# FiatDesk > FiatDesk (operated by Secret Intelligence Private Limited, Singapore) is the technology and interface that lets high-risk businesses settle USDT and USDC stablecoin revenue to USD through partner banks that accept their sector. Partner banks issue deposit addresses, convert stablecoins and hold funds; FiatDesk never holds client money. FiatDesk screens every deposit, vets clients and monitors flows, and packages that work for each bank’s compliance team. FiatDesk serves iGaming operators, Payment service providers, Crypto exchanges and OTC desks, Forex and CFD brokers, Remittance and money transfer. Pricing is one all-in rate of 0.9–1.2% for settling stablecoin deposits to USD. Onboarding (KYB, bank match, deposit addresses, first settlement) takes about one week. Contact: contact@fiatdesk.com. Book a call: https://cal.com/fiatdesk/call. ## Site - [Home](https://fiatdesk.com/): the platform, how a stablecoin deposit settles, risk and compliance, multi-bank resilience, pricing and onboarding - [Who we serve](https://fiatdesk.com/who-we-serve): the problem for high-risk businesses and how FiatDesk works for each sector - [FiatDesk Wiki](https://fiatdesk.com/wiki): An open encyclopaedia of stablecoin settlement for high-risk businesses. - [Terms and Conditions](https://fiatdesk.com/terms) and [Privacy Policy](https://fiatdesk.com/privacy) ## Wiki: Stablecoin fundamentals - [Blockchains for stablecoin settlement](https://fiatdesk.com/wiki/blockchains-for-settlement.md): How businesses choose the blockchain a stablecoin moves on. Covers issuer support, finality, liquidity, counterparty coverage and the operational risk of sending funds on the wrong network. - [Card networks and stablecoin settlement](https://fiatdesk.com/wiki/card-networks-and-stablecoin-settlement.md): How Visa and Mastercard are using stablecoins in 2026: Visa's USDC settlement for issuers and acquirers, stablecoin-linked card programmes, Visa Direct's stablecoin prefunding and Mastercard's Global Money Platform with BVNK. Covers what changes for issuers, acquirers and payout businesses, and what does not. - [Choosing a chain: Tron, Ethereum, Solana and others](https://fiatdesk.com/wiki/choosing-a-chain-tron-ethereum-solana.md): A practical scoring guide for picking the chain your stablecoin flows run on. Compares Tron, Ethereum, Solana, Base and other networks on liquidity, counterparty reach, fees, finality, compliance tooling and operations, with a worked scoring matrix. - [Major stablecoins: USDC, USDT and EURC](https://fiatdesk.com/wiki/major-stablecoins-usdc-usdt-eurc.md): A profile of the three tokens that do most commercial settlement work: Tether's USDT, Circle's USDC and Circle's euro token EURC. Covers issuers, regulatory status, redemption terms and chain coverage. - [On-ramps and off-ramps](https://fiatdesk.com/wiki/on-ramps-and-off-ramps.md): The services that convert bank money into stablecoins and back. Covers how card networks classify ramp providers, the licences ramp operators need, and the documents that decide whether fiat proceeds are accepted by a bank. - [Settlement finality](https://fiatdesk.com/wiki/settlement-finality.md): The point at which a payment can no longer be reversed. Covers how finality is defined in payment-system law, how it differs between cards, bank transfers and public blockchains, and why it matters to high-risk merchants. - [Stablecoin reserves, redemption and depeg risk](https://fiatdesk.com/wiki/stablecoin-reserves-redemption-and-depeg-risk.md): What backs a fiat stablecoin, how fast and at what cost holders can turn it back into money under each major regime, and what happens when the peg slips. - [Tokenised deposits vs stablecoins](https://fiatdesk.com/wiki/tokenised-deposits-vs-stablecoins.md): What separates a tokenised bank deposit from a stablecoin: who issues it, what legal claim it gives, deposit insurance, network reach and regulation. Covers HSBC's Tokenised Deposit Service, the PRA's May 2026 letter and when each fits a payments business. - [USDT vs USDC vs PYUSD vs EURC: a decision guide](https://fiatdesk.com/wiki/usdt-vs-usdc-vs-pyusd-vs-eurc.md): A side-by-side guide to choosing a settlement token. Compares Tether's USDT, Circle's USDC, PayPal's PYUSD and Circle's EURC on size, chains, regulatory status, redemption and counterparty reach, with decision rules by use case. - [What is a stablecoin](https://fiatdesk.com/wiki/what-is-a-stablecoin.md): A token on a public blockchain that aims to hold a fixed value against a reference asset, usually the US dollar, and that most regulators now treat as a payment instrument. ## Wiki: High-risk business - [Chargebacks and VAMP](https://fiatdesk.com/wiki/chargebacks-and-vamp.md): How card disputes work and how Visa's Acquirer Monitoring Program (VAMP), in force since June 2025, measures fraud and disputes. Covers the ratio, the thresholds and what they mean for