement instructions.
3. Receive Fiat Funds
The fiat currency will be transferred to the beneficiary's account upon successful completion of the transaction.
Global Payment Workflow
Review the following Support articles to see our supported currencies and regions for global payment:
Supported cryptocurrencies & fiat currencies Before initiating a transaction, please ensure that the merchant has successfully activated their fiat accounts. For example, if merchant Alice intends to perform a USD → ARS transaction, she must first activate both her USD and ARS fiat accounts and add the required payment method.
Confirm transfer details:
Sender fiat currency & amount
Recipient fiat currency & amount
Select sender Merchant
Retrieve payment methods
Select recipient Merchant
Configure recipient payment method
Order execution completed
Recipient fiat funds received
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