Platform Terms
2FA (Two-Factor Authentication)
Security feature requiring password plus time-based code from authenticator app.Account Verification
Process of confirming ownership of bank accounts or wallets.Business Approval
KYB verification confirming business legitimacy before full platform access.Dashboard
Main overview page showing metrics, account status, and quick actions.Transaction Terms
On-Ramp
Converting fiat currency into cryptocurrency.Off-Ramp
Converting cryptocurrency into fiat currency.Reference Code
Unique identifier for on-ramp transactions that must be included in bank transfers.Transaction ID
Unique identifier for any transaction in the platform.Transaction Status
Current state of a transaction (Created, Waiting, Processing, Completed, Failed).Banking Terms
IBAN
International Bank Account Number - standardized bank account identifier.Bank Transfer
Moving money from one bank account to another.Beneficiary
The person or business receiving a bank transfer.Blockchain & Crypto Terms
Blockchain
Distributed digital ledger that records cryptocurrency transactions.Wallet
Digital account for storing, sending, and receiving cryptocurrency.Wallet Address
Unique identifier for a crypto wallet, starting with 0x followed by 40 characters.Private Key
Secret code proving wallet ownership. Never share this.Seed Phrase
Recovery phrase for a wallet. Never share this.Gas Fees
Transaction fees paid to blockchain validators.Blockchain Network
The specific blockchain infrastructure (Ethereum, Polygon, etc.).Confirmation
Validation of a transaction on the blockchain.Cryptocurrency Terms
Stablecoin
Cryptocurrency pegged to a stable asset to minimize price volatility.USDC (USD Coin)
Stablecoin pegged to USD, issued by Circle.EURC (Euro Coin)
Stablecoin pegged to EUR.ETH (Ethereum)
Native cryptocurrency of the Ethereum blockchain.POL (Polygon)
Native cryptocurrency of the Polygon network.Compliance Terms
KYB (Know Your Business)
Verification process to confirm business identity and legitimacy.KYC (Know Your Customer)
Identity verification process for individuals.AML (Anti-Money Laundering)
Regulations to prevent money laundering.Compliance Monitoring
Automated checks on transactions to ensure regulatory compliance.Exchange Terms
Exchange Rate
Ratio at which one currency converts to another.Rate Lock
Exchange rate is fixed when transaction is confirmed.Status Terms
Verified
Account passed verification and is ready to use.Active
Account is operational and ready for transactions.Pending
Awaiting review, confirmation, or processing.Failed
Transaction or verification encountered an error.In Progress
Process is currently being reviewed.Abbreviations
| Abbreviation | Full Term |
|---|---|
| 2FA | Two-Factor Authentication |
| AML | Anti-Money Laundering |
| IBAN | International Bank Account Number |
| KYB | Know Your Business |
| KYC | Know Your Customer |
| EUR | Euro |
| USD | United States Dollar |
| GBP | British Pound |
| ETH | Ethereum |
| POL | Polygon |
Support Contacts
- General: support@venly.io
- Security: security@venly.io
- Platform: app.venly.io
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