Core Concepts

Understand the key entities and concepts in the Bultra platform before building your integration.

Accounts

Accounts are fundamental to the Bultra platform, serving as the core financial record for customers. Each account is backed by double-entry ledgers and belongs to a single customer while holding only one asset type (fiat or cryptocurrency).

Account Status Framework

Accounts operate under six distinct statuses, each with different permission levels:

Account Types

Fiat Deposit Accounts

Operations available:

• Opening: Use the accounts/deposits endpoint with fiat product type and asset ID
• Account information: Retrieve via accounts/deposits/{account_id} endpoint, including total and available balances
• Transactions: Access historical activity through accounts/deposits/{account_id}/transactions with filtering options
• Account listing: Query all accounts using accounts/deposits endpoint

Crypto Deposit Accounts

Crypto accounts operate similarly to fiat accounts, supporting the same endpoint structure and operations. The same balance calculation methodology applies.

GBP Accounts

New GBP account setup requires additional time due to UK Confirmation of Payee (COP) verification, which may extend to 48 hours before accounts appear in the central registry system.

Applications

Applications enable you to onboard customers onto the Bultra platform and open their first account. The application process is dynamic and supports both corporate and individual customers.

Application Types

• Corporate Customer Applications: For businesses, requiring company details, beneficial owners, officers, and authorized users
• Individual Customer Applications: For personal accounts, requiring identity verification and proof of address
• Update Applications: For adding information to already-onboarded customers (e.g., enabling new products)

Application Lifecycle

Applications progress through defined states: INCOMPLETE → READY_FOR_SUBMISSION → SUBMITTED → PROCESSING → APPROVED or REJECTED

Applications may enter CHANGES_REQUESTED state if additional information is needed.

Assets

Assets represent the currencies and tokens available on the Bultra platform. Each asset has a unique identifier and belongs to a specific network.

Fiat Assets

Government-issued currencies supported for deposits, withdrawals, and payments.

Digital Assets

Cryptocurrencies and blockchain-based tokens across supported networks.

Supported Exchange Pairs

Available trading pairs for currency exchanges on the platform.

App Assets

Use testnet asset IDs for development and testing.

Counterparties

A counterparty represents an entity that is external to the Bultra ecosystem. Counterparties facilitate deposits and withdrawals by serving as either the destination for funds (withdrawals) or the source (deposits).

Key Characteristics

• Each counterparty is linked to a specific customer and cannot be shared across customers
• All newly created counterparties undergo mandatory AML screening before becoming transactional
• Subject to enhanced transaction screenings and potential Requests for Information (RFIs)

Counterparty Types

Profile Type

The profile_type field designates whether the counterparty is an Individual or Corporation. This affects validation requirements and available transaction types.

Customers

Customers are the account holders on the Bultra platform. They cannot be created directly through the API—instead, they are onboarded through the application process.

Customer Types

• Businesses: Corporate entities with KYB requirements
• Accredited Investors: Qualified individuals with enhanced capabilities
• Individuals: Personal accounts with KYC requirements

Customer-Account Relationship

Each customer has one or more associated accounts, created during the onboarding process. A customer can hold multiple accounts in different currencies or asset types.

Retrieving Customer Information

• Single customer: customers/{customer_id} endpoint for specific customer details
• Multiple customers: customers endpoint with optional filters like type and status

Documents

Documents are files uploaded to support applications, payments, withdrawals, and other operations that require verification.

Document Types

• Identity Documents: Passports, ID cards, driver's licenses
• Proof of Address: Utility bills, bank statements
• Corporate Documents: Incorporation certificates, shareholder registers
• Transaction Documentation: Invoices, contracts (for RFI responses)

Document Lifecycle

1. Document ID is generated when required (e.g., during application or RFI)
2. Client uploads file using the Upload Document API with the document ID
3. Bultra reviews and either approves or requests re-upload
4. Approved documents unlock the associated process (application approval, payment processing, etc.)