Mo’s virtual accounts allow you to receive and send local fiat currencies through a single API or dashboard, which are then automatically converted to or from digital dollars (USDC).
How Virtual Accounts Work
When you open a virtual account with Mo, you get local banking details (like an IBAN, ACH routing number, or CLABE) that act as a bridge between traditional finance and your digital dollar wallet.
- Receive Payments: Collect funds from 1st-party (your own) or 3rd-party accounts.
- Automatic Conversion: Funds are settled into USDC in near-real-time.
- Global Reach: Access local payment rails across major markets.
Supported Currency Rails
Virtual account capabilities vary by currency and region. Select a currency below to view specific rules for 1st/3rd party payments and volume limits:
- USD (US Dollar): Supports ACH and domestic Wires.
- EUR (Euro): Supports SEPA transfers across 30+ European nations.
- MXN (Mexican Peso): Supports SPEI transfers with high volume limits.
- BRL (Brazilian Real): Supports PIX for instant settlement.
Key Considerations
- Compliance & KYC: All virtual account users must complete identity verification.
- Bank Holidays: Traditional rails are subject to banking hours and holiday schedules.
- Volume Limits: Limits depend on your verification level and the specific currency rail.
