Accounts
Learn about how accounts work
At the accounts level, we have the following terms to disclose:
- Client: You, our Lumx client, who has agreed to use our APIs.
- Customer: Users of your business.
- Wallet: Embedded wallets for your customers that have the power to send, receive, and hold stablecoins.
Customers
Customers represent users of your business. By creating or updating your customers through our API, you can enable seamless transfers of stablecoins or fiat currencies between your customers’ wallets or bank accounts.
We handle KYC/KYB for your users in compliance with legal requirements when using our on/off ramp processes. You can always refer to our compliance requirements page to understand which data we collect to validate it.
Wallets
We provide an easy and safe way for you or your users to send, receive, and hold stablecoins. No external integrations or blockchain knowledge required.
The key functionality of our wallets includes:
- Automatically creating individual wallets on behalf of your users.
- Creating wallets for your company or treasury.
- Transferring in and out of Lumx wallets.
- Transferring stablecoins between different Lumx wallets.
- Querying the balance for each wallet and across all wallets.
Next, let’s learn more about On/Off Ramp processes.