Big news! CoolWallet has partnered with Bridge, a Stripe company, to launch the new Fiat Deposit service.
Starting now, you can create a free bank account with Bridge and fund it by bank transfer. Your USD or EUR will be converted into the crypto you select and delivered directly and securely to your CoolWallet address. It is simple to use and compliant with applicable regulations.
Products that support this feature:
✅ CoolWallet Pro
✅ CoolWallet Go
✅ CoolWallet S
✅ CoolWallet HOT Wallet
⚠️ Before you begin, make sure you meet the transfer eligibility requirements.
Contents
An overview of the first-time Fiat Deposit steps. Once you’ve created your USD or EUR bank account with Bridge, you can skip straight to Step 4 in the future to transfer funds and receive crypto.
Step 1. Check your eligibility
Before applying, please confirm that you meet the eligibility requirements.
You can sign up for Bridge after completing identity verification and open free bank accounts for supported currencies. However, transfers that do not meet the rules may fail and result in fees being lost, so please read the restrictions carefully.
Currently only USD and EUR are supported, and each currency has different rules.
Bridge U.S. bank accounts: USD incoming transfer rules
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Only USD transfers originating from banks located in the United States are accepted.
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Third-party transfers are allowed. You may share the account details with your employer for payroll.
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Transfers in currencies other than USD or from banks outside the United States are NOT accepted and will be returned or rejected.
In other words, any USD transfer sent from a U.S. bank can be converted into your chosen crypto. The sender account does not have to be a U.S. bank account in your own name.
Note: Even if you have a USD account in your own name, if the bank is not located in the United States, the transfer will be rejected. For example, a USD transfer from a bank registered in Taiwan will not be accepted.
Bridge SEPA bank accounts: EUR incoming transfer rules
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Only EUR transfers from bank accounts in your own name that are located within the SEPA (Single Euro Payments Area) are accepted.
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Transfers from accounts not in your own name CANNOT be credited.
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Transfers in currencies other than EUR or from banks outside SEPA will be returned or NOT processed.
In short, to convert EUR into crypto, you must use a SEPA bank account in your own name.
Note: Even if your EUR account is in your own name, if the bank is not located in SEPA, the transfer will be rejected. For example, a EUR transfer from a bank registered in Taiwan will not be accepted.
Step 2. Sign up for Bridge and complete identity verification (KYC)
To apply for a Bridge account, you must complete identity verification. The acceptable documents vary by nationality.
⚠️ If you plan to transfer from a SEPA account in your own name, make sure the name format on your identity document matches your bank account to avoid verification issues.
In the CoolWallet app, go to Wallet → Receive → Fiat Deposit.
Read the instructions and the rules for each currency, then tap Deposit Fiat.
Under Bridge policy and applicable regulations, some countries and regions are not eligible for this service. Tap Restricted Regions (highlighted in yellow) on the page for details.
During KYC, the personal data you provide is sent directly to Bridge for verification and transaction processing. CoolWallet does not access or store your personal data and does not participate in verification decisions.
Tap Sign up / Log in and check if you meet the requirements so your transfer and conversion can be processed smoothly. Then tap I understand and agree.
Next, enter your name and email, and complete the email verification sent by Bridge.
After email verification, you will be redirected in your browser to complete KYC. Tap Accept to agree to the terms and begin verification. KYC is typically completed within 24 hours.
Once approved, your status will change from Verifying to You have completed identity verification, and you can begin opening free bank accounts.
Step 3. Open a free bank account for a specific currency
Example: opening a U.S. bank account for USD transfers.
On the page, select USD, review the account’s incoming transfer rules, then tap Create Account.
Choose the crypto you want to receive and the wallet and address that will receive it.
After the account is created, it will appear under Created. Tap View to switch tabs and see:
- Bank Account Details for incoming transfers
- Crypto Receiving Details for the crypto you will receive, the receiving wallet, and the wallet address
Step 4. Transfer funds from an eligible bank account
Send funds from an eligible bank account using the normal transfer process to the details shown on the Bank Account Details page. Once the transfer arrives, your funds will be automatically converted to the crypto you selected and delivered directly to your CoolWallet address.