high-risk merchants. - [De-risking](https://fiatdesk.com/wiki/de-risking.md): When banks and payment providers end relationships with whole categories of clients to avoid, rather than manage, risk. Covers the evidence, the sectors hit hardest and what standard-setters say about it. - [Descriptors and transaction laundering](https://fiatdesk.com/wiki/descriptors-and-transaction-laundering.md): What a merchant descriptor is, what Visa's October 2026 Merchant Data Standards Manual requires of payment facilitators, gambling merchants and ramp providers, and how transaction laundering, the processing of hidden merchants' payments through a front, is detected. Written for PSPs and high-risk merchants. - [Merchant category codes](https://fiatdesk.com/wiki/merchant-category-codes.md): The four-digit codes card networks use to classify what a merchant sells. Covers the codes that mark high-risk activity, Visa's rules for gambling, crypto and ramp transactions, and why miscoding is treated as a serious breach. - [Rolling reserves](https://fiatdesk.com/wiki/rolling-reserves.md): The share of each payout that an acquirer or processor holds back to cover future chargebacks and losses. Covers how reserves are structured, typical high-risk terms and how merchants negotiate them. - [Visa Integrity Risk Program (VIRP)](https://fiatdesk.com/wiki/visa-integrity-risk-program.md): Visa's framework for acquiring high-integrity-risk merchants. Covers the three tiers, acquirer and agent registration, merchant registration and annual attestation, and what it means for operators and PSPs. - [What is a high-risk business](https://fiatdesk.com/wiki/what-is-high-risk-business.md): Why legal businesses such as gambling operators, crypto firms, brokers, remittance firms and PSPs are labelled high-risk by card networks and banks, what that label costs them, and how it differs from being illegal. ## Wiki: Industries - [Crypto exchanges and OTC desks](https://fiatdesk.com/wiki/crypto-exchanges-and-otc-desks.md): Trading venues and over-the-counter desks that convert between crypto, stablecoins and fiat. Covers their licensing, card-network treatment and banking challenges, and why they are both a high-risk sector and core infrastructure for stablecoin settlement. - [Forex and CFD brokers](https://fiatdesk.com/wiki/forex-and-cfd-brokers.md): Retail brokers offering leveraged foreign-exchange and contract-for-difference trading. Covers the investor-protection rules, why card networks and banks treat them as high-risk, and their payment needs. - [iGaming operators](https://fiatdesk.com/wiki/igaming-operators.md): Online casinos, sportsbooks and lotteries. Covers why they are among the hardest businesses to bank, the player-protection rules that shape their payments, and where stablecoin settlement fits. - [Payment service providers (PSPs)](https://fiatdesk.com/wiki/payment-service-providers.md): Gateways, payment facilitators, e-money institutions and local payment-method aggregators that sit between high-risk merchants and the banking system. Covers their role, their own licensing risk and how stablecoins are entering their settlement stack. - [Remittance and money transfer operators](https://fiatdesk.com/wiki/remittance-and-money-transfer-operators.md): Firms that send money across borders for individuals and businesses. Covers why they have been among the hardest-hit by de-risking, how they depend on prefunding and correspondent banks, and how stablecoins are entering payout networks. ## Wiki: Markets - [Brazil's betting ban and payments](https://fiatdesk.com/wiki/brazil-betting-ban-and-payments.md): How Brazil's Provisional Measure 1.394 of 25 September 2026 banned fixed-odds betting and online games, ended every licence and turned banks and payment institutions into the enforcement layer. Covers the timeline, the refund mechanics and lessons for PSPs. - [Latin America: payments and PSPs for regulated gaming](https://fiatdesk.com/wiki/latin-america-payments-and-psps.md): A market-by-market view of how Latin American gambling rules reach payment providers in 2026: Brazil's ban, Colombia's PSP duty and deposit tax, Mexico's higher excise tax, Peru's proposed payout deadline and Chile's pending bill. Covers what PSPs should check before serving operators in the region. - [Ontario iGaming payments](https://fiatdesk.com/wiki/ontario-igaming-payments.md): How payments work in Ontario's regulated online gambling market. Covers the AGCO funds-management standards (no crypto, deposits through financial services providers, withdrawals to the player's own account, CAD balances), iGaming Ontario's September 2026 figures and what PSPs need to support operators. - [Philippines iGaming payments](https://fiatdesk.com/wiki/philippines-igaming-payments.md): How payments work for PAGCOR-licensed online gaming in the Philippines after the central bank ordered e-wallets to remove gambling