External Accounts V2

Overview

External accounts are bank accounts or crypto wallets that users own at their financial institutions and register with the Zynklabs platform. This registration allows Zynklabs to identify and process transactions to and from these accounts. Users simply declare which accounts they will use for deposits and withdrawals, without any direct technical connection between Zynklabs and the financial institutions. Every transaction requires properly registered external accounts based on their jurisdiction type.

External Account Addition Process

Identify Required Fields

When creating an external account, the following fields are required:

jurisdictionID: The jurisdiction to which the account belongs

type: The account type (enum: deposit, withdrawal, deposit_and_withdrawal, plaid)

ownershipType: The ownership type (enum: first_party, third_party)

Account details (either account or wallet depending on jurisdiction type)

Determine Jurisdiction Type

Use the Get Jurisdictions API to determine if your jurisdiction is blockchain or fiat-based.

Prepare Payload

Construct your payload according to the jurisdiction-specific requirements detailed in the sections below.

Types of External Accounts

Deposit Account

Withdrawal Account

Deposit & Withdrawal Account

Plaid Account

type: deposit

Deposit accounts are used to deposit funds into the Zynklabs platform.

Account Ownership

First Party Account

Third Party Account

ownershipType: first_party

First party accounts are used to deposit and withdraw funds.
Account owner is a KYC-verified entity within the Zynk platform.

Jurisdiction Types

Blockchain Jurisdictions

Fiat Jurisdictions

For blockchain jurisdictions (e.g., Solana, Ethereum), the wallet address is required.

The wallet object structure is consistent across all blockchain jurisdictions, making implementation straightforward.

Key Points:

Only requires a valid wallet address

No additional KYC information needed in the payload

Same structure works for all blockchain networks

Example:

{
  "jurisdictionID": "jurisdiction_ab6f2a82_51da_497f_a124_96fc360ad8de",
      "type": "deposit",
      "ownershipType": "first_party",
  "wallet": {
    "walletAddress": "5sFAivsBUHKsYxzbQok1XVeTh9ZswfsDUcd6h6gvhPPZ"
  }
}

Jurisdiction-Specific Account Structures

Each jurisdiction has unique requirements for account information. Ensure you provide all required fields with the correct format to avoid transaction processing issues.

The payloads for each jursidiction can also be dynamically built. Please refer to Fetch requirements for External Accounts for more details.

Implementation Requirements

Transaction Flow Requirements

Fiat to Crypto

Add both the source bank account and customer's crypto wallet as separate external accounts.

Crypto to Fiat

Add both the receiving bank account and source crypto wallet as separate external accounts.

Fiat to Fiat

Add both source and receiving bank accounts separately.

AED Jurisdiction-Specific Requirements

Getting Started

Determine Jurisdiction Type

Use the Jurisdiction API to determine the jurisdiction type for your account.

Prepare Payload

Prepare the appropriate payload with required fields:

jurisdictionID: Obtained from the Jurisdiction API

type: "deposit", "withdrawal", or "deposit_and_withdrawal"

ownershipType: "first_party" or "third_party"

Account details: Either account or wallet based on jurisdiction type

Use in Transactions

Use the registered account IDs (fromAccountId and toAccountId) in transaction simulation requests

External Accounts V2

Overview#

External Account Addition Process#

Types of External Accounts#

Account Ownership#

Jurisdiction Types#

Jurisdiction-Specific Account Structures#

Implementation Requirements#

Getting Started#