Who provides the Global USD Account?
The Global USD Account lets you hold and use US dollar denominated balances in Request Finance. These balances are provided through an integration with Bridge (https://bridge.xyz/), a Stripe company and a US-based regulated financial services provider. Your balance is represented by USDB, a stablecoin issued by Bridge and designed to maintain a 1:1 value with the US dollar.
Who holds my funds?
When you use the Global USD Account, your balance is held in a wallet powered by Bridge. Request Finance provides the product experience and account interface, but does not take custody of your funds.
Your balance is represented by USDB, a regulated stablecoin issued by Bridge. This structure allows you to move and manage value denominated in USD globally while benefiting from Bridge’s regulated infrastructure and compliance framework.
What is USDB?
USDB is a stablecoin issued by Bridge and designed to maintain a 1:1 value with the US dollar. It is used to represent your USD denominated balance inside the Global USD Account and to enable payments and transfers.
How is USDB backed?
USDB is always backed 1:1 by reserves with the equivalent value of US dollars. These reserves contain short-dated US Treasuries, overnight US Treasury repurchase agreements, money market funds, and cash. These reserves are held in segregated accounts for the benefit of token holders and held with custodians such as Lead Bank, BlackRock, Fidelity, and Apex.
How do I pay with USDB?
Whenever you need to make a payment, whether it's crypto or fiat, Request Finance will use Bridge to automatically convert your USDB into the target currency to facilitate the payment.
What type of account are the reserves for the stablecoin held in?
USDB is backed by US dollar-denominated reserves held by Bridge in segregated, bankruptcy-remote accounts with regulated financial institutions. This ensures that the reserves are fully protected and kept separate from the operating funds of Request Finance, Bridge or its custodians. Even in the unlikely event of bankruptcy, these reserves remain accessible and are safeguarded to ensure full backing of all issued stablecoins. Please see here for terms.
Is the Global USD Account regulated?
Yes. The Global USD Account is built on top of Bridge’s regulated infrastructure. Bridge operates as a licensed Money Services Business (MSB) in the United States and holds Money Transmitter Licenses (MTLs) where required. Bridge also maintains robust compliance programs, including AML, sanctions screening, and transaction monitoring.