Dollars to Digital Dollars: Introducing Deposit
TL;DR - We are excited to introduce our latest feature allowing businesses to seamlessly convert from dollars (USD) to digital dollars (USDC): Deposit. By connecting your bank account via Plaid, you are able to go directly from dollars in your bank account to depositing them as digital dollars on Mural. This immediately unlocks instant global payments for you on a whole new worldwide payment network. We recently announced Withdrawal – this feature now fully completes the end to end flow to move between fiat and stablecoins in a matter of seconds.
Our vision behind Deposit
After hundreds of hours talking with our customers, we realized one of the greatest painpoints to getting started with digital dollar payments was getting digital dollars in the first place. Businesses would often times open up multiple exchange accounts, transfer from their bank, then to their exchange, then to their operational payments account. With so many intermediary steps, this process was extremely cumbersome and highly error prone.
By understanding every fundamental step along the way, we were able to drastically simplify the entire process from a matter of days to get starts to a matter of seconds.
All you need to get started, is a bank account. You can then move money from your bank to your digital account and start paying anyone in the world, instantly, with digital dollars.
What are the benefits?
Airtight Security: Send directly from your bank account to your digital account securely with realtime monitoring and tracking. We track in realtime to ensure you are updated as soon as your funds are available in your digital account.
Streamlined Process: No need to open up an exchange account, jump between multiple platforms, track in separate places. You are now able to deposit and withdraw all in one place.
Efficient Compliance: Our Know Your Business (KYB) flow allows you to securely verify your business identity and owners with peace of mind.
How to Get Started
To take advantage of this new feature, follow these steps:
1. Initiate a Deposit: Go to the Move Money button in the top navigation and select Deposit.
2. Complete Your Deposit Details: Follow the prompts to configure your deposit and send funds via ACH.
3. Confirm the Transfer: After sending the funds from your bank, finalize the process by selecting the I've sent the funds button.
Track Your Deposit
Like any transaction, you can follow your dollar-to-digital dollar conversion in real time. The deposit will appear in the Transactions tab once processed, allowing you to track its status comprehensively.
Conclusion
Our goal is to provide you with the best experience to process global instant payments for your workforce. We believe in integrating natively into your financial systems so you can get started with as little overhead as possible.
Book a demo with us and elevate your financial operations.
