First-party offramps

Overview

Fern's first-party offramps enable your customers to convert any ERC-20 token into a fiat currency, delivering funds to their bank account via local payment rails.

Step-by-step guide

1

Create a customer

Use the Customer API to create your end customer in the Fern system. You must have customerId to proceed with the next steps in the process. Your customer does not need to be ACTIVE to have associated payment accounts and crypto wallets.

2

Create a payment account for your customer

Once you have the customer's customerId, you can create a payment account for the customer. For first-party offramps, the destination account is generally an external bank account. You can create an external bank account either by sending the relevant bank account creation details via API or by using a custom-branded hosted bank account form.

To create a payment account using the bank account form:

• Create a payment account link using the POST endpoint:

  • Set paymentAccountType to EXTERNAL_BANK_ACCOUNT

  • Use the correct customerId

  • Optionally include a nickname for the account if desired

• The response will include a URL you can share with your customer to enter their payment account details.

• Once the customer has entered their payment account details, you will receive a webhook that the payment account has been created (which will include the paymentAccountId) or list all payment accounts for the customer to find the specific account and paymentAccountId . You will need the paymentAccountId for the next steps.

To create a payment account via API:

• Create a payment account using the POST endpoint:

  • Set paymentAccountType to EXTERNAL_BANK_ACCOUNT

  • Use the correct customerId

  • Optionally include a nickname for the account if desired

  • Include the externalBankAccount object with all required fields

• The response will include the paymentAccountId that you can use for next steps.

3

Generate quote for the offramp

Before initiating an offramp transaction, you must create a quote. The quote returns relevant information such as exchange rate, Fern fees assessed on the transaction, and a quoteId that you can use when creating a transaction. To create a quote for your customer, your customer needs to be ACTIVE. Quotes expire after 5 minutes. The exchange rates in quotes are not guaranteed and exchange will settle at market rates when a transaction is initiated.

To create a quote for a first-party offramp:

• Create a quote using the POST endpoint:

  • Include customerId

  • For the source object, include the sourceCurrency, sourcePaymentMethod, and sourceAmount. You do not need to include the sourcePaymentAccount for an offramp. If this is an offramp of USDC, you would enter sourceCurrency as USDC and sourcePaymentMethod as the source chain (e.g. BASE).

  • For the destination object, include the destinationPaymentAccountId (which would be the payment account created in step 2), destinationPaymentMethod (associated with the payment account in question), and the destinationCurrency. The latter two fields can be derived from the payment account itself. If you didn't store this information, you can retrieve the payment account and find the relevant information to include in your quote.

• The quote response will include quoteId , estimated exchange rate, the amount expected to receive, and the fees. You'll need quoteId for the next step.

4

Submit transaction

If the quote looks good to you, you can submit a transaction using the previously generated quoteId. Creating a transaction in the Fern API generates a set of transfer instructions. For first-party offramps, these transfer instructions will include a crypto wallet address where you/your customer can transfer funds to initiate the rest of the transaction.

5

Monitor transaction status

You can track the progress of a transaction in 3 ways:

1. Call the Transactions API endpoint using the transactionId to see the most recent status of the transaction

2. Subscribe to webhooks for real-time notifications on status changes

3. Refer to the Developer dashboard to see your customers and their transactions

For a full list of transaction statuses, refer to Transaction Statuses.