Transfers

A transfer moves crypto or stablecoins from an originator to a beneficiary, each of them a customer of an institution. Before the funds move, the two institutions exchange the Travel Rule data about the transfer.

Three separate things

Authorization comes first and does not depend on the settlement, so a transfer can be authorized and not yet settled, or settled before every institution has authorized it.

What each institution sees

Each institution keeps its own record of the transfer and they share only what they send each other, so two institutions can show different statuses for the same transfer.

A requirement is set by one institution and usually met by the other. On a deposit, for example, the receiving institution sets the requirement to receive the Travel Rule data, and the sending institution meets it by sending that data. The name check is one the receiving institution sets and meets itself. Every value of every status is listed in Statuses.

How a transfer moves

1. The originator’s institution creates the transfer. Notabene finds the beneficiary’s institution from the address, or the transfer names it.
2. Each institution’s policies evaluate it, and the requirements on each side open.
3. Each institution is authorized once its verdict is to approve and its requirements are met. A flagged transfer waits for a person on that institution’s team.
4. When every institution is authorized, the status is ReadyToSettle. The originator’s institution sends the funds and records the transaction hash.

Withdrawals walks through these steps as the sender and Deposits as the receiver, including a deposit that arrives before its data. Every step is recorded in your audit trail, which Security and status explains.

Reading it in the API

The same requirement names its two institutions differently in a transfer and in an event:

curl https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80 \
  --header 'Authorization: Bearer YOUR_ACCESS_TOKEN'const response = await fetch('https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80', {
  method: 'GET',
  headers: {
    Authorization: 'Bearer YOUR_ACCESS_TOKEN',
  },
});
const answer = response.status === 204 ? null : await response.json();import requests

response = requests.get(
    'https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80',
    headers={'Authorization': 'Bearer YOUR_ACCESS_TOKEN'},
)
answer = None if response.status_code == 204 else response.json()

{
  "id": "8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80",
  "type": "Transfer",
  "status": "Active",
  "direction": "Incoming",
  "counterparty": "did:web:originator.example:pt",
  "asset": "eip155:1/slip44:60",
  "amount": "0.5",
  "requires_action": true,
  "agents": [
    {
      "agent_did": "did:web:originator.example:pt",
      "role": "VASP",
      "status": "Authorized",
      "policies": [
        {
          "type": "WalletAddressConfirmation",
          "status": "Satisfied",
          "from_did": "did:web:beneficiary.example:pt"
        }
      ]
    },
    {
      "agent_did": "did:web:beneficiary.example:pt",
      "role": "VASP",
      "status": "Pending",
      "policies": [
        {
          "type": "ReceiveTRInfo",
          "status": "Pending",
          "from_did": "did:web:originator.example:pt"
        },
        {
          "type": "Authorization",
          "status": "Satisfied",
          "from_did": "did:web:originator.example:pt"
        },
        {
          "type": "BeneficiaryNameMatch",
          "status": "Pending",
          "from_did": "did:web:beneficiary.example:pt"
        }
      ]
    }
  ]
}

curl https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80 \
  --header 'Authorization: Bearer YOUR_ACCESS_TOKEN'

const response = await fetch('https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80', {
  method: 'GET',
  headers: {
    Authorization: 'Bearer YOUR_ACCESS_TOKEN',
  },
});
const answer = response.status === 204 ? null : await response.json();

import requests

response = requests.get(
    'https://sandbox.notabene.id/api/v1/transfers/8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80',
    headers={'Authorization': 'Bearer YOUR_ACCESS_TOKEN'},
)
answer = None if response.status_code == 204 else response.json()

{
  "id": "8f3c2a1e-5b7d-4c90-a1f2-3e4d5c6b7a80",
  "type": "Transfer",
  "status": "Active",
  "direction": "Incoming",
  "counterparty": "did:web:originator.example:pt",
  "asset": "eip155:1/slip44:60",
  "amount": "0.5",
  "requires_action": true,
  "agents": [
    {
      "agent_did": "did:web:originator.example:pt",
      "role": "VASP",
      "status": "Authorized",
      "policies": [
        {
          "type": "WalletAddressConfirmation",
          "status": "Satisfied",
          "from_did": "did:web:beneficiary.example:pt"
        }
      ]
    },
    {
      "agent_did": "did:web:beneficiary.example:pt",
      "role": "VASP",
      "status": "Pending",
      "policies": [
        {
          "type": "ReceiveTRInfo",
          "status": "Pending",
          "from_did": "did:web:originator.example:pt"
        },
        {
          "type": "Authorization",
          "status": "Satisfied",
          "from_did": "did:web:originator.example:pt"
        },
        {
          "type": "BeneficiaryNameMatch",
          "status": "Pending",
          "from_did": "did:web:beneficiary.example:pt"
        }
      ]
    }
  ]
}

Here the beneficiary’s institution reads a deposit that the originator’s institution has already authorized. Its own side is still Pending, because the Travel Rule data has not arrived and the name check is open.