EUR account: an IBAN in your name that turns euros into USDC

The xChange.bg EUR account is a set of euro bank details, an IBAN, opened in your own name. You use it like any account number you would give to an employer, a client or your own bank. The difference is what happens after the money lands: it does not sit as a bank balance, it becomes a stablecoin in a wallet that only you control.

What the EUR account is

When you open an xChange.bg account and pass verification, you get a euro IBAN issued in your name through Bridge, a Stripe company and our licensed partner for fiat services. Bridge describes these as virtual accounts: permanent, reusable deposit details that convert incoming money into a stablecoin and deliver it to a wallet address. With xChange.bg, that address is your own self-custody wallet, and the euros arrive as USDC, the dollar stablecoin issued by Circle.

Circle backs USDC with cash and short-term US government debt and publishes monthly attestations of its reserves. xChange.bg is not a bank, and your balance is not a bank deposit.

Who it is for

• People in Bulgaria and elsewhere in the EU/EEA who want to move money from their own bank onto stablecoins with a plain SEPA transfer, without card purchases on an exchange.
• Freelancers and small companies whose European clients pay by bank transfer and who want the money ready to send on-chain or to hold in dollars.
• Longtime clients of the xChange.bg exchange who used to fund orders by bank transfer and now want accounts in their own name.

How it works

1. Open an account. Sign up online with your email. You receive a one-time code instead of a password, and your wallet is created at the first sign-in.
2. Verify your identity. A personal IBAN requires an identity check by law. Our licensed partner runs it with an ID card or passport and a quick selfie. Companies go through business verification with registration details and the identity of directors and owners.
3. Receive a transfer. Send money from your own bank, or give the IBAN to a client or employer. For the sender it is an ordinary euro transfer.
4. Use the balance. USDC arrives in your wallet with the 1.5% fee deducted. You can hold them, send them free to another xChange.bg client, send them to any external wallet for the network fee, or pay out to a bank at 1.25%.

Fees

Example. You send EUR 2,000 from your Bulgarian bank to your own IBAN. The fee is EUR 30, so the remaining EUR 1,970 arrives in your wallet as USDC at the EUR/USD rate at the time of conversion. If you send EUR 50, 1.5% would be EUR 0.75, so the minimum fee of EUR 1 applies and EUR 49 is converted to USDC. Your own bank may charge for the outgoing transfer under its tariff. The full list is on the pricing page, and the stablecoin fee calculator runs the numbers for any amount.

What to know before you use it

• A stablecoin is not a bank deposit. USDC is a claim on its issuer, Circle, backed by reserves. It is not covered by a deposit guarantee scheme, and its market price can move away from 1.00 for a while under stress. Read what a stablecoin is before you hold large amounts.
• You control the wallet, so you carry the responsibility. xChange.bg holds no keys and cannot freeze your balance. Protect the email you sign in with, and check every address before you send on-chain: a blockchain transfer to the wrong address cannot be reversed by us.
• USDC means a currency change. Incoming euros become USDC, so your balance is in dollar value. When you go back to euros, the EUR/USD rate may be better or worse than when the money arrived.
• Tax. Stablecoins are crypto-assets under Bulgarian tax law, and selling or exchanging them can create a taxable result. The crypto tax guide explains the rules. This page is not tax advice.
• Not everyone can be onboarded. Accounts are for EU/EEA residents and depend on verification and sanctions screening. Sanctioned jurisdictions and high-risk activities, such as unlicensed gambling or shell companies, are not accepted.
• Who provides what. Fiat services, including the IBAN and the conversion to stablecoins, are provided by Bridge, which is not a bank. xChange.bg operates the technology.