Individual exchange transactions
Magic provides agency services for individual transactions involving fiat currencies and virtual assets. Each transaction is agreed separately and carried out only after KYC/AML checks have been completed.
In addition to its card product, Magic provides agency services for individual exchange transactions to verified clients. Under an agency agreement, the client transfers funds in a supported fiat currency with an instruction to purchase USDT or another supported virtual asset and to transfer it to the client’s own account or wallet, as designated by the client.
How it works
- Identification and verificationThe client completes identification and KYC/AML checks. No transaction is considered until these checks have been successfully completed.
- Agency agreement and transaction termsOnce verification is complete, the client and the company enter into an agency agreement and agree the terms of the specific transaction: the currency, the amount, the virtual asset, the rate and execution terms, the payment details and the receiving address.
- Transfer of fundsThe client transfers funds in the agreed currency — for example USD, AED, RUB or another supported currency — using the payment details set out in the agreement.
- Purchase of the virtual assetIn accordance with the client’s instruction, Magic purchases USDT or another agreed virtual asset.
- Transfer to the client’s walletThe purchased virtual asset is transferred to the client’s own account or wallet as designated by the client, or to another account or wallet where this is provided for in the agreement and the required verification procedures have been completed.
- Confirmation documentsOn completion of the transaction, the client is provided with documents confirming that it has been carried out.
Who can use the service
The service is not an automated, mass-market exchange service. Each client and each transaction is assessed individually. Before any service is provided, the client must complete mandatory identification and KYC/AML checks.
Depending on the nature and size of the transaction, Magic may request additional information and documents, including evidence of the source of funds and of the economic rationale of the transaction.
A transaction may be carried out only after the client has successfully completed Magic’s internal procedures and, where applicable, the checks of the company’s banking, payment and other partners. Magic reserves the right to decline a transaction based on the outcome of these checks.
Available transactions
Depending on the client’s jurisdiction, the outcome of verification and the company’s current capabilities, the following may be available:
- fiat currency → USDT or another virtual asset;
- virtual asset → fiat currency;
- exchange between supported currencies and virtual assets;
- individual agency transactions on the client’s instruction.
The list of available currencies, virtual assets, limits and settlement methods is determined individually before each transaction. The service is not available to clients from the countries and territories listed in Restricted Countries and Territories.
Request a transaction
Write to us, stating the currency, the approximate amount and the virtual asset required. We will confirm which checks and documents are needed and agree the terms of the transaction. Replies are sent on business days.