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Transaction Types

HIFI supports five types of transactions. Each type moves value in a different way:
TypeDirectionWhat it does
TransfersWallet → WalletSend stablecoins between HIFI users or to external wallet addresses on the same chain
OnrampsFiat → StablecoinsConvert fiat (e.g. USD) into stablecoins and credit a user’s wallet
OfframpsStablecoins → FiatConvert stablecoins to fiat and send to a registered bank account
BridgingChain A → Chain BMove stablecoins from one blockchain to another (e.g. Polygon → Ethereum)
SwapsStablecoin A → Stablecoin BExchange one stablecoin for another within HIFI wallets (e.g. USDC → USDT)

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When to Use Each Type

Use transfers when you need to send stablecoins from one wallet to another. Supports single payments or batch transfers (up to 50 recipients). Destinations can be another HIFI user or an external wallet address. All movement stays on the same blockchain.
Use onramps when a user wants to deposit fiat and receive stablecoins. The user sends fiat (e.g. via ACH or bank transfer) to a virtual account or one-time account; once received, HIFI credits their wallet with the equivalent stablecoins. Requires KYC for the relevant rail.
Use offramps when a user wants to withdraw stablecoins as fiat. The user’s stablecoin balance is converted to fiat and sent to a registered offramp (bank) account. Requires a linked offramp account.
Use bridging when stablecoins need to move from one chain to another (e.g. Polygon USDC → Ethereum USDC). The same stablecoin is moved across networks; no currency conversion. Useful when the destination wallet or product is on a different chain.
Use swaps when a user needs to exchange one stablecoin for another (e.g. USDC for USDT, or USDC on Polygon for USDT on Ethereum). Supports same-chain and cross-chain pairs. Requires a two-step flow: create swap request, then accept the quote to execute.

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Fiat vs. On-Chain

CategoryTransaction typesKYC / accounts
On-chainTransfers, Bridging, SwapsNo fiat rails; wallet-only flows
Fiat inOnrampsKYC + virtual or one-time account
Fiat outOfframpsKYC + registered offramp account
On-chain transactions (transfers, bridging, swaps) move value between wallets and chains without touching traditional bank accounts. Onramps and offramps connect fiat banking to stablecoins and require user verification and linked accounts.

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Transaction Approvals

Transfers, bridging, and offramps can use an optional approval workflow. When enabled, a transaction is created in a pending state and must be approved by an admin before it is executed. This supports compliance and multi-party authorization. See Transaction Approvals for details.
  • Transfers - Send stablecoins between wallets
  • Onramps - Deposit fiat, receive stablecoins
  • Offramps - Withdraw stablecoins to fiat
  • Bridging - Move stablecoins across chains
  • Swaps - Exchange one stablecoin for another