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Disclaimer: This article contains AI translations and should only be used as reference. Contact Cobo’s support team through help@cobo.com if you have any questions.
This document introduces how to convert the cryptocurrency you received to fiat currency and transfer it to your bank account.

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Prerequisites

Refer to Destinations to register your bank account and pass the review by the Cobo operations team.

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Operation steps

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1. Create off-ramp request

You can create off-ramp requests through Payments App or Payments API.
  • Payments App
  • Payments API
In the development environment, you can experience the complete operational process of off-ramp through Payments App, but actual fiat currency exchange and transfer operations are not supported.
  1. Log in to Cobo Portal development environment or production environment.
  2. In the left navigation bar, click Apps, then click the Payments card to launch the App.
  3. In the App’s left navigation bar, click Settlement.
  4. You can choose to withdraw from Merchant balance or Developer balance. In this example, we choose to withdraw from the merchant balance. Click the Settle button on the Merchant balance card.
  5. In the pop-up window, select Fiat withdrawal. The payment collection mode can be Order or Top-up, corresponding to order mode and top-up mode payment balances respectively. In this example, we select order mode.
  6. Fill in the withdrawal information:
    • Select the orders you want to withdraw from. The system will automatically calculate the total cryptocurrency amount for this withdrawal.
    • Select the bank account to receive fiat currency. To add a new bank account, refer to Destinations.
On the off-ramp page, you can view the detailed fee breakdown and estimated arrival amount for this withdrawal:
  • Cross-chain fees: Since Cobo currently only supports off-ramp on specific chains, if the cryptocurrency you want to withdraw is on other chains, the system needs to first transfer it to a supported chain. This operation will incur cross-chain fees, which will be deducted from the withdrawal amount. For example, if the USDT you want to withdraw is on the Polygon chain and the system does not support USDT off-ramp on the Polygon chain, the USDT needs to be first transferred from Polygon to a supported chain (such as TRON), and pay the corresponding cross-chain fees.
  • Fees: Fees charged proportionally based on the withdrawal amount. This fee is deducted from your Fee Station account and will not affect the actual withdrawal amount.
  • Estimated arrival amount: The final fiat currency amount that the system estimates based on the current exchange rate and various fees. Since banks may charge additional fees and exchange rates may fluctuate, the actual arrival amount may differ from the estimated amount.
  1. Follow the on-page prompts to confirm and submit the withdrawal information.

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2. Complete secondary confirmation, risk control review, and transaction signing

After creating a withdrawal request, based on your submission method, risk control settings, and other factors, you need to complete the following operations:
  • Secondary confirmation: If you perform off-ramp through Payments App, you need to confirm the withdrawal request on Cobo Guard.
  • Risk control review: If you have set transaction policies, reviewers may need to approve the withdrawal request on Cobo Guard.
  • Transaction signing: If you are using MPC Wallets, Mobile Co-Signer or Server Co-Signer needs to sign to finally complete the withdrawal operation.

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3. Follow up on withdrawal status

You can subscribe to the payment.settlement.status.updated event to receive real-time updates on off-ramp status. Refer to Webhook reference to understand the detailed trigger conditions and returned data structure of each event. You can also actively query withdrawal request status through Payments App or Payments API.
  • Payments App
  • Payments API
  1. Log in to Cobo Portal development environment or production environment.
  2. In the left navigation bar, click Apps, then click the Payments card to launch the App.
  3. In the App’s left navigation bar, click Settlement.
  4. View the status and details of all withdrawal requests on the Settlement History tab.
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