New Feature for Businesses: Fiat in Mass Payments

XBO.com is introducing a new Mass Payments capability that makes working with fiat simpler. This update is built for businesses using XBO.com to process crypto payouts at scale, so if you handle bulk payouts through the platform, it can change how you manage them.

The short demo below shows how this new capability works:

What has changed

Mass Payments batches submitted through the Client API can now be denominated in fiat instead of crypto. This lets you define the exact fiat amount owed to each recipient, with no need to convert every obligation to crypto beforehand.

This update removes a time-consuming manual step, reduces conversion errors, and simplifies automated payout processing, while preserving the exact fiat amounts owed to recipients.

Closer look

Here is the full process for a fiat-denominated batch:

1. You submit a Mass Payments batch with row amounts in a single fiat currency instead of crypto.
2. The platform validates the batch and calculates each row's crypto equivalent using an indicative rate, so you can review the batch before confirming it. The fiat currency serves as both the unit of measure and the funding currency.
3. Once you confirm the batch, the platform recalculates each row's crypto equivalent using the binding rate and processes the payouts. Payouts are always made in crypto.

Please note: The conversion to the payout crypto remains unaffected, and existing crypto-mode batches continue to work without any changes.

Fiat-denominated batches are available now through the Client API for businesses processing crypto payouts on XBO.com.