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This guide shows you how to create a virtual account so your users can send fiat and receive crypto.

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Prerequisites

  • Your user has completed onboarding (Custom KYC flow with endorsement approved)
  • You have their externalUserId
  • Customer’s baseEndorsementStatus is "approved"

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What is Onramp?

Onramp allows your users to:
  1. Send USD via bank transfer to provided bank account details
  2. Automatically receive cryptocurrency at their wallet address
This is useful for users who want to buy crypto using fiat currency.

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Create Virtual Account

Create a virtual account that generates bank deposit instructions: 
POST /v0/virtual-accounts
{
  "externalUserId": "user_123",
  "sourceCurrency": "USD",
  "destinationPaymentRail": "ethereum",
  "destinationCurrency": "usdc",
  "destinationAddress": "0x742d35Cc6634C0532925a3b844Bc9e7595f0bEb"
}

// Response includes bank account details for user to deposit fiat
{
  "data": {
    "id": "va_id",
    "bankName": "Example Bank",
    "bankAccountNumber": "1234567890",
    "bankRoutingNumber": "021000021",
    // ... user deposits to these details, receives crypto automatically
  }
}
Give these bank details to your user. When they send USD to this account, USDC will automatically be sent to their destinationAddress.

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How It Works

  1. Your user initiates a bank transfer to the provided bank account
  2. When the transfer completes, Karma automatically converts USD to USDC
  3. USDC is sent to the user’s specified destinationAddress
  4. You receive webhook events about the transaction status

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Monitoring Transactions

Configure webhooks to receive real-time updates: 
// Example webhook payload
{
  "event_type": "virtual_account.payment.completed",
  "data": {
    "externalUserId": "user_123",
    "amount": "100.00",
    "currency": "USD",
    "destinationAmount": "99.50",
    "destinationCurrency": "USDC",
    "status": "completed"
  }
}

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Next Steps