links in August 2025. Covers PAGCOR's payment gateway accreditation, the May 2026 BSP alignment, the market's size and what PSPs need. ## Wiki: iGaming regulators - [African gambling regulators: South Africa, Nigeria, Kenya](https://fiatdesk.com/wiki/african-gambling-regulators.md): Three of Africa's biggest betting markets, three different structures: provincial boards in South Africa, state-level control in Nigeria after a 2024 Supreme Court ruling, and a new national regulator in Kenya with a 30% local ownership rule, a local bank account requirement and a 5% excise on wallet deposits. - [Asia-Pacific gambling regulators: Australia, India, Singapore, Japan, Philippines](https://fiatdesk.com/wiki/asia-pacific-gambling-regulators.md): Asia-Pacific is mostly about prohibition and enforcement rather than open licensing. Australia bans credit cards and crypto for online betting, India bans online money games and the payments for them, Singapore licenses only Singapore Pools for remote gambling, and Japan has criminalised promoting illegal online casinos. The Philippines is the main licensing exception. - [EU national gambling regulators: Sweden, Denmark, Germany, Netherlands, Spain, Italy, France](https://fiatdesk.com/wiki/eu-national-gambling-regulators.md): Seven EU countries that require their own online gambling licence: the regulator, what may be offered, tax rates and the payment rules that matter for PSPs, from Sweden's credit block and Germany's €1,000 cross-operator deposit limit to Denmark's PSP-only deposits and France's ban on online casino. - [European licensing hubs: Malta, Gibraltar, Isle of Man, Alderney](https://fiatdesk.com/wiki/european-island-licensing-hubs.md): The four small European jurisdictions that license much of the international online gambling industry: who regulates, what each licence costs, how gaming is taxed and what changed in 2026, including Malta's new local gaming tax and Gibraltar's Gambling Act 2025. - [iGaming regulators worldwide](https://fiatdesk.com/wiki/igaming-regulators-worldwide.md): The hub for the iGaming regulators category: one comparison table covering more than 30 jurisdictions, showing the regulator, licence model, whether online casino and sports betting are allowed, payment rules, crypto stance, tax and sourced fees, with links to regional deep dives. - [Latin American gambling regulators: Colombia, Mexico, Peru, Argentina](https://fiatdesk.com/wiki/latin-american-gambling-regulators.md): Who licenses online gambling in Colombia (Coljuegos), Mexico (SEGOB), Peru (MINCETUR) and Argentina (the provinces), with the legal basis, licence model, taxes and the payment rules a PSP must check. Brazil and Chile are linked rather than repeated. - [Offshore gambling licences: Curaçao, Kahnawake, Anjouan](https://fiatdesk.com/wiki/offshore-gambling-licences.md): What the three best-known offshore gambling licences actually involve in 2026: Curaçao's LOK regime and crypto guideline, Kahnawake's Client Provider Authorizations and 2027 fee rise, and the dispute over whether Anjouan licences are authorised at all. - [UK Gambling Commission (Great Britain)](https://fiatdesk.com/wiki/uk-gambling-commission.md): How the Gambling Commission licenses online gambling in Great Britain, and the payment rules that come with a licence: the credit card ban, reverse-withdrawal ban, deposit-triggered checks, slots stake limits, customer-funds ratings and the 2026–27 duty rises. - [US state iGaming regulators: New Jersey, Pennsylvania, Michigan and the federal UIGEA layer](https://fiatdesk.com/wiki/us-state-igaming-regulators.md): Online casino in the US is legal state by state. Seven states had live markets in 2025 and Maine is preparing to become the eighth. This article covers the regulators, tax rates in the three largest markets, Pennsylvania's separate bank account rule, and how the federal UIGEA rules shape card and ACH flows. ## Wiki: Regulation - [AML and KYC](https://fiatdesk.com/wiki/aml-and-kyc.md): Anti-money laundering and know-your-customer obligations as they apply to high-risk businesses and stablecoin flows. Covers the FATF framework, customer and source-of-funds checks, and why compliance on the stablecoin leg looks different from the bank leg but is no lighter. - [Crypto and stablecoins under gambling licences](https://fiatdesk.com/wiki/crypto-under-gambling-licences.md): What major gambling regulators say about players paying in crypto or stablecoins, and how that differs from operators settling with businesses in stablecoins. Covers Curaçao's 2026 crypto policy, the UK Gambling Commission's key-event rules and its 2026 exploration, Ontario's ban and Brazil, with a decision path for operators and PSPs. - [Gambling regulators and payments](https://fiatdesk.com/wiki/gambling-regulators-and-payments.md): How the main online gambling regulators shape the way operators take deposits and pay