Onchain Business Banking

Onchain Business Banking

Fern's onchain business banking product is a spending and savings account built for global businesses and distributed teams, bringing crypto and fiat together into a single account experience. It enables businesses to hold, receive, convert, and send money across both crypto and fiat rails without needing separate banking and crypto infrastructure.

Core Account Features

• USD Virtual Accounts: Receive USD payments from counterparties into a virtual dollar-denominated account, with balances automatically credited in crypto — bridging traditional banking expectations with onchain settlement.
• Crypto-to-Fiat Payments: Pay vendors, contractors, and employees in USDC or other crypto; recipients receive their local fiat currency. Enables seamless global payroll and vendor settlements without requiring recipients to hold crypto.
• Seamless Conversions: Flat, transparent pricing for all currency conversions via Fern's Currency Multiplex, which automatically finds the optimal exchange route.
• Automated Offramping Rules: Set automation rules to convert and offramp incoming crypto payments to a preferred bank account automatically.

Wallet Infrastructure

Fern wallets are Gnosis Safe-based multi-signature wallets that maintain the same address across all supported chains, eliminating chain-specific address management. USDC is chain-agnostic — receive on any chain, send on any other chain, with no manual bridging required. Gas fees are subsidised for account holders.

Target Customers

Global businesses, Web3 startups, DAOs, remote-first teams, and companies that receive crypto payments and need to manage onchain treasury alongside fiat operations.