Payment Rails
The following table outlines our supported payment methods.
| Payment Method | Description | Availability |
|---|
| SEPA (Instant) | Instant EEA transactions sub €100k | ✅ |
| SEPA (Credit) | Usually 24 hours for transactions greater than €100k | ✅ |
| ACH | Common for domestic transfers within the US | ✅ |
| Wire | Common for domestic transfers within the US | ✅ |
| Chaps | Common for domestic transfers within the UK | ✅ |
| FPS | Common for domestic transfers within the UK | ✅ |
| SWIFT Inbound | SWIFT Network payment into the Virtual Account from Iron | Coming Soon |
| SWIFT Outbound | SWIFT Network payment outwards to an external fiat bank account | Coming Soon |
Named Virtual Accounts
A virtual account is a FBO account at our banking partner/s in the name of the customer.
| Tool | Description | Availability |
|---|
| VIBAN | EU IBAN enabling localized payments as if using a traditional bank account. | ✅ |
| AN | US account and routing number for receiving domestic USD payments. | ✅ |
Virtual Accounts serve as payment target addresses and are not intended for holding funds permanently. These accounts work for first-party payment and third-party payment.
SWIFT Capabilities
SWIFT Inbound
Iron converts USD sent inbound via SWIFT into a stablecoin (e.g. USDC) which is then delivered to a crypto wallet. This is a seamless bridge from fiat to digital assets to deliver an on-ramp.
SWIFT Outbound
Iron converts USDC received via a blockchain network (e.g. Solana) to USD which is delivered to a fiat bank account via SWIFT. This is a frictionless off-ramp from digital assets to fiat.
