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Every PIK account — both platform accounts and connected accounts — has a multi-currency wallet. Funds are held in the wallet under the currency in which they were received. Your platform can read balances, move funds between wallets, trigger FX conversions, and initiate on-ramp and off-ramp operations.

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How wallets work

A wallet is a logical container for funds. Each account has a single wallet that can hold balances in multiple currencies simultaneously.
  • Inbound AUD bank transfers credit the AUD balance.
  • Inbound USDT credits the USDT balance.
  • Inbound USDC credits the USDC balance.
  • FX conversions move value between currency balances within the same wallet.
  • Payouts debit the relevant currency balance.
Funds never leave PIK custody until a payout is executed to an external bank account or crypto address.

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Supported currencies

AUD (Australian Dollar) — inbound, hold, convert, payout. USD (US Dollar) — inbound, hold, convert, payout. USDT (Tether) — inbound, hold, convert, on-ramp, off-ramp, payout. USDC (USD Coin) — inbound, hold, convert, on-ramp, off-ramp, payout. HKD (Hong Kong Dollar) — inbound, hold, convert, payout. SGD (Singapore Dollar) — inbound, hold, convert, payout. PIK is a non-China market platform. CNY is not supported.

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On-ramp and off-ramp

PIK supports crypto-to-fiat and fiat-to-crypto conversion for USDT and USDC via the FX Conversion engine. On-ramp (crypto to fiat) — Convert a USDT or USDC balance into AUD or USD. Use this when you receive stablecoin payments but want to hold or pay out in fiat. Off-ramp (fiat to crypto) — Convert an AUD or USD balance into USDT or USDC. Use this when you want to move value into stablecoins for cross-border transfer or withdrawal to an external wallet. Both on-ramp and off-ramp use the same FX Conversion API as fiat-to-fiat conversions. See FX Conversion for full details.

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Third-party fund-in

PIK supports third-party fund-in, meaning a connected account can receive inbound transfers sent by a party other than the account holder. This is critical for platforms where customers receive payments from their own clients or counterparties. For example, a connected account belonging to Business A can receive an AUD bank transfer initiated by Business B — a completely separate third party with no PIK account. PIK credits the funds to Business A’s wallet automatically. Third-party fund-in is supported for:
  • AUD inbound via Virtual Account Number — any person or business with an Australian bank account can send to the connected account’s assigned BSB and account number.
  • USDT and USDC inbound — any sender with a compatible crypto wallet can send to the connected account’s assigned crypto address.
There is no restriction on who the sender is and no requirement for the sender to be registered with PIK.

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Virtual Account Numbers

PIK issues each connected account a unique Virtual Account Number — a real Australian BSB and account number dedicated exclusively to that account. Any third party can send AUD to this number from any Australian bank. See Virtual Account Numbers for full details on issuance and management.

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Retrieve wallet balances

Call GET /api/v1/accounts//wallet/balances with your platform token and the x-on-behalf-of header set to the connected account ID. The response returns a list of currency balances. Each entry includes:
  • currency — The currency code, for example AUD, USDT, or USDC.
  • available — Funds available for conversion or payout right now.
  • pending — Inbound funds received but not yet settled.

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Move funds between wallets

Platforms can top up a connected account wallet from the platform wallet by calling POST /api/v1/transfers. Specify the destination connected account ID, currency, amount, and an optional reference. To collect a platform fee from a connected account back to the platform wallet, call POST /api/v1/transfers with the source set to the connected account ID and destination set to the platform wallet. Transfers cannot exceed the available balance of the source wallet. Attempting to transfer more than the available balance returns a 402 insufficient funds error.