The diagram above outlines the key concepts and their relationships, providing a clear view of how our financial infrastructure operates.

When a User registers, they must specify their Country of residence and accept the applicable Terms of Service, which establish the legal framework for using the platform. To ensure compliance, every User must complete Know Your Customer (KYC) processes, a set of verification steps required before accessing financial services. Our platform supports three types of KYC processes: basic, form-based, and file-based. For the file-based verification steps, the User must upload the required Files (e.g. government ID, Proof of Address) to provide the necessary documentation for verification.

A User’s KYC status and the Terms of Service they accept directly influence their Capabilities on the platform. Capabilities define what important actions a User is allowed to perform. Depending on the Capabilities granted, the User may be restricted from performing certain operations, such as transacting or linking an External Account, e.g. a credit card or alternative payment method (APM).

Each User owns one or more Accounts, each storing balance of Asset. Users interact with their accounts primarily through Transactions, which modify Account balances by trading, depositing, or withdrawing assets. Deposits and withdrawals are powered by Rails, which determine how assets are transferred within a Network.

Users can also create External Accounts, which enable them to link bank accounts, credit/debit cards, or alternative payment methods (APMs). Unlike push deposits, External Accounts allow our platform to pull funds to an Account, with the User’s authorization. External Accounts can also be used as a withdrawal destination, enabling two-way transactions.