July & August Release Notes

We added several substantial features to the platform in July and August. Here’s the list:

New Features

:ship: Cash Management Accounts (in UAT)

We now support Cash Management Accounts (CMA) which enable end-users to either maximize FDIC coverage or invest in Money Market Funds.

To learn more, go to Cash Management Accounts.

:ship: Real-Time Payments

Now you can use our APIs to send out Real-Time Payment (RTP) disbursements. RTP will work with existing ACH-US nodes where RTP will be an option available for banks that support RTP. If you are curious about when it makes sense to use RTP and when not to, please read our blog post: Comparing ACH, Push-to-Card, and Real-Time Payments.

To enable this capability, we are adding a new field to your ACH-US nodes called speeds, with possible values being NEXTDAY / SAMEDAY / RTP. In all cases, when NEXTDAY is supported, SAMEDAY is as well, so functional variance will be RTP support or not. During the time of transaction creation, you will need to supply extra.speed specifying your preference. This field defaults to NEXTDAY.

With this update, we are now deprecating support for the extra.same_day field. To learn more about this update please go to ACH API Docs and Transactions API Docs.

:ship: TXP ACH Payments

TXP ACH is a popular way of paying state and federal tax payments in the US. We are now also adding support for TXP payments on production. Creating TXP payments is as easy as adding additional payment details under txp_meta while Creating an ACH Transaction.

To learn more, go to TXP Meta Fields.

:ship: Interchange Soft Descriptor

Now for all INTERCHANGE-US transactions, we support extra.interchange_meta.soft_descriptor field. Soft Descriptor functionality enables you to dynamically modify the statement descriptor on a per-transaction basis.

To learn more, go to Transaction API Docs.

:ship: Interest on Stable Coins

Now all stable coins on CRYPTO-US are entitled to an interest rate, so if your customers are holding any stable coins with us, they will automatically start receiving an interest payment once a month.

To learn more, go to Crypto Hub.

:ship: USDC now on Crypto Hub

CRYPTO-US now supports USDC trading, storage and transmission as well. This means that now customers can earn interest on USDC (along with DAI).

To learn more, go to Crypto Hub.

:ship: ID Score V2

ID Score is now generally available and comes with a 15% improvement in predictions from its predecessor. ID Score V2 introduces trust_level as an easy way to interpret the ID Score results. As a reminder, our governance module can be used to automate workflows based on the user’s ID Scores (and now trust_level) so a customer with a higher ID Score submits less KYC while a customer with a lower ID Score submits more. With this change, we are deprecating the use of id_score and will be migrating all customer KYC workflows to trust_level by the end of September 2021.

To learn more, go to ID Score.