On the Striga platform, once an identity has been verified successfully, a default wallet is provisioned for the identity. A wallet is simply a collection of accounts. When setting up your Striga developer account, you are given the option to select the currencies you wish to enable for your users.

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Default Wallets
Please note that by default, a wallet is created for your corporate and for each consumer that successfully passes KYC. You may create additional wallets as required

Therefore, by default, every verified identity is provisioned with an account in each of the currencies you selected. This does not incur any fees as an account is simply a representation of an object that stores value.

In order to obtain deposit credentials for an account (Such as an IBAN or Crypto Deposit Address) please refer to the "Enrichments" section. Enrichments are subject to compliance requirements as money moves in and out of the system in this manner.

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Wallets & Accounts
A wallet on the Striga platform contains accounts. Accounts are the lowest divisible unit of value storage and are each represented in one currency only. When creating a wallet, accounts for each of your configured currencies are created and linked under that wallet.
A card may further be linked to a specific account depending upon your selected application model.

Payment Models

Striga offers two modes to build your application in as indicated on the public pricing page

Crypto Infrastructure as a Service

With this model, you get access to the ability to onboard consumers, create dedicated crypto deposit addresses, manage funds and issue vIBANs to collect fiat deposits from users that can be traded against fiat currencies. As in all models, compliance is handled entirely by Striga and you do not need licenses to build your application.

Banking & Crypto Infrastructure as a Service

The main difference to the above model is the ability to issue branded Visa payment cards that can be linked to any account in any currency belonging to a user. This means that at the time of a card transaction, funds are debited in the root account currency of the linked account. This is useful in the case of building a neo-bank or an off-ramp application where you would like to enable users to spend crypto directly without having to top-up a card.

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Licensing & Fund Movements
Although no licenses are required to build on Striga, the above models were engineered to meet the demands of the most common types of crypto & web3 applications in the market today. We understand that there may be use cases beyond this where you may want to move funds in a non-standard manner. Please contact us on support@striga.com for such use cases.
Namely, moving funds between your corporate wallet & a consumer wallet (via the Interledger Transaction API) is prohibited in either direction, if you are an unlicensed entity as such transactions trigger various payments regulations.