Introduction

Veem’s Multi-Currency Wallet (MCW) solution empowers platforms and fintechs to embed global wallet functionality directly into their user experience. With MCWs, you can support end-users holding and converting funds in multiple currencies without the need for separate accounts or international transfers.

This guide outlines how fintech platforms and digital-first businesses can use Veem’s MCW solution to give customers access to a global wallet infrastructure—supporting currency management, internal transfers, and seamless payouts, all within a single integration.

 
 

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Overview

What is a Multi-Currency Wallet?
Veem’s MCW enables Fintech’s and other platforms to offer customers a Digital Wallet with multiple currency balances, allowing users to store, convert, and send funds globally. This feature-rich Wallet solution is built to support digital platforms looking to create a borderless experience for customers.

NOTE: MCWs are not traditional bank accounts and are intended for platform-level embedded experiences.

 
 
Key Use Cases
Veem’s MCW solution supports:

  • B2B platforms with global vendors: Streamline payouts by enabling vendors to choose how and when they convert or withdraw funds.
  • Gig economy and contractor platforms: Let users hold, convert, and use their earnings in the currency of their choice.
  • Subscription and SaaS platforms: Accept payments in multiple currencies and hold them until conversion or disbursement.
  • Fintechs and neobanks: Power your app with embedded global wallets, allowing users to manage funds in different currencies seamlessly.

 
 
Supported Countries & Currencies
Veem’s MCW solution is available to users in over 100 countries, providing a truly global reach for your platform. Each wallet can hold and manage funds in up to 15 currencies, subject to platform configuration. For a full list of countries where Veem Wallet is available, please refer to the appendix.

Supported currencies include:

  • USD
  • CAD
  • GBP
  • EUR
  • AUD
  • INR
  • JPY
  • MXN
  • KRW
  • SAR
  • ZAR
  • TRY
  • IDR
  • CNY
  • PHP

 
 
Wallet Configurations
Veem’s Wallet Solution gives you control over the core functions that shape your payments experience. Configure operational settings that align with your business model, user needs, and regional requirements.

 
Payment Methods

  • Define which funding and withdrawal options (e.g., bank transfer, debit, credit, wallet balance) are available on your platform.
  • Enable or restrict methods based on geography or user profile.

 
Fee Setting & Monetization

  • Set platform-specific transaction fees to generate revenue from Wallet usage.
  • Mark up Veem’s standard fees and decide whether fees are paid by the sender or recipient.
  • Implement flexible fee logic by region, payment method, or user tier.</li

 
FX Margin Management

  • Set your own FX conversion margins to monetize currency exchanges.
  • Use Veem’s API to fetch real-time exchange rates and apply your custom markup.

 
Balance Threshold Settings

  • Veem provides real-time updates whenever funds move in or out of the Wallet.
  • Partners can use these updates to implement custom logic for balance monitoring, currency conversions, and user notifications.

 
 

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How It Works

Onboarding
Veem manages the entire onboarding process for both your business and your end users. We collect and verify KYC/KYB documentation, ensure regulatory compliance across markets, and offer clear implementation paths—so you can start transacting quickly without bottlenecks or manual lift.

 
 
Funding & Withdrawal Methods
Veem supports two convenient funding and withdrawal options for MCW.

 

 

You can customize funding and withdrawal options by region, user type, or transaction size, ensuring the experience aligns with your business model and customer needs.

 
 
Sending Payments via API with Veem Wallet
Once a Wallet is funded, payments can be sent programmatically to over 100 countries using Veem’s API. This includes access to real-time currency quotes, balance checks, payment creation, and tracking.

How to send a payment via API:

  1. Use the /wallets endpoint to check your available Wallet balance.
  2. Generate a quote for the transaction using the /quotes endpoint.
  3. Create the payment using the /payments endpoint, referencing the quote and recipient details.
  4. Submit the payment and retrieve a confirmation with tracking information.
  5. Monitor the status in real time through the /payments/{id} endpoint or webhooks.

 
 
Receiving a Payment into a Wallet via API
Funds can be collected into a Wallet using Veem’s API by initiating and sharing secure payment requests or invoices. Payments are processed through Veem’s hosted experience, with funds deposited directly into the specified Wallet.

Payment collection into a Wallet:

  1. Create a payment request or invoice via the /paymentRequests or /invoices endpoint.
  2. Share the request link with the payer.
  3. The payer selects a funding method and completes the transaction.
  4. Once processed, funds are deposited into the Wallet in the chosen currency.
  5. Receive deposit notifications using webhooks or view the updated balance using the /wallets endpoint.

 
 

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Embedding Multi-Currency Wallets

Seamlessly integrate Veem’s MCW solution into your platform using the method that works best for your team. Whether you’re looking for rapid deployment or custom builds, Veem has an option to fit your product roadmap.

Integration Options:

  • Embedded Plugins: Plug-and-play modules that get you up and running with minimal code.
  • APIs: Build customized, fully branded wallet experiences with robust API documentation and developer support.
  • Veem Redirect: Use Veem’s hosted interface to give users access to wallet functionality without a full integration.

No matter the integration path, your users will gain access to a powerful, multi-currency wallet infrastructure designed to scale as your platform grows.

 
 

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Compliance and Security Standards

Veem’s Solutions are built on a foundation of global regulatory compliance and security, helping partners embed payments with confidence and trust.

We maintain an extensive network of licenses, regulatory registrations, and security protocols to ensure that all transactions are safe, compliant, and transparent.

 
 
Licensing and Regulatory Framework

  • Licensed Money Services Business (MSB) in the United States, regulated by FinCEN (Financial Crimes Enforcement Network).
  • Licensed MSB in Canada, regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada).
  • Registered with AMF (Autorité des marchés financiers) for financial services in Québec.
  • In partnership with licensed providers in Australia and registered with AUSTRAC (Australian Transaction Reports and Analysis Centre).
  • Licensed and operating under compliant frameworks across the EU and UK to support cross-border payments.

 
 
AML/KYC Compliance

  • Comprehensive, global Know Your Customer (KYC) and Know Your Business (KYB) capability enabling onboarding in most regions.
  • Compliance with Anti-Money Laundering (AML) regulations across supported regions.
  • Ongoing customer and transaction monitoring to detect, report, and prevent suspicious activities.

 
 
Security and Reporting Standards

  • End-to-end encryption and secure data handling practices
  • Real-time transaction monitoring systems to identify fraud and maintain regulatory reporting requirements
  • Compliance with key industry standards, including PCI DSS for payment data security and SOC 2 for data handling and operational controls.
  • Adherence to major global data protection laws, including GDPR (EU), PIPEDA (Canada), and applicable U.S. state privacy laws such as CCPA (California)

 
 

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Appendix

Supported Countries & Currencies


 

*Payments via a Credit or Debit card will be charged in USD.

 
 

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