Withdrawals allow users to transfer funds from the platform to their bank accounts. The process generally follows these steps:

Step 1: User Submits Withdrawal Request
The user submits a withdrawal request through your platform. Your platform sends the withdrawal request to StraitsX via API.

Step 2: Conversion (If Applicable)
If the funds are held in stablecoins (such as XUSD or XSGD), the system will auto convert the digital assets into the corresponding fiat currency before initiating the payout.

Step 3: Payment Processing
Once the withdrawal request is approved and processed, StraitsX sends the fiat funds to the user’s bank account through the banking network.

Step 4: Funds Received by User
The receiving bank processes the transfer and credits the funds to the user’s bank account.

Important Notes for Withdrawals

To help ensure withdrawals are processed smoothly:

• The bank account should belong to the same verified user on the platform

• Users should ensure that all bank details are accurate and complete before submitting the request

• Some banks may require additional payment information or specific formatting for transfers
  
  

If the receiving bank requires information that was not included in the withdrawal request, the transfer may be delayed or rejected during bank processing.