Avici, a Solana-based decentralized neobank bridging crypto and traditional finance, has launched Virtual Accounts on Solana. The new feature provides users with a personal account number and International Bank Account Number (IBAN) to receive fiat payments seamlessly.
SolanaFloor, a prominent media and analytics platform, announced the news via X. Funds sent to these Virtual Accounts are automatically converted to stablecoins and credited directly to the user’s self-custodial wallet. This process removes the need to interact with third parties for converting cryptocurrencies or fiat payments into stablecoins.
Each user receives a unique account number or IBAN, primarily for receiving fiat payments from anywhere in the world. The Virtual Accounts are powered by MoonPay, which offers a step-by-step video guide for a simple and seamless process.
Users can convert USD or EUR directly into their Avici wallet. They simply set up their names, deposit funds from their bank into the Avici wallet, and receive USDC. Since Avici is connected to the user’s bank account, they can also withdraw funds back to their bank. This setup allows users to receive payments, salaries, and remittances easily. The account number or IBAN also helps protect users from scams or fraudulent access.
