Currency

Updated on 16 Jul 2024

Definition

Currency in the System represents the counting unit. It means that currency can be any entity that is counted in the system. It can be fiat currency, electronic money, points, bonuses, etc. 

Currencies are unique by their IDs which is generated by the system for each created currency.

Currency entity structure

Attributes

API GET /currencies 

field name

UI label in Currency listdescriptionvalue example
idIDunique UUID, generated by the system for each currency4a4917e4-7134-470f-9f89-9d1e26217acd
currencyCodeCodecan be any code specified by user or ISO currency code for fiat currencyUSD
digitalCodeDigital Codecan be any code specified by user or ISO currency code for fiat currency840
nameNamecurrency nameUS Dollar
symbolSymbolcurrency symbol for representation where it’s required $
fractionFractioncurrency fraction – how many fractional units contains basic monetary unit, for example USD fraction is 100 which means that 1 dollar contains 100 cents100
activeStatusstatus of currency. If active=false all operations for client`s wallets in this currency are forbidden, as well as the creation of new wallets in this currency (for both, Service and Business Users). true
snPrefixSN Prefixthis prefic can be used in the when generating wallet serial number, currently is not used840_

Currency wallet relation

Each wallet in the system is linked to a particular Currency during wallet creation. A wallet can be linked to one currency. 

Currency patterns

Pattern to set currency: [id currencyCode name]: 4a4917e4-7134-470f-9f89-9d1e26217acd USD dollar

UI pattern for other usage: [currencyCode name]: USD dollar

Currency in accounting

Accounting in the system is always performed within one Currency. If several USD are created in the system as different currencies they are considered different currencies because they have different IDs. So, if it is required to move issued electronic money between different Currencies, top-up/withdrawal or exchange operations are used. 

For this purpose, the currency exchange rate can be set up as 1. 

Another example, if it is required to perform a transfer from wallet 1 in currency USD with ID 1 to wallet 2 in currency USD with id 2, the following operations should be done: 

  • exchange operation if both wallets belong to the same user 
  • exchange – transfer – exchange if wallets belong to different users
  • or withdraw – top-up if wallets belong to different users

 

Currency

 

APIs for Currency management