Open Banking Payout (USDC → EUR)
This section provides a reference for integrating Tylt CrossRamp’s Open Banking off-ramp flow within merchant applications.
Through this integration, merchants can initiate transfers of stablecoins (USDC) to end users, who can subsequently convert the received crypto-assets into fiat via Open Banking rails.
Open loop Open-Banking Payouts are only available for EUR currency. Support for GBP will be available shorlty.
Conversion & Settlement Model
Each transaction is processed using a real-time conversion quote.
At the time of initiation, a USDC → EUR quote is generated. The merchant initiates a transfer of stablecoins to the end user, who reviews and accepts the off-ramp quote and proceeds with the transaction based on the provided details.
The end user then completes the off-ramp flow, following which the corresponding crypto-asset conversion is executed and the resulting fiat amount is made available via SEPA Instant.
All transactions are reconciled through a daily settlement cycle, ensuring that balances are fully reflected no later than 2:30 AM UTC.
Settlement Summary
Quote Model
Real-time quote per transaction
Debit Timing
USDC debited upon initiation of the off-ramp flow
Settlement Finality
Fully reconciled no later than 2:30 AM UTC daily
Settlement Currency
USDC
Source
Merchant Tylt Wallet
What You’ll Find in the API Reference
1. Off-Ramp Flow (USDC → EUR) Guidance for initiating off-ramp flows, including transferring stablecoins to end users and enabling fiat conversion via Open Banking.
2. Endpoint Descriptions Detailed specifications for all API endpoints, including parameters, authentication requirements, and sample requests.
3. Request & Response Formats Structured JSON examples, parameter definitions, and HTTP status codes for accurate implementation.
4. Code Examples Reference implementations in Node.js, Python, and other supported languages.
5. Error Handling Common error scenarios, causes, and recommended handling strategies to ensure reliable integration.
Summary
This API enables merchants to initiate Open Banking-based off-ramp flows, allowing end users to convert stablecoins into fiat via local bank transfers, with all crypto-asset conversion and settlement managed within Tylt’s infrastructure.
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