out. Covers the UK, Malta, Curaçao, the Netherlands, Germany, Ontario and Brazil, and the growing role of banks and PSPs as enforcement points. - [GENIUS Act and the OCC rule](https://fiatdesk.com/wiki/genius-act-and-occ-rule.md): The US federal framework for payment stablecoins, enacted on 18 July 2025, and the OCC's final implementing rule of 21 October 2026. Covers who may issue, reserves, redemption, the interest ban and the key dates. - [MiCA (Markets in Crypto-Assets Regulation)](https://fiatdesk.com/wiki/mica.md): The EU's framework for crypto-asset issuers and service providers, Regulation (EU) 2023/1114. Covers e-money tokens, the CASP licence and passport, the end of the transitional period and the 2026 squeeze on non-compliant stablecoins. - [Sanctions screening](https://fiatdesk.com/wiki/sanctions-screening.md): How businesses that handle stablecoins avoid dealing with sanctioned persons, jurisdictions and wallet addresses. Based mainly on OFAC's virtual currency guidance: strict liability, the SDN list, the 50 Percent Rule, geolocation controls and reporting. - [Stablecoin regulation by jurisdiction](https://fiatdesk.com/wiki/stablecoin-regulation-by-jurisdiction.md): A comparison of the main stablecoin regimes in the EU, US, UK, Hong Kong, Singapore, Japan, the UAE and Kazakhstan's AIFC. Covers status, issuer rules, capital, reserves, redemption, the interest ban and retail access, as of October 2026. - [The UK cryptoasset and stablecoin regime](https://fiatdesk.com/wiki/uk-cryptoasset-and-stablecoin-regime.md): How the UK will regulate cryptoasset firms and stablecoin issuers from 25 October 2027. Covers the FSMA (Cryptoassets) Regulations 2026, the FCA's June 2026 policy statements, CASS 16 backing and T+1 redemption, capital, the authorisation window and the Bank of England's systemic stablecoin regime. - [Travel Rule](https://fiatdesk.com/wiki/travel-rule.md): The requirement that originator and beneficiary information travels with transfers. Covers how FATF extended it to virtual assets, how the EU applies it to crypto-asset transfers with no minimum threshold, and what it means for stablecoin settlement. ## Wiki: Treasury and operations - [Choosing a stablecoin settlement provider](https://fiatdesk.com/wiki/choosing-a-stablecoin-settlement-provider.md): A due-diligence guide for picking the firm that converts, holds and pays out stablecoins for you. Covers licences by jurisdiction, custody and safeguarding, compliance tooling, liquidity and off-ramps, operational resilience and contract terms, with a scored checklist and red flags. - [Custody and wallet security](https://fiatdesk.com/wiki/custody-and-wallet-security.md): How businesses hold stablecoins safely. Compares exchange accounts, qualified custodians and self-custody with multisig or MPC, covers what MiCA requires of custodians, and sets out operational controls against theft and error. - [Player payouts and withdrawals](https://fiatdesk.com/wiki/player-payouts-and-withdrawals.md): How regulated gambling operators pay players: verification, return-to-source rules, timing rules by market, rails from card push payments to stablecoins, and the liquidity needed to pay on weekends. Includes rules from Ontario, Great Britain, Peru, Curaçao and Brazil's forced refunds. - [Prefunding](https://fiatdesk.com/wiki/prefunding.md): The practice of placing funds with a payout partner or in destination accounts before payments are made. Covers why cross-border payout businesses prefund, what it costs, and how stablecoin prefunding, now in production at Visa Direct, changes the timing. - [Stablecoin accounting, reconciliation and tax](https://fiatdesk.com/wiki/stablecoin-accounting-reconciliation-and-tax.md): How finance teams book, reconcile and report stablecoin balances. Covers IFRS and US GAAP classification, the FASB's August 2026 cash-equivalents proposal, UK tax treatment, crypto tax-reporting regimes and a practical daily reconciliation routine. - [Stablecoin treasury management](https://fiatdesk.com/wiki/stablecoin-treasury-management.md): How businesses that receive or pay in stablecoins choose tokens, manage redemption costs, the cost of the interest ban, depeg and concentration risk, and keep backup settlement routes. - [Wallet screening and blockchain analytics](https://fiatdesk.com/wiki/wallet-screening-and-blockchain-analytics.md): How businesses check where stablecoins come from and where they are going. Covers address screening, exposure analysis, issuer freezes, identifying VASPs, and how on-chain evidence supports source-of-funds files. ## Wiki: Reference - [Glossary](https://fiatdesk.com/wiki/glossary.md): Short definitions of the terms used across the FiatDesk Wiki, from acquirer to VIRP, including gambling-market, UK regime and card-network terms, with links to the full articles. ## Optional - [All wiki articles in one file](https://fiatdesk.com/llms-full.txt)