On-Chain Integration
Overview
RendBit integrates on-chain capabilities to connect traditional financial systems with blockchain networks. This allows users to move funds across borders instantly, swap currencies, and settle transactions on-chain while remaining compliant and secure. By combining custodial wallet infrastructure with Stellar-powered settlement, RendBit provides a seamless bridge between fiat, stablecoins, and other digital assets, making cross-border transactions faster, transparent, and verifiable.
On-chain integration also enables features such as strict send and strict receive, ensuring that transactions arrive in the exact amount and currency intended. This eliminates hidden fees, reduces reconciliation complexity, and allows businesses and individuals to operate with predictable cash flows across borders.
Workflow
User Initiates Transaction: A user deposits funds into their RendBit wallet in local currency.
On-Chain Routing: RendBit converts the funds to the appropriate on-chain asset (e.g., XLM or stablecoin) using the Stellar network.
Compliance & Verification: KYC and transaction compliance checks are applied automatically to ensure regulatory requirements are met.
Settlement: Funds are sent to the recipient’s wallet or bank account, either in local fiat or the chosen digital asset, with strict-send/strict-receive guarantees.
Notification & Analytics: Both sender and receiver are notified instantly, and transaction data is logged for reporting and analytics.
Components
Custodial Wallet: Manages user funds securely while abstracting private key management.
Stellar Settlement Layer: Enables fast, verifiable, and cross-border on-chain transfers.
KYC & Compliance Module: Ensures transactions adhere to local and international regulations.
Conversion Engine: Handles real-time swaps between fiat and digital assets to facilitate cross-border settlement.
APIs & Integrations: Allow third-party platforms and fintechs to integrate wallet and on-chain functionality seamlessly.
Benefits
Instant, Transparent Settlements: Eliminates delays and uncertainty in cross-border transactions.
Predictable Cash Flow: Strict-send and strict-receive functionality ensures the exact amount arrives, reducing risk for businesses and freelancers.
Interoperability: Supports both fiat and on-chain assets, connecting traditional finance with blockchain networks.
Regulatory Compliance: Built-in KYC and monitoring reduce risk for users and partners.
Scalability: Modular components allow financial institutions and fintechs to plug in and expand services quickly.
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