Edit receiving crypto and address
If you want to change the crypto or the receiving wallet address, go to the Crypto Receiving Details page and tap Edit. Select a new asset and address, then complete email verification to confirm the change.
About Bridge
Bridge is a U.S. fintech company focused on compliant fiat-to-crypto conversion solutions. It was acquired by Stripe in 2024. Bridge operates in multiple countries, adheres to international financial regulations, and provides secure and transparent payment infrastructure for individuals and businesses.
Through CoolWallet’s integration with Bridge, you can convert USD and EUR to crypto via a rigorously vetted, compliant channel that helps keep your funds safe.
FAQs
Q1: Why did my KYC fail?
The most common reasons are unsupported documents, mismatched information, or unclear images. Make sure your document is on the supported list and your name matches your bank account information. KYC data is submitted directly to Bridge for review. CoolWallet does not access or store personal data and does not make verification decisions.
Q2:Why can’t I deposit TWD?
Bridge currently supports only USD and EUR. TWD is not supported. If Bridge adds TWD in the future, CoolWallet will enable it accordingly.
Q3. I passed KYC and opened USD or EUR accounts, but my transfer still failed. Why?
Check whether your transfer meets the rules. For example, USD must come from a bank located in the United States. EUR must come from a SEPA bank account in your own name. Transfers that do not meet these rules will be returned or rejected.
Q4. Once my funds arrive, when will I receive my crypto?
In general, after the funds are credited, conversion and delivery to your CoolWallet take about 20 minutes. There may be delays if manual review is needed or on bank holidays.
Q5. Which cryptocurrencies are supported?
Currently major stablecoins on multiple networks, such as Ethereum, Polygon, Solana, Tron, Arbitrum, Avalanche C-Chain, Base, and Optimism.
Q6. Are the Bridge bank accounts real bank accounts?
Yes. Bridge provides real bank accounts through regulated partner banks:
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USD accounts: Partner bank
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EUR accounts (virtual IBAN): Modulr Finance, Ireland Branch
Unlike traditional bank accounts, these are virtual accounts intended for quick conversion. Funds are not intended to be held long term. After arrival, they are converted to crypto and sent to your wallet.
Q7. Are my funds held at Bridge’s bank account?
No. Once funds are credited, they are converted according to your settings and sent to your CoolWallet wallet. Transfers that arrive on a bank holiday are processed on the next business day.
Q8. Does CoolWallet keep or review my data?
No. KYC and transaction processing are handled by Bridge. CoolWallet does not access or store your personal data.
Q9. Are there additional fees?
Each incoming transfer is subject to a 0.5% fee.
Example: If you send USD 10,000 and select USDC, your wallet will receive 9,950 USDC after conversion.
Q10. Can I have both USD and EUR accounts?
Yes. You can open and use both a U.S. bank account (USD) and a SEPA account (EUR), each following its respective rules for deposit and conversion.
Q11. Are there country or region restrictions?
Under Bridge policy, the Fiat Deposit service is restricted in certain countries and regions, including those on U.S. OFAC sanctions lists. The restrictions include, but are not limited to: users whose primary residential or operating address is in New York or Alaska, as well as Cuba, Iran, Myanmar, North Korea, Syria, Afghanistan, Algeria, Bangladesh, Bhutan, Burundi, China, Democratic Republic of the Congo, Gaza Strip, Guinea-Bissau, Haiti, Iraq, Kenya, Kosovo, Lebanon, Libya, Mali, Morocco, Mozambique, Nepal, Nicaragua, Niger, North Macedonia, Pakistan, Qatar, Russia, Slovenia, Somalia, South Sudan, Sudan, Venezuela (Bolivarian Republic), West Bank (Israeli-occupied Palestinian Territory), Yemen, and Zimbabwe.
CoolWallet does not participate in any eligibility review or decision. All reviews and decisions are performed solely by Bridge.
