Invest with Fiat
How to invest using SWARM's fiat-to-crypto OTC service
SWARM account holders can now invest fiat directly into investment
opportunities using our global currency partner Mercury-FX.
Use MercuryFX industry leading payment gateway to invest fiat currencies into the security token offerings on SWARM
Do that at market leading foreign exchange (FX) rates
MercuryFX have leading international FX experience and are one of the first to work on top of the Ripple FX protocols
Payments can be provided in 30+ currencies with gateways for now across Europe and soon include gateways in other locations in Asia such as Hong Kong
How it Works
Firstly, register an account on SWARM and verify your identity (KYC). Start here.
To enable fiat deposits, you will need to open an account on MercuryFX, SWARM fiat payment services partner, and verify your identity. Head over to https://www.mercury-fx.com now to register.
When registering with MercuryFX, select UK for the following questions:
What countries will you be transferring money to? Select: United Kingdom (UK)
What countries will you be receiving funds from? Select: United Kingdom (UK)
Once MercuryFX has approved your account, send your fiat funds from your bank account to one of the accounts in the table below, specific to the currency you are depositing.
Once you have made your transfer, send an email to email@example.com from the same email address you are registered with on SWARM and confirm that you have sent a fiat transfer. This allows us to identify your deposit and assign it to your SWARM account. In your email, include the following details:
The currency you deposited
The amount you deposited
The date the transfer was sent
The investment opportunity you are intending to invest into
The reference you used for the transfer.
The last step to enable fiat being credited to your account is to create a wallet in your SWARM account for the currency you are depositing.
In your SWARM account, go to your wallet https://invest.swarm.fund/wallet/overview
Click on Deposit
Select the currency from the dropdown box, and click “Request New Address”. Ignore any error messages.
As soon as your funds are received by MercuryFX, you will receive an email confirmation and the funds will be credited to your SWARM account. You will then be able to invest these into any opportunity on SWARM that accepts fiat funds.
Once the investment opportunity you then invest into reaches its funding goal, you will receive the tokens (including any bonus/discount tokens applied) into your SWARM account.
Investments in opportunities that don’t meet their funding goal will be fully refunded and automatically credited to your SWARM account .
To withdraw fiat from your account, send an email with your request to firstname.lastname@example.org. Withdrawals will be performed by MercuryFX and their international banking partners. Since this is a new service, the withdrawals will be observed from the SWARM team and therefore might take longer than 24h.
Details you may need to use for your wire transfer.
Note, you must send the transfer from a bank account in the same name as your account registered on SWARM:
Fiat currencies enabled at MercuryFX for now (list will continually be updated):