Welcome to Magma¶
TL;DR - Magma is a SaaS dashboard your operators use to onboard end-customers, fund their virtual accounts, and execute SWIFT, Wire, ACH, and crypto-to-fiat payments. You handle the customer relationship; Magma handles the payment rails.
What you can do¶
| Capability | What it means in practice |
|---|---|
| Onboard customers | Create an organization, send a KYC / KYB link, watch the status until the customer is active. |
| Hold balances | Each customer gets a virtual account with full bank coordinates. They top up by SWIFT / Wire / ACH; balance is reflected in the dashboard. |
| Send fiat payouts | Debit a customer's balance and pay a recipient via SWIFT, Wire, or ACH. TOTP-confirmed. |
| Send crypto-to-fiat payouts | Generate a single-use deposit address; customer pays in stablecoin, recipient receives a SWIFT wire in USD. |
| Manage recipients | Add and maintain recipients on each customer for fiat payouts. |
| Configure fees | Add a markup on top of the platform fee, globally or per customer. |
| Audit everything | Review every transaction, with filters, exports, and PDF receipts. |
The three-tier model¶
Magma (the platform - runs the rails)
└── Fintech (you - Magma's paying customer)
└── Customers / Organizations (your end-clients)
- Magma sets your platform fees, manages payment-provider connectivity, and onboards your fintech.
- Your fintech uses the dashboard to manage customers, configure markups, and execute payments. This is what the rest of this wiki documents.
- Your customers are the legal entities that hold balances and receive / send money. In v1 they do not log into Magma - your operators run everything on their behalf.
What Magma is not¶
- Magma is not your KYC / KYB collector. Documents are gathered by the upstream provider via an external link. Magma only tracks the customer's onboarding state. See KYC / KYB status.
- Magma does not move crypto custody. Crypto-to-fiat is a pass-through: the customer deposits to a single-use address, the provider converts and wires the recipient, and the customer's balance is not affected. See Crypto-to-fiat payouts.
Where to go next¶
- Roles & permissions - understand admin / operate / view before inviting anyone.
- Your first login - what to expect at the login screen, including TOTP enrollment.
- Glossary - quick definitions for fintech, organization, virtual account, idempotency key, and other terms used throughout the docs.