Business Quick Start
Learn the fundamentals of the Bultra platform: applications, customer onboarding, accounts, and money movement.
Applications
Applications are the gateway to onboarding customers onto the Bultra platform and opening their first account. The process is dynamic—you can modify application details continuously until the status reaches READY_FOR_SUBMISSION, then submit for processing.
Application Types
Corporate Customer Applications
Required information includes:
- Company details (name, address, incorporation documents, structure)
- Digital asset questionnaire responses
- Beneficial Owner data (those owning >25% of company)
- Officer/Director information
- Authorized User details
- Default account specifications
Each person requires two forms of ID plus proof of address.
Individual Customer Applications
Required information includes:
- Individual details (name, address)
- Two forms of identification
- Proof of address
- Default account specifications
Typical Workflow
Corporate applications follow an 8-step process:
- Create application (receive
application_id) - Add individuals with KYC details
- Retrieve document IDs from status endpoint
- Upload required documents
- Check status for validation errors
- Update missing/incorrect data as needed
- Submit when
READY_FOR_SUBMISSION - Poll status until
APPROVED
Individual applications follow a similar 7-step process, skipping the individual addition step.
Application Status Lifecycle
An application progresses through these states:
| Status | Description |
|---|---|
INCOMPLETE |
Missing required data |
READY_FOR_SUBMISSION |
Minimum requirements met |
SUBMITTED / PROCESSING |
Under review |
CHANGES_REQUESTED |
Additional information needed |
APPROVED |
Customer and account created |
REJECTED |
Application denied |
Note: The status endpoint provides three critical details: document IDs, field validation errors, and overall application status.
Accepted Identity Documents
US customers need: passport OR (identity card front/back) OR (driver's license front/back).
Non-US customers need the same options.
Customers & Accounts
Customers cannot be created directly through the API. Instead, they are onboarded through the application process. The workflow collects Know Your Business (KYB) and Know Your Customer (KYC) data, which is validated and approved by Bultra and compliance partners.
Customer Types
The platform supports three customer categories:
- Businesses
- Accredited investors
- Individuals
Customer Status Management
Customer statuses control operational permissions:
| Status | Capabilities | Transitions |
|---|---|---|
| ACTIVE | Full read/update/transact access | EDD, DORMANT, CLOSED, FROZEN |
| PENDING | Read/update only; no transactions | ACTIVE, CLOSED |
| EDD | Full access with enhanced scrutiny | ACTIVE, CLOSED, FROZEN |
| FROZEN | Read/update only; no transactions | ACTIVE, CLOSED, EDD |
| DORMANT | Full access (12+ month inactive) | ACTIVE, CLOSED, EDD |
| CLOSED | Read-only; permanent state | None |
Important: Statuses suffixed with "_L2F" require Bultra action only and cannot be updated by clients.
Counterparties
A counterparty represents an entity that is external to the Bultra ecosystem. They facilitate deposits and withdrawals by serving as either the destination for funds (withdrawals) or the source (deposits). Each counterparty is linked to a specific customer and cannot be shared across customers.
Counterparty Types
Types are geographically based:
- FIAT_US: US-based entities
- FIAT_GB: Great Britain entities
- FIAT_IN: India-based entities
- CRYPTO: Blockchain-based entities
Counterparty Status
All newly created counterparties undergo mandatory AML screening before becoming transactional. The status field determines operational capabilities:
| Status | Operational | Transactable |
|---|---|---|
| ACTIVE | Yes | Yes |
| PENDING | Yes | No (AML screening) |
| FROZEN | Yes | No (requires due diligence) |
| EDD | Yes | Yes (enhanced due diligence) |
| DORMANT | Yes (unused 12+ months) | Yes |
| CLOSED | No | No |
Money Movement Overview
Bultra supports multiple money movement operations:
- Collections: Receive payments from external entities into accounts
- Withdrawals: Send fiat or cryptocurrency to external entities
- Transfers: Move funds between accounts within the platform
- Exchanges: Trade between different asset types
For detailed information about each operation, see the Money Movement guide.