Glossary

Terms used throughout the Finance API reference and guides. Each definition links to the primary endpoint or guide where the concept is used.

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Identity

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Party

The legal identity behind every account. Two types:

• INDIVIDUAL — a natural person (requires firstName, lastName)
• ORGANISATION — a company or business (requires name, optionally vatNumber)

A party is created independently of accounts; KYC/KYB runs asynchronously after creation. See Create a new party.

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Party Role

The relationship between a party and an account. Currently only one role type exists:

• ACCOUNT_HOLDER — the party owns or co-owns the account

A single account can have multiple party roles, enabling joint accounts. See Add a party to an account.

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KYC / KYB

Know Your Customer (individuals) and Know Your Business (organisations). Identity verification that runs after party creation, tracked on two separate fields:

• kycStatus (individuals & accounts) — VERIFICATION_PENDING → VERIFIED (or REJECTED)
• kybStatus (organisations) — PENDING → VERIFIED (or DENIED)

Outbound money movement is blocked until the account is VERIFIED. See Account verification.

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Account structure

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Account

The container that holds wallets, virtual bank accounts, and transfer history for a party (or set of parties). Pinned to a single blockchain network at creation. Statuses: ACTIVE, SUSPENDED, CLOSED.

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External ID

A merchant-supplied unique identifier for an account or party (externalId field). Use it as a shortcut in transfer requests (receiverExternalId) instead of looking up the Venly UUID.

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Custodial Wallet

A blockchain wallet managed by Venly on behalf of an account. Venly holds the keys; balances move via API calls rather than on-chain signatures. Each wallet is bound to one chain (BASE or AVALANCHE in Release 1).

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Virtual Bank Account (VBA)

A bank account reference (IBAN + BIC for EUR_SEPA) attached to a Venly account. Used to receive fiat funding that’s auto-converted to crypto and credited to the wallet. See Create a virtual bank account.

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IBAN / BIC

International Bank Account Number and Bank Identifier Code — the standard EUR_SEPA addressing format returned on a virtual bank account.

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Reference Code

A unique string returned with each VBA. The end user must include this in their SEPA payment message — it’s how the incoming wire is matched to the right account. Without it, settlement falls back to manual reconciliation.

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Beneficiary Name

The legal name on the bank account record (typically a Venly custody entity). Display this to end users alongside the IBAN when they initiate a wire.

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Money movement

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Transfer

A value movement from one account to another, addressed by receiverAccountId or receiverExternalId. Two flavors, depending on how you denominate the amount:

• Fiat transfer — you send a fiat currency + amount; it’s resolved to the underlying stablecoin and settled on-chain. The response carries a fiatOrigin block (original currency, amount, exchange rate).
• Crypto transfer — you send a crypto asset + chain + amount, moved directly between the accounts on-chain.

See Transfers.

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Transfer Status

Lifecycle states: PENDING → COMPLETED (or FAILED with an errorMessage).

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Payment Session (Fiat-to-Crypto)

A hosted checkout flow that converts a card or bank payment into crypto credited to an account’s wallet. Returns a paymentUrl you redirect the user to. See Create a fiat-to-crypto payment session.

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Payment Request

A pre-authorised request for funds, used in card-provider integrations. Two endpoints exist: /payment-requests (for card providers) and /accounts/{id}/payment-requests (account-scoped).

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On-chain primitives

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Permit (EIP-2612)

A signed message that grants a spender permission to move tokens from a wallet, without an on-chain approval transaction. Used to delegate spending authority cheaply. See Get permit messages.

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Allowance (ERC-20)

The amount of a token that a third party is approved to spend from a wallet. Queried per wallet + token. See Get wallet token allowances.

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Stablecoin

A cryptocurrency pegged to a fiat currency. Supported in Release 1: USDC, EURC, USDT, USDS.

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Blockchain Network

The chain the account’s wallet is provisioned on. Supported in Release 1: BASE, AVALANCHE.

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API mechanics

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Idempotency Key

A UUID supplied in the request body of state-changing endpoints to make retries safe. Same key + same body returns the original response; same key + different body returns 422. See the Idempotency rules.

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Optimistic Locking (version)

On update endpoints, the request body includes a version integer matching the resource’s current version. Concurrent updates with a stale version return 409 Conflict. Refetch, increment, retry.

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Pagination

List endpoints accept page (1-based), size, sortOn, and sortOrder query parameters and return a pagination object in the response. See Pagination conventions.

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Error handling

Every response carries a success flag and, on failure, an errors array of { code, message }. Branch on the stable code. See the Errors & error codes reference.

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Status enums (quick reference)

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See also